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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - Profit before tax dropped 67% in the first half at microwave radio and satellite transmission products supplier Vislink, which will also buy Pacific Microwave Research Inc for up to $17m.

It reported a drop in pre-tax profit for the six months ended 30 June to £2.29m from £6.97m on revenue up a touch to £46.61m from £46.15m in 2007, in line with expectations.

The group blamed the fall in profits on a change in product mix in its US RF business and weaker operating margins due to the rising cost of working to complete the 2GHz relocation programme.

Vislink has also agreed to pay as much as £9.1m for California firm Pacific Microwave, a specialist in analogue and digital microwave video transmission solutions for law enforcement, Homeland Security, and military applications.

An impairment charge pushed ProStrakan deeper into losses in the six months to June 30 even as new product launches and the stronger euro helped the speciality pharmaceuticals group lift revenues.

Total revenues in the six months ended June 30 climbed to £26.4m from £20.9m over the same period a year ago, with product sales climbing to £25.4m from £18.5m.

The stronger euro accounted for 9% of product sales growth, the Galashiels-based company said.

FTSE TechMARK - Fallers
Vislink (VLK) 25.00p -7.41%
Gresham Computing (GHT) 70.00p -4.76%
ServicePower (SVR) 5.13p -4.65%
Vectura Group (VEC) 55.00p -2.22%
Pace (PIC) 86.75p -1.98%
Phoenix IT Group (PNX) 245.75p -1.70%
Elan Corporation (ELA) € 8.92 -1.65%
Skyepharma (SKP) 3.05p -1.61%
Renovo Group (RNVO) 37.00p -1.33%
Protherics (PTI) 57.50p -1.29%

FTSE TechMARK - Risers
Biocompatibles International (BII) 173.00p +3.90%
Axis-Shield (ASD) 313.00p +3.90%
Intec Telecom (ITL) 41.75p +3.09%
Oxford Biomedica (OXB) 10.25p +2.50%
Innovation Group (TIG) 16.25p +1.56%
KCOM Group (KCOM) 38.50p +1.32%
Alizyme (AZM) 8.23p +1.23%
ProStrakan (PSK) 90.00p +1.12%
Antisoma (ASM) 24.00p +1.05%
SDL International (SDL) 356.25p +0.99%

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