Xaar PLC Trading Update (6159L)
December 28 2018 - 2:00AM
UK Regulatory
TIDMXAR
RNS Number : 6159L
Xaar PLC
28 December 2018
Xaar plc
Trading Update
Xaar plc ("Xaar"), a world leader in industrial inkjet
technology, provides a trading update:
Further to our interim results statement in September, trading
in the three months to December 2018 has continued at levels below
our expectation. While good progress has been made in developing
potential future revenue streams through partnerships with a number
of OEMs who are basing their next generation products on the Xaar
5601 Thin Film printhead technology, revenues in the shorter-term
have continued to be adversely impacted by declining sales into
Ceramics and slower than expected uptake of the Xaar 1201
product.
As a consequence, the Board now expects revenue in the six
months to December 2018, the second half of the 2018 financial
year, to be only slightly better than the first half (excluding
GBP9.8 million of one off royalties received in the first half of
the year) and revenue for 2018 as a whole to be around GBP64
million. Sales mix effects are expected to continue to adversely
impact gross profit margins.
The Board continues its review of strategic options for more
extensive partnering in the printhead business unit and we expect
to update shareholders on progress with this when we announce
preliminary results on 21 March 2019.
Enquiries:
Xaar plc +44 (0)1223 423 663
Doug Edwards, Chief Executive Officer
Shomit Kenkare, Chief Financial Officer
Tulchan Communications +44 (0)20 7353 4200
James Macey White
David Ison
About Xaar
Xaar is a world leader in the development of digital inkjet
technology. Our technology drives the conversion of analogue
printing and manufacturing methods to digital inkjet which is more
efficient, more economical and more productive than the traditional
methods which have been in use for years. We design and manufacture
printheads as well as systems for product decoration and industrial
3D Printing which use our inkjet technology. We are the only truly
independent inkjet technology company with over 25 years of know
how. We offer unrivalled inkjet expertise including technology and
printhead design and development, and manufacture highly customised
product decoration systems and industrial 3D Printing for volume
manufacturing. Our unique technologies and products are the leading
enabler for innovation and for driving supply chain efficiencies
for many industries. Additional information about Xaar is available
at www.xaar.com
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END
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