Concurrent Tech To Miss 2010 Earnings View On Order Delay

20th Jul 2010 10:54

LONDON (Dow Jones)--Embedded computer products maker Concurrent Technologies PLC (CNC.LN) Tuesday said it expects to miss 2010 earnings expectations, as an order it expected to get this year now won't be sealed until 2011. The firm had been working on securing an order forecast to deliver around GBP1 million in revenue this year, but in a short statement said it has become clear that since its last market update in May the order is now expected to crystallize in 2011. "The directors anticipate that results for the current year will be below current market expectations," it said in the statement, without giving further details. According to FactSet, the company was expected to make a 2010 pretax profit of GBP3 million on sales of GBP13.5 million. Concurrent Technologies nonetheless said it remains confident that the result of its investment in new defense-related products will be seen beyond 2010. At 0925 GMT, shares in the company were trading 6 pence, or 12.9%, lower at 39 pence, underperforming a flat Dow Jones Smaller Companies index. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires July 20, 2010 05:54 ET (09:54 GMT)