(Alliance News) - Kromek Group PLC on Tuesday said it has secured an an initial USD1.4 million order for its CZT-based detector modules from a new original equipment manufacturer customer.
Shares in the Sedgefield, England-based detection technology supplier were up 9.8% to 7.25 pence each in London on Tuesday morning.
Kromek said the contract, which is worth USD1.4 million, was signed with "an established player in the medical imaging sector in Asia."
The order is for the Kromek's CZT-based detector modules, to be used in the customer's next generation single photon emission computed tomography systems in niche applications. Delivery and revenue recognition will be in the current financial year, Kromek noted.
Chief Executive Officer Arnab Basu said: "This order from a new customer in Asia underscores the requirement of CZT-based detectors due to demand globally for early diagnosis of critical illnesses leading to better patient outcomes. This initial order improves the group's visibility over full year revenues, and as such the board is confident in delivering further significant growth in the year ending April 30, 2024."
By Sophie Rose, Alliance News reporter
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Kromek (KMK)