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Banknote authentication group Spectra Systems booked a 42% fall in first-half profit but forecast a better performance in the second.
Pre-tax profit for the six months through June fell to $2.0m, compared to a profit of $3.4m on-year.
Revenue fell 20% to $6.4m, which the company said was due to a large customer order in the previous corresponding period.
'The company's first half revenues and earnings are significantly lower than last year due to the front loaded scenario of 2018,' chief executive Nabil Lawandy said.
'This is fully in line with the board's expectations for the first half and is due to the increased manufacturing of materials required in the first half last year by our G7 customer.'
'Our second-half results are expected to be significantly higher than the second half of 2018 primarily due to revenue contracted in the second half relating to the development work for the same customer.'
'The board therefore believes that the company is on track to achieve record earnings for the full year.'