13th Feb 2014 08:31
LONDON (Alliance News) - Oxford Instruments PLC said Thursday that it anticipates full-year results broadly in line with the previous year, as it expects a strong February and March to offset lagging year-to-date sales.
The provider of technology tools and systems for industry and research said its year to date sales are behind the previous year. However, it expects this to be offset in February and March, despite the strengthening of sterling and under performance at its Omicron facility in Germany.
Oxford Instruments said positive trends it had seen in the second quarter of the year had continued, with orders in the four months since September ahead of the previous year.
The company said the integration of RMG Technology, which it acquired in November 2013, was progressing to plan, and it had seen interest from its Industrial Analysis customers for the new unique laser technology RMG brings.
Oxford completed its acquisition of AIM-listed Andor Technology PLC for GBP175 million in January. The acquisition was funded from existing cash resources and a new GBP100 million revolving finance facility and a GBP60 million term facility.
The company also acquired Germany based Roentgenanalytic Systeme in December 2013, which it said will broaden its Industrial Analysis businesses product range.
Shares in Oxford Instruments were trading down 3.6% at 1,455.88 pence shortly after the market open Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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