5th Jul 2021 14:43
Transense Technologies PLC - Bicester, England-based developer of specialist sensor systems for vehicles - Says it traded in line with market expectations in its financial year to June 30. Expects to post a revenue of around GBP1.8 million, excluding final quarter royalties which are due in July. Expects to post a post-tax profit and a positive earnings before interest, taxes, depreciation and amortisation.
Notes increase in sales and royalties from several products. Notes, Translogik tyre probe revenues increased significantly, up 50% year-on-year. Income from the company's iTrack business increased in the second half of the most recent financial year, especially in North America during the final quarter. Royalties up 80% since Transense sold iTrack to Bridgestone Corp, who have continued to embed the off-road tire management company into its mining solutions business. Continues to increase revenues from existing customers for its wireless sensing system - Surface Acoustic Wave - for technical support, engineering fees and additional system sales. Currently identifying new potential applications for the system across a range of industries.
Notes net cash of GBP1.0 million at June 30, compared to GBP1.2 million on the same date the year prior. Says audited full year results due to be released in late September.
Current stock price: 92.90 pence, up 5.6% on Monday afternoon
Year-to-date change: up 75%
By Scarlett Butler; [email protected]
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