REG - Xaar PLC - Trading Update

XaarAnnouncement

28/12/2018 07:05

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 £9.8 million of one off royalties received in the first half of the year) and revenue for 2018 as a whole to be around £64 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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