Last checked at 1 Jun 2011 13:00
1 June 2011
SCIENTIFIC DIGITAL IMAGING PLC
("SDI" or "the Company")
Trading Update
The Board of SDI, the AIM quoted group focused on the application of digital imaging technology to the needs of the scientific community, provides the following update on trading for the year ended 30 April 2011.
The Company expects to report its full year results on 19 July 2011. Revenue is expected to be over £7.4m for the year, an increase of 4% over 2010. Due mainly to a number of difficulties encountered in the run-up to the year end, however, the Company expects to report a pre-tax loss of less than £0.2m. This is below expectations, although it should be noted that the order book was very strong at the year end and continues to be more robust than usual at the start of the new financial year.
The major adverse factors affecting the result were:
·; A large proportion of the order book towards the year end originated from customers in the Far East, and the payment terms and administration associated with these orders meant that their shipment was not possible until the new financial year.
·; There were difficulties in sourcing key components for its digital imaging products, some of which are manufactured in Japan.
·; A supplier damaged a mould, thereby delaying shipments
The Board is optimistic that the robust order book and continued positive response to products introduced and updated during the year should contribute to improved trading in the year to April 2012.
The Board continues to pursue a focused strategy of acquiring digital imaging companies in the life sciences sector and in other scientific markets, as well as seeking to generate organic growth.
FOR FURTHER INFORMATION
Scientific Digital Imaging plc 01223 727144
Harry Tee CBE, Chairman
Phil Atkin, CEO
www.scientificdigitalimaging.com
Bishopsgate Communications 020 7562 3350
Deepali Schneider
Natalie Quinn
sdi@bishopsgatecommunications.com
finnCap Limited 020 7600 1658
Sarah Wharry
Charlotte Stranner