Kromek is pioneering digital colour imaging for x-rays and has brought ground-breaking innovation to materials technology and advanced 3D imaging, that will literally change the way in which we see the world.


The Company specialises in making semiconductor materials within the Cadmium Telluride family. These materials have significant applications as detectors of x-rays and gamma rays, notably in medical imaging, security screening, industrial inspection and space exploration, allowing for very precise identification of materials.



Cadmium Zinc Telluride is also the material of choice as a substrate for the fabrication of infrared detectors in both civilian and military markets. In addition to its range of semiconductor materials, detector packages and non imaging detection systems Kromek also supplies x-ray imaging packages with multi view capabilities.

These x-ray display platforms provide real 3D x-ray imaging for the first time without specialist viewing equipment. When photogrammetric algorithms are applied to these images, three dimensional co-ordinate data is produced.

Kromek Group is listed on London's alternative Investment Market, AIM. Its ordinary shares carry the symbol KMK. Kromek Group plc is incorporated in England and Wales under the Companies Act 2006 (registration number 8661469). Its main countries of operation are the United Kingdom and the United States.

http://www.kromek.com/

New Orders Received in Medical Imaging

RNS


RNS Number : 0459B

Kromek Group PLC

27 February 2014






Embargoed until: 0700hrs, 27 February 2014



Kromek Group plc

("Kromek" or "the Company")

New Orders Received in Medical Imaging



Kromek, a supplier of patented radiation detection technologies to the medical, security and nuclear markets, announces that it has secured $845,000 of new orders to supply radiation detectors and integrated electronic components to a globally leading Original Equipment Manufacturer ('OEM') operating in the Dual Energy X-ray Bone Mineral Densitometry ('DEXA BMD') market. The total booking this fiscal year from this customer now exceeds $1.25 million.

DEXA BMD is the most accurate imaging technique to diagnose the strength and health of bones, allowing clinicians to accurately detect, monitor and treat Osteoporosis in patients. DEXA BMD is another medical diagnostic imaging modality where improved x-ray detection and imaging detail helps early diagnostics and intervention, which enables healthcare providers to operate more efficiently and manage costs against a backdrop of global healthcare budget pressures.

The new orders to supply detection components based on Kromek's Cadmium Zinc Telluride ('CZT') technology, are in addition to an existing contract the Company has in place with the OEM partner, in a global BMD market expected to surpass $895 million by 2017.

Commenting on the announcement, Arnab Basu, CEO of Kromek, said: "This latest order from this existing OEM partner builds on an important international relationship as we continue to see growth through expanding our geographic reach, particularly in Asia.

"Our work in BMD helps clinicians to detect and treat Osteoporosis earlier and is further validation of our technology and its capabilities in improving the efficacy of medical scanning technologies. This latest success adds to the encouraging progress we have seen in the wider medical imaging space, as evidenced by our announcement in November 2013 of a $990,000 contract to supply components to the nuclear medicine market, alongside the up to $5.3 million development contract we received in the x-ray CT scanning space. We have multiple blue-chip customers in the medical imaging sector and are seeing excellent traction in the adoption of our components. We look forward to announcing further progress in due course."

-ends-

Trading Statement

RNS


RNS Number : 3994D

Kromek Group PLC

28 March 2014




28 March 2014

Kromek Group plc

("Kromek" or "the Company")

Trading Statement

Kromek, a supplier of patented radiation detection technologies to the medical, security and nuclear markets, provides the following update on trading ahead of its year end on 30 April 2014.

Despite strong revenue growth year-on-year, the Company expects revenue for the period to be significantly below current market expectations. The shortfall for the year is due to a delay in a number of large contracts. Specifically, these include UK and US Government programmes, orders from the Japanese market for nuclear detection products and further large orders in the medical and security markets.

Furthermore it has taken longer than expected to set up distribution channels for nuclear radiation products, which are now in place in many of our important markets, and more work is ongoing to widen the channels through the expansion of our commercial teams.

These combined factors will also impact the performance of the Company in the next financial year but the Board believes the medium term fundamentals remain strong, with the technology addressing broader markets. The pipeline includes substantial new orders that we hope to announce in the near future, which could materially impact our growth expectations going forward.

Whilst the Company had anticipated breaking even in the current financial year, it does not now expect to be profitable, however cash balances at the year-end continue to be strong and the Directors believe that the business has sufficient capital required to execute the business plan and deliver growth in the years ahead.

