Shares in Judges Scientific, the Sussex based manufacturer of scientific instruments, fell despite the company saying it expects adjusted earnings per share for 2011 to be ahead of the consensus forecast.
Investors were evidently concerned over the firm's warning that the year ahead remains uncertain.
"Operations were satisfactory throughout the year and good progress was recorded in sales, profitability and cash conversion," the firm said.
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"The global economic outlook remains difficult and the year ahead promises much uncertainty. Thankfully our sector has remained relatively sheltered from the general despondency, particularly in the Far East, which accounts for a significant proportion of our sales.
"With a solid order book, a strong balance sheet and a number of new or updated products, the directors are confident that the group is well equipped for 2012."
The share price fell 1.76% to 417.5p by 13:08.
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