LONDON (Alliance News) - Electrical Geodesics Inc on Thursday said it expects to report growth in revenue in the first half of 2016 and is confident on its prospects for the second half.
The neurodiagnostic medical technology company said it expects revenue in the first half to have grown to USD6.6 million from USD5.2 million a year before, while also anticipating grant income of USD0.9 million up from USD0.6 million.
Sales in North America rose to USD3.2 million from USD2.2 million, while Rest of World sales increased to USD3.4 million from USD3.0 million.
Electrical Geodesics added that it closed the period with a sales order book of USD2.2 million, all of which is expected to ship in the second half of 2016.
"For each of the last four quarters, sales have increased when compared to the comparable quarter of the previous year, resulting in sales growth over the last twelve months of almost 20%. Looking forward, we are confident about the prospects for the second half of 2016 and expect to deliver double digit sales growth for the full year," Chief Executive Don Tucker said in a statement.
Shares in the company were untraded on Thursday at 79.00 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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