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Renishaw sees lower revenue for current full year

Reuters - UK Focus

July 29 (Reuters) - British precision engineering company Renishaw Plc (Other OTC: RNSHF - news) forecast lower revenue for the current fiscal year, saying that it was hard to predict how many large orders it would win.

Analysts have in the past linked Renishaw's large order wins to the launch of new products from Apple Inc (NasdaqGS: AAPL - news) , which last week cast doubts over the strength of the global smartphone market and its fourth-quarter revenue forecast fell short of analyst estimates.

Renishaw said it expected revenue to be in the range of 460 million pounds to 485 million pounds ($718 million-$756 million) for the year ending June 30, 2016.

The company posted revenue of 494.7 million pounds for the previous year. ($1 = 0.6412 pounds) (Reporting by Esha Vaish in Bengaluru; Editing by Gopakumar Warrier)