Business
Pre-Close Trading Update
Pre-Close Trading Update.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n RNS Number : 7409E Cyan Holdings Plc 29 December 2009 \n \n29 December 2009\nCyan plc\n(\"Cyan or \"the Company\")\n\nPre-Close Trading Update\n\nCyan (AIM:CYAN), the fabless semiconductor company providing configurable application software and production ready modules based on feature rich, low power, microcontroller chips, is pleased to provide the following pre-close trading update:\n\nProduction Orders\nProgress continues to be made at the Company, which has sold tens of thousands of microcontrollers, thousands of wireless gas meter controllers and hundreds of street light controllers. These have been used for prototypes, pre-production and field trials. The number of customers carrying out field trials continues to grow and none of the customers which have purchased products from Cyan have chosen an alternative supplier or cancelled their respective projects. Some are awaiting the release of government funding and some are waiting for their respective customers to place a production order for a product that has passed field testing. \n\nThe Board of Cyan has put diligent efforts into supporting prospective customers and is confident that volume production orders will be confirmed next year.\n\nProducts\nCyan's value proposition is a complete and low cost solution, designed to deliver fast ROI. \n\nIn our chosen markets Cyan's Microcontrollers perform all required functions with a single microcontroller where competitor solutions require two. Additionally Cyan's 16 bit microcontrollers are used where competitors require more expensive 32 bit systems. Cyan's solutions are therefore lower cost and lower power, which delivers further per unit cost reduction by reducing battery cost. \n\nIn Asia wireless meters enable remote reading and remote switch off in the event of non-payment. In India (where the Board believes 40%-50% of electrical supplies are stolen) remote wireless meter reading allows profiling of household energy usage to identify the culprits. \n\nWhere demand exceeds generating capacity, wireless meters enable demand control, eliminating brownouts or minimising the requirement to import expensive electrical energy. In Europe, billing according...