ADA 2.03% 75.5¢ adacel technologies limited

yet again they have dowgraded profit forecast

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    announced today company now expects to post pre-tax loss of around $5 mio this fiscal year.

    this announcement comes barely 6 weeks after directors said:

    * Adacel continues to focus on achieving profit for the June half and full 2003 year.


    Directors pulled the same stunt last year - postive forecasts, only to later announce a loss

    as I have posted about ADA before, although they continue to boast of winning numerous contracts, their share price is going nowhere until managament can turn sales into a profit.

    on top of this latest bad news, they have also announced they intend to hit the market for another $7.5mio of new capital.

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