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.
The first shipment would be followed shortly afterwards with higher volume shipments for a tablet computer.
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
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.
CJ
