Australia's Integrated Research hits over 10-year low on weak FY22 forecast

Integrated Research

16/05/2022 05:40

** Shares of Integrated Research  IRI.AX  slide as much as
19.1% to A$0.550, hits lowest since Feb. 10, 2012
    ** The software maker says FY22 pro-forma revenue is
anticipated to be down in the range of 3% to 7% compared to
prior year  urn:newsml:reuters.com:*:nASX8pgpVJ
    ** Says although the co will remain profitable, net profit
after tax for this year is expected to be below the previous
year
    ** Also expects Total Contract Value (TCV) to decline in
FY22 
    ** Shares mark their biggest intraday drop since July 13,
2018
    ** Trading volumes are 4.8 times the 30-day average of
247,835 shares
    ** As of last close, stock down 45.6% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))