Psion Plc expects operating profit for the year to December 31 to be in line with expectations though its Teklogix industrial handheld computer business is still being hit by the curb on corporate IT spending.
The Cambridge, UK-based company said that results for the second half are likely to be in line with those for the first six months when it reported revenue of 59.7m pounds ($94.9m) and operating income of 3.1m pounds ($4.9m).
Now that closure of the consumer PDA Psion Digital business is nearing completion, Teklogix provides the bulk of revenue and Psion says that it remains competitive and continues to win new business.
Psion said its mobile OS spin out Symbian, in which it retains a 26% stake, continues to make good progress. While the weak financial state of the wireless telecoms market continues to be a risk, the first volume smartphone products from Symbian licensees continue to come to market. At the beginning of this month there were 20 Symbian phones under development from eight licensees.
It says that realizing its investment in Symbian continues to be a key strategic goal, though in current financial markets an IPO must be a distant prospect. Psion insists that its cash resources are more than sufficient to support investment in both Symbian and organic development at Psion Teklogix.
Given the current state of technology markets, Psion plans to write off 3m pounds ($4.8m) from minority investments in digital radio developer Radioscape Ltd and wireless software company Widcomm Inc.