Pacer Systems Inc, Unlisted Securities Market-quoted US defence software and equipment specialist says that as a result of the Pentagon having to cut its coat according to the cloth decreed by Congress instead of spending first and asking for cash to meet the cost overruns afterwards, its pre-tax profits this year will be significantly lower than the UKP2.5m it had forecast: in 1987, it reported pre-tax profits some 17% ahead at $2.1m.
PACER SYSTEMS YEAR-END PRE-TAX PROFITS TO BE LOWER THAN FORECAST
