Quixant PLC Trading Update and Notice of Results (7344Y)

TIDMQXT

RNS Number : 7344Y

Quixant PLC

29 January 2014

Quixant plc

("Quixant" or the "Company")

Trading Update and Notice of Results

Quixant (AIM: QXT), a leading provider of specialised computing platforms for casino gaming and slot machine applications, today announces an update on trading for the 12 months ended 31 December 2013.

The Board is pleased to announce that profit before tax is expected to be in line with market expectations. Revenue is expected to be in the region of USD$24.2m (2012: USD$21.6m).

At the end of the period, one of the new Tier 2 customers referred to in the interim results announced in September 2013 agreed a new three year supply contract, formalising its relationship with Quixant until December 2016. The signing of this agreement underpins the Company's growth expectations for 2014.

Nick Jarmany, CEO of Quixant, commented: "This was a pivotal year for Quixant and I am pleased that we will be reporting profits in line with market expectations. We continue to bring on new customers and deepen our relationship with existing customers. The three year agreement with one of our new Tier 2 customers demonstrates the long term nature of our relationship with customers.

"I am confident that we will continue to grow our customer base and market share."

Notice of Results

Quixant will announce their final results for the year ended 31 December 2013 on Tuesday, 25 March 2014.

For further information please contact:

 
Quixant plc                                       Tel: +44 (0) 1223 892696 
Nick Jarmany, CEO 
Jon Jayal, General Manager 
 
Nominated Adviser and Broker:                     Tel: +44 (0) 207 131 4000 
Smith & Williamson Corporate Finance Limited 
Azhic Basirov, Siobhan Sergeant, Oliver Cummings 
 
Financial PR:                                     Tel: +44 (0) 207 653 9850 
Newgate Threadneedle 
John Coles, Fiona Conroy, Hilary Millar

About Quixant

Quixant, founded in 2005, designs and manufactures complete advanced hardware and software solutions (Gaming Platforms) for the pay-for-play gaming and slot machine industry. The Company is headquartered outside of Cambridge in the UK. Quixant UK Ltd is responsible for the group's global (excluding North America) sales function and its Las Vegas based subsidiary, Quixant USA Inc, is responsible for sales and sales support to the North American market. Quixant has its own manufacturing and engineering operation in Taiwan, which has evolved with the rapid growth of the Company. Quixant's Italian subsidiary, Quixant Italia, houses the Group's software engineering and customer support team.

Quixant's high quality, specialised products provide an all-in-one solution, based on PC technology but with augmentative hardware features and operating software developed specifically to address the requirements of the gaming industry. Products feature innovative mechanical designs which are optimised for operation in the gaming and slot machine environment. Quixant's proprietary hardware and embedded software is flexible in its design, enabling Quixant to easily respond to changes in regulation or customers operating in different markets or jurisdictions.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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