Reason:Oakton profit warning15:47, Wednesday, 21 January 2009...

Reason:

Oakton profit warning
15:47, Wednesday, 21 January 2009

Sydney - Wednesday - January 21: (RWE Aust Business News) -
Australian consulting and IT services provider Oakton (ASX:OKN) says
that as a result of the current financial crisis and the reduced levels
of Federal Government demand, the October 2008 to December 2008 trading
period has been below expectations as clients sought improved pricing
arrangements and in some situations delayed their planned consulting and
IT investment.
In addition, Oakton has assessed the commercial status of a
small number of projects and as a result, the earned value of these
projects will be reduced by an amount in the order of $4m in the
FY2009 first half result.
Whilst revenue for the first half is in line with last year the
impact of the general trading conditions and the project value reduction
will result in the FY2009 first half year profit result being below the
corresponding period last year. Current estimates, which are subject to
finalisation and external audit sign-off, have the NPAT for the FY2009
first half in the order of $6.5m.
A more comprehensive overview of the first half results and the
outlook for the remainder of FY2009 and beyond will be provided at the
FY2009 half year results briefings post the release of the FY2009 half
year results on the 17 February.