JSE-listed electronics and communications company Zaptronix says in an update issued this morning that its results for the year to 31 August are in line with the forecast contained in a circular sent to shareholders on 8 August.
The company has simultaneously issued a cautionary notice saying that it has entered into talks that may, if concluded, have a material effect on the price of its shares.
According to the August circular, Zaptronix was expecting net income of R2.91 million before interest and tax, while net after-tax income was forecast at R2.33 million.
This will be the first time the group reports figures for the 12 months to August since changing its year-end from April.
The change was to smooth the progress of the acquisition of DuO Solutions Provider and align the year-ends of the consolidated entities.
Zaptronix first disclosed in July last year that it was acquiring DuO in a deal valued at about R3.07 million. The transaction is essentially a reverse takeover.
Zaptronix shareholders voted unanimously in favour of the deal last month, as well as for a related consolidation of the company`s shares.
Zaptronix achieved after-tax profit of R37 000 for the year to end-April, a turnaround from the previous financial year. Pre-tax income of R49 000 compared with a previous R2.63 million loss.
The Zaptronix share was unchanged at 17c in early trade this morning, after gaining 1c on Friday.
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