Last checked at 22 May 2008 16:18
Concurrent Technologies Plc AGM Statement
At today's Annual General Meeting of Concurrent Technologies Plc (the "Company") which manufactures high end embedded computer products for critical applications in the defence, aerospace, transportation, telecommunications, scientific and industrial markets, Michael Collins, Chairman, made the following statement:
"2008 has started well for the Company especially in its principal markets, namely: defence and telecommunications. Sales leads continue to grow and our first quarter revenues for this year were encouraging. We expect to build on this good start in the second quarter.
Our investment in design and development continues with the establishment in early 2008 of a new subsidiary company in Bangalore, India creating an additional and significant design facility. This facility should provide the further engineering resources needed to enhance our ability to introduce a broader range of products based on the latest processor technologies from Intel‚®, as well as producing complementary products. In so doing, it will allow the Company to fulfil a larger proportion of its customers' hardware requirements, and should help drive new sales as well as expand our global reach.
Since the preliminary results statement in March, the Company has demonstrated this strategy by releasing a MicroTCA¢â€ž¢ system product. This system incorporates our high performance Intel‚® dual-core processor Advanced Mezzanine Card as well as our complementary storage and graphics products into an integrated and pre-configured system, ready for use by customers as a development system for their own applications.
The Company will continue to develop further both its established and new sales channels as we maintain our focus on growth, high margin product development and remaining a leader in the field. At this time, we look forward to the remainder of 2008 with confidence."
22 May 2008Concurrent Technologies Plc 01206 752 626 Glen Fawcett, Managing Director Nexus Financial Ltd 020 7451 7050 Nicholas Nelson/Kathy Boate Nominated Adviser 0141 221 7733 Brewin Dolphin Investment Banking Alan Stewart
All trademarks, registered trademarks and trade names used in this announcement are the property of their respective owners.
vendor