TechMARK movers: CSR cautious about Q3

28th Jul 2010 14:15

Chip maker CSR tumbled after it warned foundry capacity is becoming increasingly constrained and the third quarter outlook is relatively weak. CSR said this when it was reporting second quarter figures slightly ahead of expectations. Revenues were 39% higher at $220.7m in the three months to June 2010. There was a one-off expense for location IP of $5.9m. Excluding that, operating profit was better than expected at $29.9m. Revenues are forecast to grow more slowly in the third quarter. The capacity constraints may make it difficult to meet demand. Instrumentation supplier Renishaw reported figures at the top end of estimates. Second half revenues were particularly strong with China and India leading the growth. The order book was £23.3m at the beginning of the year, compared to £9.7m 12 months before. Singer Capital Markets forecasts an improvement in profit from £28.7m to £37.8m in the year to June 2011. That still leaves the shares trading on 20 times 2010-11 estimates. FTSE TechMARK - RisersAnite Group (AIE) 44.50p +8.54%Oxford Biomedica (OXB) 10.25p +6.66%Renishaw (RSW) 830.50p +2.47%Imagination Technologies (IMG) 336.90p +2.37%Corin Group (CRG) 50.50p +2.02%Wolfson Microelectronics (WLF) 173.00p +1.91%Psion (PON) 80.25p +1.26%Torotrak (TRK) 24.00p +1.04%Renovo Group (RNVO) 24.25p +1.04%Sinclair Pharma (SPH) 27.50p +0.91%FTSE TechMARK - FallersCSR (CSR) 360.60p -13.05%Parity Group (PTY) 7.88p -7.29%Innovation Group (TIG) 11.50p -4.17%RM Group (RM.) 140.00p -3.45%Antisoma (ASM) 5.80p -3.17%BATM Advanced (BVC) 25.50p -2.86%E2V Technologies (E2V) 62.00p -2.36%Triad Group (TRD) 25.00p -2.00%Puricore (PURI) 55.00p -1.79%Phytopharm (PYM) 8.63p -1.37%Vectura Group (VEC) 43.50p -1.14%