Somero to miss expectations

23rd Nov 2009 08:27

Shares in Somero Enterprises fell back after the maker of laser-guided equipment for levelling concrete floors said results for the year to December 31 would be below expectations amid difficult trading. 'We anticipate market conditions will remain challenging in 2010 and future demand levels will continue to be unpredictable,' said chief executive Jack Cooney. 'Somero continues to be bank covenant compliant, however, and the cost reductions have reduced revenues required to pass the 2010 covenants to around $20m.'