News Article
Business booming at Oxford Instruments with revenues up 28.6%
The supplier of plasma process tools, for research into and production of a number of key compound semiconductor applications has also seen improvements in sales and in its order book
Oxford Instruments has announced its preliminary results for the year up to 31st March 2012.
The company is a provider of high technology tools and systems for research and industry. It designs and manufactures equipment that can fabricate, analyse and manipulate matter at the atomic and molecular level.
Oxford Instruments has discrete business groups operating in three sectors; nanotechnology, industrial products and service. Among other things, the firm manufactures microanalysis systems and etching and deposition and growth tools used in the compound semiconductor industry.
Revenue was up 28.6% over last year from £262.3 million to £337.3 million. Adjusted profit before tax was also up 60.3% from £26.2 million in 2011, to £42.0 million. Adjusted EPS also increased by 48.4% to 61.6 pence.
The firm also experienced a 23.5% increase in order intake to £337.8 million (in 2011 it was £273.5 million). Oxford Instruments says it achieved record performance across all three business sectors, with strong organic growth in all territories.
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Three acquisitions were made during the year; Omicron Nanotechnology, Omniprobe and Platinum Medical Imaging. The company strengthened its new product pipeline, with 44% of revenue from products launched or acquired in the last three years, up from 34% in 2011.
Proposed final dividend increased by 11.6% to 7.23 pence, giving a total dividend for the year of 10.0 pence (2011: 9.0 pence)
Jonathan Flint, Chief Executive of Oxford Instruments plc, comments, “We are now two months into the second year of our 14 Cubed plan. Trading to date has been in line with our expectations and our markets remain strong despite continued economic uncertainty, particularly in Europe."
"A healthy pipeline of new product introductions is in place and we are investing across the business to increase efficiency, strengthen our market positions and drive further profitable growth. We are well positioned to build on the opportunities presented by emerging markets and to take advantage of new applications and technologies as they arise. We continue to look for bolt-on acquisitions to complement our existing businesses," he adds.
“A changing market presents interesting opportunities as well as challenges and we are confident that we have the structure, products and talent in place to make further progress in the current year and beyond.”
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