Importantly, during the last half of the year the Company has also achieved some significant efficiency improvements to its manufacturing processes, which would allow a much broader acceptance of its products in mainstream medical diagnostic markets and lower its capital investment requirements. Based on the improved manufacturing processes the Company is expanding production capability in the UK with the cost partly supported by the Regional Growth Fund.

Kromek continues to win contracts across its three target markets and has seen substantial growth in current order booking. In medical imaging, Kromek's $5.3m mutually exclusive contract for developing and supplying CZT based multispectral (colour) detectors for the CT market with one of the top four OEMs continues to progress well. During the year Kromek has also been awarded substantial contracts in the SPECT and the BMD markets.

Changes to EU legislation continue to present the Company with new opportunities within the security screening markets. The Kromek bottle scanners have now been widely adopted in the EU and continue to attract opportunities in the Asian and Middle Eastern markets.

Commenting on trading, Arnab Basu, Chief Executive of Kromek said: "I am disappointed that we will not meet market expectations but I am confident that we will harvest real value from our technology going forward. The build up of our sales and marketing resources since the IPO has been slower than expected which has also been a contributory factor in the shortfall. We have executed important commercial deals during the year and achieved significant technical developments which will lead to a much wider adoption of our products in our target markets. The demand, both for using our technology as a component and for our products remains strong and I am confident that we will continue to add substantially to our order book in the months ahead and realise value for our shareholders in the years that follow."

Kromek Chairman, Richard Morgan, added, "The management team have demonstrated their ability to rapidly grow the business and yet I know they are disappointed that growth will be slower than they had forecast. The Board is confident in the medium term prospects for Kromek and the recent advances in our technology development only add to the already substantial market opportunities to create a technology leader and a profitable and valuable business."

-Ends-

Not looking too good.

Recovery today up 10%.

New Contract Signed in Medical Imaging Market

RNS


RNS Number : 0335E

Kromek Group PLC

04 April 2014






Embargoed until: 0700hrs, 4 April 2014

Kromek Group plc

("Kromek" or "the Company")



New Contract Signed in Medical Imaging Market

for Supply of CZT Detection Modules



Kromek, a supplier of patented radiation detection technologies to the medical, security and nuclear markets, is pleased to announce that it has signed a long term contract with an established SME manufacturer of x-ray diagnostics and analysis equipment in China.

The contract grants the manufacturer preferential rights for the supply of Kromek's innovative CZT-based detection modules in China and Chinese territories. These rights are for an existing medical diagnostic application with a large market potential and the exclusive supply agreement is conditional upon minimum annual revenues to Kromek. Kromek retains full rights to the product in all other territories.

Kromek has been working with the manufacturer for the past nine months to agree the suitability and detailed structure of a long-term supply agreement. For continued exclusivity the contract provides for revenues of $1.4m and $10.2m in the Financial Years 2014-15 and 2015-16 respectively and the overall value of the contract over the next seven years is up to $159m, subject to the customer meeting its contractual revenue targets. Advanced cash payments totalling $260,000 are expected from the customer in the current Financial Year, part of which has already been received. The first supply commences in October 2014.

Commenting on the announcement, Arnab Basu, CEO of Kromek, said: "We are pleased to announce significant, further traction in the medical imaging space, particularly in a large, high growth market such as China. The signing of this contract represents further endorsement of our offering and highlights the role we can play as global medical imaging capability advances, with Kromek's technology at its heart as a key enabler."

"Kromek will continue to explore the opportunities for our technology platform in the medical imaging, nuclear detection and security screening markets and we look forward to updating shareholders as to progress in due course."



-ends-

Up another 15% this am.

Up nearly 30% now on the big contract win in China.

LISTEN: Kromek (KMK) - New contract signed in medical imaging market

Click here to listen
http://www.brrmedia.co.uk/event/122858/dr-arnab-basu-ceo

Down over 10%


Director/PDMR Shareholding

RNS


RNS Number : 2618E

Kromek Group PLC

07 April 2014






For immediate release: 7 April 2014

Kromek Group plc ("Kromek" or "the Company")

Director / PDMR shareholding

The Company was informed today that Richard Morgan, Chairman of the Company, purchased 40,000 Ordinary Shares ("Shares") of 1p each at an average of 50p per share on 07 April 2014, representing 0.04 per cent of the Company's total issued share capital.

Mr Morgan's total holding in the Company is now 372,310 Shares of 1p each, representing 0.35 per cent of the Company's total issued share capital.

Mr Morgan is also interested in Amphion Innovations plc through his Directorship in Amphion Innovations plc which holds 12,450,420 ordinary shares in Kromek being 11.6 per cent of the Company's total issued share capital.

