Concurrent Technologies Share News (CNC)

LONDON (Alliance News) - Concurrent Technologies PLC said Tuesday it has traded in line with expectations in the year so far.

In a statement released ahead of the company's annual general meeting Tuesday Chairman Michael Collins said "Our investment in developing single board computers with AMC architecture is producing good revenues, particularly from product applications in telecommunications.

"These revenues have helped to offset the UK government export licencing issues that the company expects to be relaxed during June 2014," said Collins.

"Our engineering skill set has been expanding since we began recruiting for our new [research and development] facility in Massachusetts, USA, and our financial position remains strong after paying an increased second interim dividend. The board remains positive about the outlook for the rest of the year," Collins added.

Concurrent Technologies designs and manufactures high-end embedded computer products for critical applications in the defence, aerospace, telecommunications, transportation, scientific and industrial markets.

Concurrent shares were Tuesday quoted at 43.00 pence, up 4.9%.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2014 Alliance News Limited. All Rights Reserved.