Seeing Machines (LON:SEE), the AIM listed company that develops of advanced vision based industrial systems, disappointed investors this morning with news that full year revenue to 30 June 2010 is expected to fall significantly below market expectations. The company blamed the shortfall on the delay of a series of orders that it believes will now be received at the start of the next trading period.

Seeing Machines makes systems for automotive, medical, entertainment and research applications based on technologies that allow machines to see and track human faces and certain facial features. These technologies enable the development of new products and applications, ranging from devices that improve road safety to those that help manage eye disease and prevent loss of eyesight.

In April, the company raised £3.3m in a share placing priced at 3.5p in order to accelerate the sale of the company's DSS system into the mining industry by investing in its sales and support presence in Australia, Africa and the Americas. The DSS is an active system that directly monitors the driver of a vehicle for distraction and fatigue events and provides a series of interventions aimed at managing these events and averting potential disasters.

In the half year to December 2009 Seeing Machines saw revenues slip by 18% to A$2.3m (£1.4m) while net remained flat at A$0.4m. At the time of the results in mid-March, the company warned that the full year results were not expected to achieve current market expectations due to delayed revenue growth and changes in accounting treatment to expense all development costs.

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