Last checked at 20 May 2014 07:00
SCIENTIFIC DIGITAL IMAGING PLC
("SDI" or the "Company")
(AIM:SDI)
TRADING UPDATE
Scientific Digital Imaging plc, the AIM quoted group focused on the application of digital imaging technology to the needs of the scientific community, provides an update on trading for the year ended 30 April 2014.
The Board expects to report a profit before and after tax for the full year despite a small loss previously reported at the half year. The recent acquisition of Opus Instruments completed near the end of SDI's financial period and accordingly Opus's trading will first have a full year effect in 2014/5. Revenues during the year to 30 April 2014 were down slightly on the previous year, mainly due to pressure experienced in sales of Syngene instrumentation. Syngene, which produces equipment for life scientists to image and analyse electrophoresis gels used for DNA and protein analysis, has experienced pricing competition in the market place but this is being combated by SDI with the introduction of a new lower cost unit in the new financial year to 30 April 2015. Whilst below previous management expectations, the Company has achieved a second half profit and full year profit through the implementation of on-going cost efficiencies which are also expected to benefit trading in the new financial year.
Synoptics Health, which focuses on imaging technologies within the clinical environment, has made further sales of its ProReveal medical washroom product, with 26 demonstration units sold around the world so far. The Company expect to make further progress in the financial year to 30 April 2015 with a view to penetrating this large addressable market.
Ken Ford, Chairman of SDI commented: "The Company's recent successful acquisition of Opus Instruments demonstrates SDI's commitment to its long-term buy and build strategy. The second half profit and full year profit which we expect to report, together with the ongoing investment in the continued evolution of the Company's product range, gives the Board reason to remain cautiously optimistic for trading in this new financial year."
The preliminary results for the year to 30 April 2014 will be released in July 2014.
- Ends -
For further information please contact:
Scientific Digital Imaging plc
Ken Ford - Chairman
Mike Creedon - Chief Executive Officer
+44 1223 727144
finnCap
Ed Frisby/Ben Thompson - Corporate Finance
Mia Gardner - Corporate Broking
+44 20 7220 0500
JW Communications
Julia Wilson - Investor & Public Relations
+44 7818 430877
Note to Editors
About Scientific Digital Imaging plc
Scientific Digital Imaging plc (SDI) is focused on the application of digital imaging technology to the needs of the scientific and technology community. Its principal subsidiary is Synoptics Limited, which designs and manufactures special-purpose instruments for use mainly in the life sciences, supplying customers in the academic, research and health sectors. Within Synoptics, the recently formed Synoptics Health division has launched the Synoptics Health ProReveal system. This patented system offers a highly sensitive fluorescence-based test to detect dirty surgical instruments in hospitals and aims to reduce incidences of cross contamination of patients. In addition, under the Atik brand, SDI designs and manufactures high-sensitivity cameras for both astronomical and life science applications.
www.scientificdigitalimaging.com