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Mustek warns of earnings slump

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Mustek has warned that its earnings could be down as much as 45% when it announces its results next week. 

Shareholders have been informed that, for the period ended 31 December, headline earnings per share have been negatively affected by the fair valuation of the investment in Wavetrend Technologies (12,3 cents), losses incurred in the discontinued operation Mecer Digital Do Brazil (2,6 cents), share-based payments expensed (2,5 cents) and a STC charge on dividends paid (3,5 cents).
In total, headline earnings per share have been negatively affected by 20,9 cents per share as a result of these expenses.
As a result, Mustek`s headline earnings per share is expected to be between 35% 45% lower than the headline earnings of 41.09 cents per share of the corresponding period the year before. Basic earnings per share is expected to be between 30% and 40% lower than the basic earnings of 40.78 cents per share of the previous corresponding period.