Transense Technologies PLC - specialist sensor systems developer - Says revenue from Surface Acoustic Wave technology and Translogik probe products "substantially ahead" of the modest level achieved in equivalent period last year. Rate of royalty income from iTrack increasing as expected, with expectations of further growth as the licencee continues to implement its roll-out and marketing strategy. As such, net result for the financial year to date is around break even and cash neutral, in line with management expectations and is optimistic about the outlook for the full year and beyond.
"We have taken some important first steps in building sustainable long term value for all of our stakeholders. We are now operating from a secure financial platform, with clear visibility of future revenue growth and medium term commercial opportunities to enhance these returns," says Chair Nigel Rogers.
Current stock price: 55.00 pence
Year-to-date change: down 26%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Transense (TRT)