Tenon downgrades earning expectations

Tenon has downgraded its earnings expectations, citing the high dollar and price reductions in the US.

It said earnings before interest, tax, depreciation and amortisation would be $24.6 million to $28.94 million before interest and foreign exchange income for fiscal 2006 compared with $34.3 million the previous year.

Ebitda for the half-year ending December is expected to be about $7.23 milion.