Adacel expects net profit to fall

Sydney, Apr 04, 2008 (RWE via COMTEX) -- AELTF | news | PowerRating | PR Charts -- (RWE Australian Business News) Adacel Technologies Ltd (ASX:ADA) today warned that net profit for the June half-year would lower than that of the December half, and consequently net profit for the full 2008 year would be below 2007.

Directors said, "whilst strong orders growth is still anticipated for the 2008 financial year, more modest revenue recognition on certain key programs is likely in this half.

"This follows recent notification by a large customer of slower-than-planned delivery schedules for a major US program, as well as slippage of some expected US private sector programs.

"It is forecast that the revenue from these programs will be recognised in the 2009 financial year."

They also said, "The company continues to be in a leading market position and the strong growth in orders will help generate increased revenues in FY2009 while the forecast for order intake for the next three years is for significant annual growth.

"The company continues to be in a sound financial position with a strong balance sheet, cash in bank and access to an undrawn bank facility."

rweabn.com.au

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