Markets: Zicom infirmity

The surgical robot developer has seen shares plunge after slashing its net profit forecast for the 2013 financial year.

Zicom, the Brisbane-based engineering company that is developing robots to perform surgery, said its net profit in the 12 months to June 30 will fall by as much as one-fifth from the same period a year ago to $S6.2 million. The stock slumped by as much as 17 per cent.

In an ASX statement today Zicom said its revenue will probably be $S122 million compared with $S130 million in 2012. At 1414 AEST the company’s shares had fallen 4 cents to 20 cents, an intra-day low.

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