One could almost hear the groans from Laird (LRD) shareholders. The wireless connectivity specialist confessed to a number of mistakes last year, asking investors to bail it out via a heavily discounted four-for-five rights issue.
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Chief executive Tony Quinlan said 2016 was a "disappointing year, where challenging conditions in certain key end markets were compounded by discrete, but material, inefficiencies in our own operations". Laird is now paying for its over-optimism on the integration of troubled vehicle connectivity systems provider Novero, as well as failing to quickly adapt to a low oil price environment and the delayed ramp-up of new smartphones.