ThinkSmart Update On Warranty Services Contract

03 Apr ThinkSmart Update On Warranty Services Contract

ThinkSmart Limited today announced that it has received notice that its warranty services contract with Dick Smith and the Warranty Group will not be extended beyond 7^th April 2012.

As foreshadowed at the time of the recent full year results announcement, the warranty services contract, which is not core to ThinkSmart’s strategy, was due to expire on 31 March 2012. In line with the company’s previous guidance the impact of the non renewal of this contract will be approximately $1.2m in NPAT for the remaining nine months of 2012.

This notice is unrelated to ThinkSmart’s primary contract with Dick Smith for its core RentSmart products which is scheduled for renewal in December 2014 and contains no change of control provisions.