24th Mar 2014 10:51
LONDON (Alliance News) - Toumaz Ltd Monday said its consumer audio division, Frontier Silicon, has been selected to provide its digital radio DAB+ technology to Pioneer Corporation, a consumer and professional electronics manufacturer.
The wireless semiconductor technology company said that Pioneer will incorporate its DAB technology into an extended range of models, in response to growing demand across Europe for devices capable of receiving digital radio.
In a trading update on January 17, the company said that it expected to see declines in revenue, and its earnings before interest, tax, depreciation and amortisation loss to be narrowed for the full-year ended December 31, 2013. It said revenue is expected to be around GBP21.8 million, down from GBP22.3 million the year before.
Toumaz shares were trading 3.5% higher Monday morning at 3.23 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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