January 29, 2015 3:20 AM ET

Semiconductors and Semiconductor Equipment

Company Overview of Kromek Group plc

Company Overview

Kromek Group plc designs, develops, and produces x-ray and gamma-ray imaging, and radiation detection products for medical, security screening, and nuclear markets in the United Kingdom, North America, Asia, Europe, and Australasia. The company’s nuclear detection products include Kromek GR1, a gamma ray spectrometer; GR1-A, a USB-powered gamma spectrometer; SIGMA, a technology platform of scintillator products; TN15, a sensitivity thermal neutron detector; RadAngel, a personal radiation detector; MultiSpect spectrometry software; and Quant for GR1, a solution for measuring the activity of radionuclides. Its nuclear detection products also comprise RadAngel for Schools, a portable gamma-ray ...


Thomas Wright Way

Sedgefield,  TS21 3FD

United Kingdom

Founded in 2003

100 Employees


44 1740 626060


44 1740 626061

Key Executives for Kromek Group plc

Chief Executive Officer and Executive Director
Age: 41
Total Annual Compensation: $177.0K
Chief Financial Officer
Age: 48
Total Annual Compensation: $48.0K
Compensation as of Fiscal Year 2014.

Kromek Group plc Key Developments

Kromek Group plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended October 31, 2014; Provides Earnings Guidance for the Second Half of Fiscal Year 2015

Kromek Group plc reported unaudited consolidated earnings results for the six months ended October 31, 2014. For the six months, the company reported revenue of GBP 3,165,000 compared to GBP 2,372,000 for the same period last year. The revenue growth was generated from nuclear and security product sales, and supplemented by government contracts and sales to OEMs in the medical imaging sector and sales of bottle scanners. Operating loss was GBP 2,305,000 compared to GBP 1,968,000 for the same period last year. Loss before tax was GBP 2,289,000 compared to GBP 2,481,000 for the same period last year. Loss from continuing operations was GBP 1,790,000 compared to GBP 1,833,000 a year ago. Basic and Diluted loss per share was GBP 0.01 compared to GBP 0.09 a year ago. Net cash from operating activities was GBP 1,384,000 compared to GBP 92,000 for the same period last year. Purchases of property, plant and equipment was GBP 1,396,000 for the six months ended October 31, 2014. Adjusted LBITDA was GBP 1,562,000 compared to GBP 2,023,000 a year ago. LBITDA was GBP 1,654,000 compared to GBP 1,429,000 a year ago. Purchases of patents and trademarks were GBP 299,000 for the six months ended October 31, 2014. The company provided earnings guidance for the second half of fiscal year 2015. The company expects to be EBITDA positive for the second half of the fiscal 2015. The company also expects to achieve a higher rate of revenue growth for the remainder of the year and into next year, primarily through expansion in the number and scope of customer-funded development projects.

Kromek Announces Nuclear Detection Market Contract Extension with Leading Global Security Company

Kromek announced that it has been awarded a $1.0 million contract extension by a leading global security company providing innovative systems, products and solutions to government and commercial customers worldwide. This follows the successful completion of the first phase for the design of Cadmium Zinc Telluride based detectors and ASIC for nuclear safeguard markets. Under the terms of the contract for this second phase, Kromek will focus on the delivery of the new ASIC and detectors as well as the testing and characterization of detector modules. The Company expects to deliver this over the next 12 months. Additionally, the Company has been awarded several new contracts, worth approximately £0.7 million in aggregate with £0.4 million realisable in the current financial year, for applications across the Company's three segments.

Kromek Progresses to Second Year of Development Contract with Global OEM in CT Medical Imaging Markets

Kromek announced that a top four Original Equipment Manufacturer in the Computed Tomography market has confirmed its decision to progress to the second year of a previously announced programme with the Company. Kromek has received a $1 million exclusivity payment for the second year. This payment is part of a programme that comes under Kromek's mutually exclusive development contract, worth up to $5.3 million, with the OEM for developing and supplying Cadmium Zinc Telluride based multispectral (colour) detectors for producing high resolution colour X-Ray images by CT scanners. The decision to continue the programme for the second year was based on sustained progress towards meeting the aims of the development programme.

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