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Date: Wednesday 30 Apr 2008
LONDON (ShareCast) - Demand for security alarms in Europe has been stronger than Visonic anticipated prompting it to reiterate it expects a "material improvement in first half profits".
Sales for the first quarter of 2008 were up 19% at $20.9m in comparison with the first quarter of the previous year, much of this rise being derived from increased sales to Europe, it said in a statement.
This combined with cost reduction has meant overall a net improvement to profitability, despite the continuing adverse impact of currency movements, particularly the strength of the Israeli shekel against the US dollar.
"Based on April sales deliveries and the outstanding order book, we expect the improvement in sales momentum seen in the first quarter to be maintained through the second quarter of 2008," Visonic added.
Chip designer Imagination Technology said it has signed a licence agreement with Samsung with respect to certain Powervr SGX graphics and VXD video IP cores.
Under the terms of its licensing arrangements, Imagination receives licence fees and royalty revenues.
FTSE TechMARK - Risers
NXT (NTX) 12.50p +19.05%
Visonic (VSC) 49.00p +10.11%
Genetix Group (GTX) 55.00p +6.80%
Imagination Technologies (IMG) 75.00p +6.01%
Skyepharma (SKP) 9.94p +4.96%
Alphameric (ALM) 18.00p +4.35%
Gresham Computing (GHT) 62.00p +3.77%
Vernalis (VER) 5.98p +3.46%
Sepura (SEPU) 89.75p +3.16%
Optos (OPTS) 156.00p +2.63%
FTSE TechMARK - Fallers
Robotic Technology (RTS) 7.50p -18.92%
Phytopharm (PYM) 21.00p -4.55%
Tadpole Technology (TAD) 2.45p -3.92%
Oxford Biomedica (OXB) 25.25p -2.88%
ClinPhone (CNP) 83.00p -2.35%
Emblaze (BLZ) 46.00p -2.13%
Puricore (PURI) 25.25p -1.94%
Computacenter (CCC) 193.25p -1.90%
SDL International (SDL) 326.00p -1.88%
KCOM Group (KCOM) 46.25p -1.60%