Carclo falls after smartphone order is put on hold

Shares of technology-led plastics business Carclo plunged after it said an order for smartphone touch sensors has been put on hold pending the resolution of a product design issue.

The group explained that at the time of its interim statement in August, its Cambridge based subsidiary Conductive Inkjet Technology, which works on flexible touch screen technology, had orders in hand for September 2012 shipments of touch sensors for a smartphone.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

However Carclo said this week the lower volume order for the smartphone touch sensors had been placed on hold pending resolution of a product design issue.

"It is now more likely that the first production shipment will be for the tablet product in the fourth quarter of 2012, triggering the prepayment from our commercial partner, also in the fourth quarter, as outlined in the IMS," it said in a statement.

Otherwise Carclo reiterated that trading continues in line with the board's expectations and it looks forward to another year of progress across all of its business streams.

A half-year trading update will be issued during the week starting 8th October 2012.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.