Uecomm has just announced its fifth profit warning for 2001 calendar year and this time it told investors it would lose $59 million. This compares with the forecast loss of $12.5 million in June.

For markets, the most worrying aspect is the second-half revenue, which Uecomm said would be just $7 million to $8 million, compared with first half sales of $25.1 million. This compares with the $146.3 million forecasted in Uecomm's prospectus in September of last year. Even then, many commentators thought the forecasts were far too ambitious.