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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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.
NR
