Senetas Corp Ltd Softness in market update
Softness in market update: Senetas Corp Ltd (ASX: SEN) stock has fallen 13% on February 06, 2017 at the back of its market update entailing a lower than expected guidance for net profit before tax (NPBT) of between $1.25m and $1.3m for HY17 while NPBT for HY16 stood at $1.8m. This downgrade resulted from the impact of disrupted ordering patterns for products from customers undergoing network upgrades. SEN expects the trend to reverse once the upgrades get completed while timing for completion is still uncertain. FY17 NPBT is now estimated to between $5m and $6m while net after tax is expected to be between $3.4m and $4.2m.
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