Business
Final Results and Notice of Annual General Meeting
Final Results and Notice of Annual General Meeting.
About this update from Windar Photonics Plc
[{"type":"text","content":"\n \nRNS Number : 1062P Windar Photonics PLC 24 May 2018 \n\n24 May 2018\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. \nWindar Photonics plc\n(\"Windar\", the \"Company\" or the \"Group\")\nFinal Results and Notice of Annual General Meeting\nWindar Photonics plc (AIM:WPHO), the technology group that has developed a cost efficient and innovative LiDAR wind sensor for use on electricity generating wind turbines, is pleased to announce its final results for the year ended 31 December 2017.\n \nFY2017 highlights\n \n· Revenue increased 85% to €2.2 million (2016: €1.2 million)\n \n· Gross Profit increased to €0.9 million (2016: €0.6 million)\n \n· Order intake increased four-fold to €5.9 million (2016: €1.4 million)\n \n· Order backlog at the end of 2017 for deliveries in 2018 increased to €3.9 million (2016: €0.2 million)\n \n· Reduced net loss for the year to €2.2 million (2016: €3.2 million) which included depreciation, amortisation and warrant costs of €0.8 million (2016: €0.7 million), as a result of higher gross profit and a continued reduction of operational costs \n \n· Cash at the end of 2017 of €1.1 million (2016: €0.8 million) excluding restricted cash holdings of €0.2 million (2016: €0.03 million)\n \n· Successfully completed further cost optimisations of our product lines and in parallel continued to add new innovative features like turbulence and wake detection\n \n· Ongoing OEM integration projects are at a record level going into 2018 and management expect Windar's LiDAR technology will to be awarded one or more design-in contracts in the near future\n \n· Successful equity fundraising during the year of £1.25 million\n \n \nPost period highlights\n \...