ProPhotonix Limited ProPhotonix Announces Trading Update (3377Z)
17 Mayo 2019 - 1:00AM
UK Regulatory
TIDMPPIX
RNS Number : 3377Z
ProPhotonix Limited
17 May 2019
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
May 17, 2019
ProPhotonix Limited
("ProPhotonix" or the "Group")
Trading Update
ProPhotonix Limited (London Stock Exchange - AIM: PPIX, OTC:
STKR), a high technology designer and manufacturer of LED
illumination systems and laser diode modules, with operations in
Ireland and the United Kingdom, today announces a trading update
for the 2019 fiscal year.
Trading conditions remain challenging and the Board currently
expects Group revenue for the year ending December 31, 2019 will
not likely exceed the 2018 full year ($16.4 million). Trading has
been inconsistent across our customer base due to product
introduction delays and the current business climate.
Tim Losik, CEO, commented:
"Our strategy, to support our significant OEM customer base and
to make continued investments in new product introductions, remains
a priority for the Board. We continue to invest in production and
technical capability as we take on new customers and develop
products. These investments, which will occur in advance of
realized revenue, will allow us to complete the production build
out necessary for OEM and UV LED products.
We continue to see an inconsistency in customer order behavior
in 2019 - with customers both falling below and exceeding our
budgeted projections. Second half revenue is still unclear and
whilst the Board considers it conservative, it is right to provide
this guidance to the market given these current uncertainties.
Measures are underway to partially mitigate the effect of the
revenue profile to shore up cash flow. We remain optimistic about
the future of the business as we build our OEM partnerships along
with a comprehensive portfolio of products."
Enquiries:
ProPhotonix Limited Tel: +1 603 893 8778
Tim Losik, President and CEO Email: ir@prophotonix.com
Cantor Fitzgerald Europe Tel: +44 (0)207 894 7000
(Nominated Adviser and Broker)
David Foreman
Richard Salmond
About ProPhotonix
ProPhotonix Limited, headquartered in Salem, New Hampshire, is a
high technology designer and manufacturer of LED illumination
systems and laser diode modules for industry leading OEMs and
medical equipment companies. In addition, the Company distributes
premium diodes for Ushio, Osram, QSI, Panasonic, and Sony. The
Company serves a wide range of markets including the machine
vision, industrial inspection, security, and medical markets.
ProPhotonix has offices and subsidiaries in the U.S., Ireland,
U.K., and Europe. For more information about ProPhotonix and its
innovative products, visit the Company's web site at
www.prophotonix.com.
Cautionary Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements
other than statements of historical fact, including without
limitation, those with respect to ProPhotonix's goals, plans and
strategies set forth herein are forward-looking statements. The
following important factors and uncertainties, among others, could
cause actual results to differ materially from those described in
these forward-looking statements: uncertainty that cash balances
may not be sufficient to allow ProPhotonix to meet all of its
business goals; uncertainty that ProPhotonix's new products will
gain market acceptance; the risk that delays and unanticipated
expenses in developing new products could delay the commercial
release of those products and affect revenue estimates; the risk
that one of our competitors could develop and bring to market a
technology that is superior to those products that we are currently
developing; and ProPhotonix's ability to capitalize on its
significant research and development efforts by successfully
marketing those products that the Company develops. Forward-looking
statements represent management's current expectations and are
inherently uncertain. All Company, brand, and product names are
trademarks or registered trademarks of their respective holders.
ProPhotonix undertakes no duty to update any of these
forward-looking statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTVQLFFKEFLBBD
(END) Dow Jones Newswires
May 17, 2019 02:00 ET (06:00 GMT)
Prophotonix (LSE:PPIX)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Prophotonix (LSE:PPIX)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024