Business
Contract Win & Trading Update
Contract Win & Trading Update.
About this update from Time Finance Plc
[{"type":"text","content":"\n Timestrip PLC\n13 August 2007\n\n\n\n Timestrip plc (the 'Company') (AIM: TIME)\n \n Significant Contract Win and Trading Update\n \n The Company is a developer and manufacturer of unique label technologies.\n\nThe Company is delighted to announce that it has signed a three year rolling\ncontract to supply the unique Timestrip technology to one of North America's\nleading consumer product companies.\n\nThe deal, estimated to be worth a minimum of US$3million in revenues to the\nCompany over the first three years, involves the integration of the Timestrip\ninto a market leading product that is currently used in millions of homes across\nthe world. However, it is currently subject to confidentiality restrictions\nrelating to the details of the product and the identity of the customer.\n\nThis revenue estimate is based only on sales in North America, but the\nopportunity exists for significant additional revenues in the event that the\ntechnology is adopted by the customer on identical products that they currently\nsell worldwide.\n\nThis contract, which was referred to in the Company's recent preliminary\nresults, is the first of several significant deals which are expected to be\nsigned during the course of 2007.\n\nSales cycles across large global multinationals are lengthy and it now seems\nlikely that the timing of these deals is such that they are not likely to\ncontribute materially to revenues in 2007. Accordingly, whilst the Company\nexpects the revenue for the year to be above those of 2006, it now expects them\nto be lower than current market expectations for 2007. However, the deals\ninvolve the integration of technology into established products lines and will\ntherefore have a recurring revenue impact into the longer term.\n\nThe Company is pleased to report that it is experiencing unprecedented levels of\nnew enquiries especially across the food and pharmaceutical sectors, which in\nturn is generating a strong sales pipeline.\n\nInterim results are expected towards the end of September at which time\nShareholders will be provided with an update on the Company's continued\nprogress.\n\n\nEnquiries:\n\nPaul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700\n\nShane Dolan, Biddicks 020 7448 1000\n\nFergus Marcroft, Evolution Securities 020 7071 4300\n\n\n\n This information is provided by RNS\n The co...