Quixant PLC Notice of Results Update (5365G)
March 18 2020 - 3:00AM
UK Regulatory
TIDMQXT
RNS Number : 5365G
Quixant PLC
18 March 2020
18 March 2020
Quixant plc
("Quixant" or the "Group")
Notice of Results Update
Quixant (AIM: QXT), a leading provider of innovative, highly
engineered technology products principally for the global gaming
and broadcast industries, announces that the publication of the
Group's full year results are subject to a short delay of a week.
This is due to the time needed by the Group's auditor, KPMG LLP, to
complete its work, together with enhanced internal regulatory
scrutiny.
The Board believes the accounts to be substantially complete .
As announced in its January trading update, the Board expects to
report revenue for the year of $92.3m, adjusted profit before tax
of $10.7m and net cash of over $16m. The Group remains profitable
and cash generative with a strong balance sheet and a net cash
position at 29 February 2020 of $18.5m.
KPMG have confirmed that they will complete their work so that
the Board can release its full year audited results on 31 March
2020.
Naturally the Board is disappointed by the delay. However, it
emphasises that this delay relates solely to the additional level
of scrutiny required by the auditor's internal sign-off
formalities.
For further information please contact:
Quixant plc Tel: +44 (0)1223 892
696
Jon Jayal, Chief Executive Officer
Guy Millward, Chief Financial
Officer
Nominated Adviser and Broker:
finnCap Ltd Tel: +44(0)20 7220
0500
Matt Goode / Simon Hicks (Corporate
Finance)
Alice Lane (Corporate Broking)
Financial PR: Tel: +44 (0) 20 3405
0205
Alma PR
John Coles / Hilary Buchanan /
Kieran Breheny
About Quixant
Quixant, founded in 2005, designs and manufactures highly
optimised computing solutions and monitors principally for the
global gaming industry. The Company is headquartered in Cambridge
in the UK where the global sales function is based. North America
sales and sales support is run from their subsidiary in Las Vegas.
Quixant has its own manufacturing and engineering operation based
in Taiwan and software engineering and customer support team based
in Italy. All the specialised products software and manufacturing
are produced in-house and Quixant owns all its own IP some of which
is protected by patents and design rights.
In November 2015 Quixant acquired Densitron Technologies plc.
Densitron has a strong heritage in the sale of electronic display
solutions to global industrial markets. Through Densitron's
experienced sales team, Quixant has a robust platform to build its
business into wider industrial markets. In-depth information on the
Company's products, markets, activities and history can be found on
the corporate website at www.quixant.com.
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END
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