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Xaar PLC XAR IMS and Corporate Open Day



  Xaar PLC (XAR) - IMS and Corporate Open Day

RNS Number : 9481O
Xaar PLC
18 October 2012
 



 

 

 

FOR IMMEDIATE RELEASE 18 October 2012

 

 

 

                                   Xaar plc

                                       

                                       

             INTERIM MANAGEMENT STATEMENT AND CORPORATE OPEN DAY

 

 

Xaar plc  ("Xaar"  or  "the  Group"), the  inkjet  printing  technology  group 
headquartered in  Cambridge,  is  providing an  Interim  Management  Statement 
covering trading from 1 July 2012. 

 

Revenues for the  third quarter  of the  year were  in line  with the  Board's 
expectations.  Sales continued to grow through the period, which resulted in a
record revenue performance for the quarter.  The Board continue to  anticipate 
further growth in sales in the fourth quarter, with the outlook for full  year 
revenue in line with expectations.

                                                                              

Gross margin in the third quarter was slightly higher than the margin achieved
in the  first half  of the  year, as  production efficiencies  from  increased 
output more than offset  the impact of the  previously announced volume  price 
discounts.  Overall gross margin in the second half of 2012 is expected to  be 
at least as strong as the first half of the year.

 

Operating profit in the third quarter benefited from the growth in both  sales 
and gross margin although, as planned, the continued increase in investment in
R&D resulted  in a  higher level  of operating  costs.  The  outlook for  2012 
profitability continues to be in line with the Board's expectations.

 

The Group's balance sheet remains strong with net cash at 30 September 2012 of
£18.8 million (30 June 2012: £15.7 million, 31 December 2011: £17.4 million).

 

On Tuesday, 23^rd October 2012, Xaar is hosting an open day for investors  and 
analysts at its Huntingdon manufacturing  facility.  The purpose of the  event 
is to explain how Xaar's technology adds value in the end markets in which  it 
operates, and to highlight the long term potential for digital inkjet.  No new
information will be presented.

 

END

 

CONTACTS

 

Xaar plc:                                       01223-423663
Ian Dinwoodie, Chief Executive                  www.xaar.com
Alex Bevis, Finance Director
Singer Capital Markets Limited:                020-3205-7500
Shaun Dobson
Bankside Consultants:
Simon Bloomfield                020-7367-8888 / 07771-758517
James Irvine-Fortescue

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCLLFSRILLDLIF -0- Oct/18/2012 06:00 GMT
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