TechMARK movers: BATM slumps on poor telecom sales

18th May 2010 14:59

BATM's share price has been hammered following its trading statement and the telecoms equipment company has lost more than one-third of its value in one day. Revenues and profits in 2010 will be significantly below estimates after a poor first four months for the telecoms division. The medical division is continuing to grow and FinnCap has increased its 2010 revenue expectations for this division from $38m to $50m. That is not enough to offset the downgrade in the telecoms division. FinnCap analyst Dr Paul Cornelius forecasts flat 2010 revenues of around $135m. FinnCap expects BATM to break even in the first half of 2010 but there are optimistic signs for the second half and the broker forecasts a full year profit of $12.5m. Rensihaw continues to react positively to last Friday's trading statement. The scientific instruments maker says bumper demand from China will help it beat profit expectations in 2010. The order book has increased from £9.7m to £24.1m in the first four months of 2010. Altium Securities forecasts 2010 profits of £26m, which still puts the shares on nearly 25 prospective 2010 earnings. The wife of non-executive director Bill Whiteley bought 2,075 shares at 716.5p each after the trading statement on Friday. FTSE TechMARK - RisersRenishaw (RSW) 718.50p +6.37%Vernalis (VER) 41.00p +3.80%Vislink (VLK) 20.50p +3.80%Dialight (DIA) 270.00p +2.86%Consort Medical (CSRT) 365.00p +2.74%KCOM Group (KCOM) 46.00p +2.22%NXT (NTX) 11.75p +2.17%Phoenix IT Group (PNX) 255.00p +1.80%Oxford Instruments (OXIG) 268.50p +1.70%Asterand (ATD) 15.25p +1.67%FTSE TechMARK - FallersBATM Advanced (BVC) 24.00p -35.14%Triad Group (TRD) 29.00p -9.37%E2V Technologies (E2V) 52.00p -5.02%Alphameric (ALM) 28.50p -5.00%Emblaze (BLZ) 41.25p -2.94%Parity Group (PTY) 8.75p -2.78%Oxford Biomedica (OXB) 10.00p -2.44%Trafficmaster (TFC) 42.00p -2.33%Torotrak (TRK) 22.25p -2.20%Logica (LOG) 126.70p -2.09%