-ends-

Contract Wins

RNS


RNS Number : 2070K

Kromek Group PLC

23 June 2014






Embargoed until: 0700hrs, 23 June 2014



Kromek Group plc



Contract Wins



Nuclear detection and Breast Cancer imaging technology



("Kromek" or "the Company")



Kromek, a supplier of patented radiation detection technologies to the medical, security and nuclear markets, is pleased to announce that it has signed a number of further contracts, in the Nuclear Detection and Medical markets.



Nuclear Detection



Kromek has been awarded a contract with the US Defense Threat Reduction Agency ("DTRA") for the design, manufacture and optimisation of high sensitivity, next generation, solid state detectors for the homeland security radiation detection market. The contract is worth $1.45 million to Kromek over the next two years and will commence in July 2014.



Commenting on the contract win, Arnab Basu, CEO of Kromek, said "Kromek is delighted to receive this award, which follows on from previous and current successful US Government programmes, and continues Kromek's strategy in leading the field in detector technology and material identification. With other potential future applications of this new technology in security, medical and civil nuclear radiation detection we believe that this programme can further cement Kromek's detector technology platforms into global growing markets".



Additionally contracts, amounting to over $950,000 to supply innovative nuclear detection products to customers in the US and around the world, have recently been signed across a broad range of clients. These contracts are in the process of being fulfilled with revenues due to Kromek now and falling in the financial year ended 2015.



Medical Imaging



Kromek has been granted contracts worth £150,000 due over of the next 12 months from the Technology Strategy Board, the UK Government's innovation agency. These are to develop an enhanced detection system for breast imaging in conjunction with the UK's Centre for Process Innovation. The project proposes to develop conformal detectors based on plastic electronic solution which can be wrapped around or inside regions of interest (e.g. breasts, limbs, suspicious packages, parts for inspection) and that the production methods will be cost competitive vs existing silicon technologies. Work on this project has already begun.



Arnab Basu added: "We continue to win new customers in our key markets, highlighting the strength of our technology and the growing adoption of the new capabilities we can offer to partners and customers across the world. We look forward to updating shareholders as to further progress from our strong pipeline in due course."



-ends-

Contract Win

RNS


RNS Number : 1000O

Kromek Group PLC

04 August 2014






Embargoed until: 07.00, 4 August 2014





Kromek Group plc

("Kromek" or "the Company")





Kromek Awarded Network Detector Development Programme by the US Defence Advanced Research Projects Agency





Kromek (AIM: KMK.L), a supplier of patented radiation detection technologies to the medical, security and nuclear markets, is pleased to announce that it has been awarded up to $1.23m for a 12-month programme with the U.S. Defense Advanced Research Projects Agency (DARPA) commencing immediately. This is to develop an advanced portable detection system for gamma and neutron radiation that can be combined in large networks, providing information on radiation signatures over an extended area. The programme is geared towards procurement in Year 2 and beyond. DARPA is an agency of the United States Department of Defense and responsible for maintaining the technological superiority of the U.S. military.



This contract, along with many others in the nuclear detection market, represents further healthy conversion of the pipeline into orders and the majority of the revenue of the contract is expected to be recognised in the current financial year.

These latest successes are rooted both in Kromek's world leading capabilities in high performance radiation detectors, which are compact and uniquely require no cooling mechanism, and also in its overall "semiconductor to solutions" business model. This allows the Company to quickly respond to emerging customer needs by understanding and integrating all the closely interlocking elements required for an end customer application. These elements often include the detector design, different system configurations and software components, to allow improved interpretation and presentation of data in an easy-to-use and efficient form. Over the last few years the Company has introduced a number of products into the nuclear detection market, each providing unique performance, field usability and reduced size, including the world's smallest, high resolution gamma ray spectrometer operating at room temperature. This is used for a wide range of applications such as nuclear decommissioning, environmental monitoring and remote sensing on board ground-based robotics and Unmanned Aerial Vehicles.

Commenting on the award, Kromek CEO Dr Arnab Basu said, "Kromek is delighted to receive this award from DARPA, which closely follows recent awards from other areas of the U.S. Government and is further recognition of the advances Kromek's detector technology platforms are making into growing global markets."



