14th Oct 2013 07:55
LONDON (Alliance News) - Shares in Software Radio Technology PLC were trading down 7.4% after it said Monday that it has increased its forecast production and accepted an offer of a GBP1 million loan facility to provide additional working capital in order to support expected demand.
Shares in Software Radio Technology were trading down 7.4% at 28.71 Monday morning.
The company said it expects revenues of GBP3.2 million for the half-year ended September 30, with a pretax loss of GBP400,000. The wireless radio communication technologies company expects the current year to weighted to the second half due to the timing of projects.
Additionally the company said that it had acquired 3D visualisation software technology company GeoVS in return for 3.1 million shares, approximately GBP955,000. Software Radio Technology expects this acquisition to add around GBP400,000 to its administrative and research and development costs during the second half of the year.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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