Xaar Plc, the Cambridge, UK-based ink-jet printing technology company, has finally turned the corner with a huge increase in revenue, substantially lower losses and growing interest in its technology from printer manufacturers.
The net loss for the six months to June 30 was 487,000 pounds ($759,233), down from a loss of 2.1m pounds ($3.2m) on revenue of 3.5m pounds ($5.4m), up from revenue of 542,000 pounds ($844,978). Chairman Arie Rosenfeld says the momentum is expected to continue in the second half of the year.
With most of its printing company customers in Japan, Xaar was badly hit by the Asian crisis. However use of its ‘laser killer’ technology is now picking up. Xaar says royalties have not yet come through from significant product launches in the first half including a color fax machine and a portable printer for use with laptop PCs.
