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News from Andor Technology

BBC Radio - Andor Technology Interim Results


Reproduced with courtesy from the BBC - Interview of Conor Walsh, CEO Andor, with Eddie O’Gorman, Business Reporter, BBC Radio Ulster, on 21 April 2009.

Interim Results for the Six Months ended 31 March 2009

Belfast, Tuesday 21 April 2009 - Andor Technology plc (AND.L), the leading developer and manufacturer of high performance digital cameras for academic, industrial and government applications globally today announces interim results for the six months ended 31 March 2009.

Financial Highlights

  • Turnover up 40% to £16.1m (H1’08: £11.5m)
  • EBITDA up 95% to £2.3m (H1’08: £1.2m)
  • *Operating profit up 102% to £1.6m (H1’08: £0.8m)
  • *PBT up 107% to £1.7m (H1’08: £0.8m)
  • *EPS up 99% to 5.12 pence (H1’08: 2.57 pence)
  • £2.5m cash generated in the six month period

* Pre exceptional items

Operational Highlights

  • US sales up 60% driven by focus on OEM
  • Systems division sales up 66% and first systems sales in China
  • Successful mid-range product launches (iVac, Clara) with more to follow
  • New design contract win worth US$2.1m for delivery by 2010
  • Record order book entering second half of financial year
  • Well positioned to benefit from stimulus plans

Commenting on the results Conor Walsh, Chief Executive, said:

“In December 2007 we said the new strategy for the business would deliver from 2009 and onwards and to date that has been the case. We are seeing the benefit of many of the strategic initiatives launched at that time, but the better news is that there is more to come. Clearly this has been an exceptional period and it is important we set realistic and achievable expectations for the business going forward. There will be bumps in the road, but the business is now on a sound footing, delivering real profit and cash, with a clear strategy and full product roadmap.”

For further information, please contact:
Andor Technology plc Conor Walsh, Chief ExecutiveSinger Capital Markets Jeff Keating, Joint Head Corporate Finance
Tel. +44 (0) 28 9023 7126Tel. +44 (0) 20 3205 7500
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