Andor Technology falls after admitting divisional underperformance

Shares in scientific digital camera manufacturer Andor Technology dropped on Monday morning after it admitted order intake from the Americas in the first quarter was weaker than expected.

The firm said that while the situation improved in the second quarter it still expects the order intake from this region for the first half to be slightly down on the same period last year.

"It is important to note that no significant business has been lost," the company said. "Rather, this is the result of more prudent stock management on behalf of our OEM customers who are predominantly based in the Americas."

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Elesewhere, the group's Europe division is performing well, while Asia Pacific has continued to deliver strong growth in both order intake and sales.

The company is continuing to focus on expanding the operating margin and believes that these will improve again in the first half of this financial year compared with the same period last year.

The firm was keen to emphasise that it remains confident about the prospects for the business.

NR