Steady trading at Andor Technology

Scientific digital cameras maker Andor Technology said trading conditions have remained similar to those experienced in the second half of the last financial year.

As a result, it expects revenue for the six months to March 31st 2013 to be modestly ahead of the previous six months but profit before tax, adjusted for the amortisation of acquired intangibles, may be marginally behind the equivalent figure in the previous six months.

The maker of sensor cameras said it also expects strong cash generation with cash balances at the period end in excess of £20.0m compared to £16.3m at the end of March 2012 and £18.4m at the end of September 2012.

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"The order book has strengthened, driven by strong performance in the OEM segment. In the period, Andor received two significant orders from existing OEM customers, valued at $2.6m and $2.1m respectively," the group said in a company statement.

These orders confirm customers' commitment to Andor as a supplier as well as signalling their confidence in demand for their own products. Draw down against the OEM order book was, however, less than expected in the first half, the group explained.

Its new sCMOS cameras for microscopy, the Neo and Zyla, continue to perform well and are gaining traction in the mid-range research market, it added.

Looking ahead, the group said it was positive about its future prospects as it increases its search for strategic acquisition opportunities.

CJ