Last checked at 24 Jul 2012 07:00
24 July 2012
Ubisense Group plc
Half year end trading update
Cambridge, UK - Ubisense Group plc ("Ubisense" or the "Company") (LSE:UBI), a market leader in location based smart technology, provides an update on trading performance for the half year to 30 June 2012.
The business as a whole has continued to see good momentum and expects to report revenues at the half year which, on an underlying basis, are ahead of the same period in the preceding year.
The Geospatial division has continued to perform in line with Board expectations, and the contribution of the acquisitions completed in 2011 has been particularly pleasing.
In RTLS, the sales momentum has also continued to be strong and excellent progress has been made with a number of new customer signings, several of which have come through Atlas Copco. The division has continued to invest in this relationship which has helped to drive these orders. Whilst new business opportunities continue to grow, we experienced some delays with a small number of orders from the North American market. One of these orders has since been signed and the others are expected to come through during the second half.
The result of these delays is that full year revenues are likely to be marginally lower than previously expected and this, along with the increased investment, will have an effect on the Group's reported earnings for the year to December 2012, which are now expected to be within, but at the lower end of, market expectations.
Ubisense has a strong balance sheet with net cash at 30 June 2012 of over £3 million.
Richard Green, Chief Executive, commented:
"The Group has had a good first six months of 2012. The number of automotive opportunities in RTLS continues to increase as we are seeing more and more activity through our relationship with Atlas Copco. We remain confident in the long term prospects for the business."
Ubisense expects to publish its results for the half year to 30 June 2012 on 4 September 2012.
Contact: | |
Ubisense Group | Tel: +44 (0) 1223 535170 |
Richard Green | |
Gordon Campbell | |
Canaccord Genuity Limited (NOMAD) | Tel: +44 (0) 20 7050 6500 |
Simon Bridges | |
Kit Stephenson | |
FTI Consulting | Tel: +44 (0) 20 7831 3113 |
James Melville-Ross | |
Jon Snowball |
About Ubisense
Ubisense is a market leader of location-based smart technology which enables companies to optimise their business processes. By keeping track of key assets, Ubisense solutions bring clarity to complex operations in industries while also improving quality and reliability.
Ubisense uses a unique combination of advanced industry knowledge and an experienced team to deliver effective and superior solutions that offer unprecedented visibility, control and accuracy, delivering time and cost savings. Ubisense solutions are easy to implement and flexible to a particular businesses needs, no matter which area of the globe they operate in.
Ubisense offers two location-oriented products; RTLS (Real-time Location Solutions) and Geospatial Systems and operates in a number of industries ranging from manufacturing and utilities to transportation and is used by a number of blue chip customers across the world, such as BMW, Airbus, Aston Martin, Caterpillar and Deutsche Telekom.
Ubisense is headquartered in Cambridge, UK, with offices in the USA; Canada; France; Germany; Singapore and Korea. For more information visit: www.ubisense.net.