(Alliance News) - Kromek Group PLC on Wednesday said it secured repeat orders for its cadmium zinc telluride-based detectors from three medical imaging customers worth a total of USD1.1 million.
The Sedgefield, England-based detection technology supplier said the order helped address its key target market of single photon emission computed tomography.
It said the orders comprise a USD300,000 award for detectors for niche SPECT applications, which is expected to be delivered in Kromek's current financial year ending April 30, alongside a USD563,000 order from an original equipment manufacturer for niche SPECT applications and a USD205,000 order for niche medical imaging applications.
Kromek said the latter two orders are both from long-term customers, with delivery due to begin in its current financial year and to complete in its financial 2024.
"Receiving these orders from long-term customers in the medical imaging market highlights the regular, repeat nature of business in the advanced imaging segment, which is a real strength for Kromek. They also reflect the importance of SPECT and the sustained demand for our solutions in this area," said Chief Executive Officer Arnab Basu.
"As the only commercial independent global supplier of CZT, we are continuing to receive heightened interest from OEMs in our advanced detectors for SPECT and computerised tomography applications. The growth in demand from both new and existing customers reinforces the board's continued confidence in our prospects in this market."
Shares in Kromek were down 1.5% to 6.55 pence each in London on Wednesday before midday.
By Greg Rosenvinge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Kromek (KMK)