| CATEGORY: RISERS AND FALLERS SECTOR: SOFTWARE & COMPUTER SERVICES |
TechMARK movers: Census delay hits DRS |
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Fri 27 Nov 2009
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LONDON (SHARECAST) - Shares in DRS Data & Research Services slumped after it said that its 2009 results will be below market expectations because of contract delays.
The optical scanning equipment and data services supplier reported lower revenues for the 10 months to October 2009. The reduction from £14.7m to £12.9m was due to lower revenues in the non-education business. Work on the Pakistan census has been delayed until 2010.
DRS says that it will be profitable in the second half of 2009. DRS lost £1.69m in the first half and it will still make a full year loss.
Total Systems reported a higher loss and lower revenues leading to a fall in the share price. The insurance software provider more than doubled its loss from £202,000 to £444,000 in the six months to September 2009. Revenues slumped from £2.14m to £1.78m. Software and maintenance revenues held up but the demand for services was much lower.
Cost savings will help the second half and there are potential sales opportunities – but these will not necessarily come to fruition.
The share price is at a discount to cash in the balance sheet of 32.06p a share. The net asset value is 40.62p a share.
FTSE TechMARK - Risers
Emblaze (BLZ) 49.75p +6.99%
Optos (OPTS) 95.00p +6.74%
Psion (PON) 89.50p +4.68%
Innovation Group (TIG) 12.00p +4.35%
Oxford Instruments (OXIG) 217.00p +3.33%
NCC Group (NCC) 398.00p +3.11%
Ricardo Group (RCDO) 255.00p +2.62%
Triad Group (TRD) 39.50p +2.53%
BATM Advanced (BVC) 51.25p +2.50%
Kofax (KFX) 186.00p +2.20%
FTSE TechMARK - Fallers
DRS Data (DRS) 11.00p -18.52%
Total Systems (TTS) 23.50p -11.32%
Consort Medical (CSRT) 349.25p -3.72%
Anite Group (AIE) 33.00p -3.65%
Visonic (VSC) 64.50p -3.10%
NXT (NTX) 16.00p -3.03%
Torotrak (TRK) 26.25p -2.78%
Trafficmaster (TFC) 28.50p -2.56%
Asterand (ATD) 20.25p -2.47%
E2V Technologies (E2V) 51.50p -2.37%
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