CashGuard is reducing its sales forecast for the year. The company's current assessment is that the CIT/ATM business area's sales in 2007 will be lower than the level previously forecast. The sales forecast pertaining to sales growth for CashGuard's CIT/ATM business area has been adjusted downwards to 0-10 percent, compared with the previous forecast of 25-30 percent. CashGuard incurred non-recurring costs of approximately SEK 11 million during the third quarter."The trend in the CIT/ATM business area has been weaker than previously estimated in terms of both sales and earnings," says Agne Pettersson, Managing Director and Chief Executive Officer of CashGuard. For the July-September period, it is estimated that the Group will report an operating loss of about SEK 16 million, of which non-recurring costs will account for approximately SEK 11 million. For the January-September period, it is estimated that the Group's operating loss will amount to approximately SEK 18 million, with non-recurring costs accounting for about SEK 22 million. Definitive financial information will be disclosed on the scheduled date for publishing the interim report, namely October 25. In our assessment the market potential for both of the Group's business areas, Retail and CIT/ATM, remains extremely favourable. For further information, please contact: Agne Pettersson, Managing Director and Chief Executive Officer, CashGuard AB (publ); Tel: +46-8-732 22 00, agne.pettersson@cashguard.com Lars Ingman, Chief Financial Officer, CashGuard AB (publ), Tel: +46-8-732 22 00, lars.ingman@cashguard.com Facts about CashGuard AB (publ) CashGuard develops and sells products and services for secure and fully automatic cash handling and cash logistics. Via direct sales and distribution partners, CashGuard focuses on retail companies, post offices and banks, as well as on security companies. The CashGuard Group has approximately 190 employees and had sales of SEK 323 million in 2006. CashGuard shares are listed on the Stockholm Stock Exchange.
CashGuard AB: Revised sales forecast for CashGuard
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