Zettlex posts solid financial results for 2008 and reports good prospects for 2009.
We are pleased to report that Zettlex’s sales for the company’s financial year 2007/08 were £1,4M. Our forward workload is good with order coverage for more than 12 months. Importantly, during 2008, Zettlex acheived a number of significant design wins which will form the basis for accellerated growth during 2008/09 and beyond, in spite of the economc downturn. Such design wins are a very important milestone since they mark the successful completion of engineering work and the potential for accellerated revenue growth as production begins. Encouragingly, design wins have been acheived in a wide variety of applications and market sectors – most notably in aerospace, defence, petrochem, industrial and marine. We plan to increase our sales & marketing efforts during the coming year and in Q1/Q2 we will be announcing some important product launches. Profit as a percentage of turnover was modest during 2007/08 due to investments in R&D, recruitment, production & test equipment. Our R&D portfolio is especially promising and is beginning to yield innovations in materials science and microelectronics which, in turn, enable our sensors to increase their accuracy and operating enveleope.