Morning!

It's a little quiet on the newswires today. I shouldn't complain, as I'm just back from a very busy few days in London! Yesterday, I did some secret shopping at about half a dozen companies whose shares are of interest to me. A very interesting and worthwhile exercise, which I'll write about over the next couple of weeks.

Today's news includes:

  • Seeing Machines (LON:SEE) - warning on sales. Share price -9%.
  • Gateley Holdings (LON:GTLY) - trading update and proposed acquisition. Share price +5%.
  • RM2 - annual results & open offer at 1p. Share price -14% at 1.375p.
  • GAN (LON:GAN) - fundraising at 50p. Share price +5% (at nearly 70p!)


Seeing Machines (LON:SEE)

  • Share price: 7.75p (-9%)
  • No. of shares: 2240 million
  • Market cap: £174 million

Business Outlook Update

An unusual title for an RNS. Is this because of the company's Australian origins, I wonder?

Seeing Machines develops technology that can monitor humans, having particular applications in driver and pilot safety.

This is a warning on sales:

The Company has been informed by its manufacturer partner that, owing to a global shortage in traditionally short lead-time parts (capacitors and power supply) which are used in the Company's second-generation fleet product, Guardian Gen 2, production of a number of units that were due to be shipped shortly, will now be delayed by approximately six weeks.

Seeing Machines can't recognise the revenue for these units until they've been shipped to customers, so this revenue will now fall outside FY 2018 (ending in June).

Sales will be A$30 - A$35 million, instead of A$38 - A$43 million.

There has indeed been a general shortage in capacitors, so I'm inclined to think we can give Seeing Machines the benefit of the doubt as far as this particular profit warning is concerned - based on the information in front of me, I don't suspect that there is some other reason for the delay in revenue, other than the parts shortage.

Despite today's gap lower, the shares still sit at a premium compared to a week ago, thanks to the European Commission:

"Europe on the Move" will see all new cars, vans, trucks and buses sold in Europe fitted, as…

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