-ends-

Final Results




Operational Highlights:



§ Successful IPO providing access to wider shareholder base and platform for future growth

§ Completed successful operational integration of eV Products Inc., our second US acquisition

§ Further improvements in CZT material and detector manufacturing processes

§ 28 new patents were filed or awarded

§ Investment in expanded sales and marketing capability

§ Multiple new and significant contract wins in the medical imaging market, for CT, including a development contract with a top four OEM; in BMD; and also an agreement for the supply of imaging modules in China

§ A number of important contracts from both commercial and government customers won in the nuclear detection market

§ The start of phase 1 of the implementation of the EU regulatory framework on 31 January 2014 which is the key to sales of the Bottle Scanner product in Europe



http://www.moneyam.com/action/news/showArticle?id=4875261

UPDATE - Kromek sees greater demand

By Jamie Ashcroft

August 28 2014, 2:36pm
Kormek won significant contracts in the medical imaging market
Kormek won significant contracts in the medical imaging market


--Adds broker comment--

Kromek (LON:KMK) revealed it is seeing greater demand for its products.

The technology firm in today’s results, for the twelve months to April 30, highlighted multiple significant contract wins in the medical imaging market and agreements to supply imaging modules to China.

It also agreed contracts with both commercial and government customers for nuclear detection.

"The appetite for Kromek's components, systems and solutions in each of our target markets is increasing,” said chief executive Arnab Basu.

“The group is well placed, not only to continue to win new contracts, but also to service the growing demand for our technologies and achieve our ambition of becoming the radiation detection specialists of choice in our chosen markets.

“We have reported a number of new contracts post this period end and we are continuing to convert a strong pipeline with the current order book at an all-time high."

Panmure Gordon analyst Dr Mike Mitchell said Kromek performed ‘in line’ as he upgraded his recommendation to ‘buy’ from ‘hold.

In a note the analyst said: “While a business such as Kromek will always be subject to some element of temporal risk (such as timing on government expenditure), we believe the broader commercial positioning and a greater emphasis on budgeting/planning stands the business in good stead.”

On AIM, Kromek shares moved 0.4p (0.8%) lower at 50.1p.

Interim Results
RNS
RNS Number : 0947C
Kromek Group PLC
14 January 2015



14 January 2015



Kromek Group plc

("Kromek" or the "Company")



Interim Results



Kromek (AIM: KMK), a radiation detection technology company focusing on the medical, security and nuclear markets, announces its interim results for the six months ended 31 October 2014.



Financial Highlights

· Revenue increased 33% to £3.2m (H1 2013/14: £2.4m)

· Adjusted EBITDA* improved to £1.6m loss (H1 2013/14: £2.0m loss)

· Loss before tax was £2.3m (H1 2013/14: £2.5m loss)

· Gross margin** was 70% (H1 2013/14: 61%)

· Loss per share was 1p (H1 2013/14: 9p loss)

· Cash and cash equivalents at 31 October 2014 were £2.86m (30 April 2014: £6.56m; 31 October 2013: £9.96m), with no debt and the Company expects to be EBITDA positive for the second half of the current financial year



*Adjusted EBITDA eliminates non-recurring other income, share-based payment expenses. See 'Financial Review' below for a reconciliation of adjusted EBITDA.

**As with prior periods, gross margin is calculated before labour and overhead recovery.



Operational Highlights

· Progress achieved across all of Kromek's target sectors of medical imaging, nuclear detection and security screening, with increased sales of the Company's product portfolio while developing products and enhancing customer engagements in medical CT, SPECT and portable networkable radiation detectors

· Revenue growth as a result of higher nuclear and security product sales and US Government contracts, and supplemented by contracts with OEMs in medical imaging and sale of bottle scanners

· Successfully progressed to second year of exclusive development programme in medical CT market with a top four global OEM

· Awarded significant new opportunity by US Defense Advanced Research Projects Agency ("DARPA") with project to develop advanced portable detection system for gamma and neutron radiation that can be combined in large networks

· Key contracts won in US and UK with US Defense Threat Reduction Agency ("DTRA") and Innovate UK

· Significant contract awarded for providing bottle scanner technology to a number of airports in Asia. Over 40 airports in 10 countries now using Kromek bottle scanners

· Doubled cadmium zinc telluride ("CZT") crystal manufacturing capacity by expanding in UK, and demonstrated ability to rapidly scale up production by successfully replicating the manufacturing process previously being conducted only in US

· 10 new patents were granted and 18 new patent applications were filed during the period



Post-Period Developments

· Awarded a number of significant contracts across the business:

o $1.0m contract extension by leading global security company for developing CZT-based detectors for medical and nuclear markets, including homeland security

o First contract from another global security technology group and market leader in security solutions

o Further contract by existing customer for OEM components for baggage screening

o First contract from a leading global healthcare and diagnostics company for development of bone mineral densitometry ("BMD") applications

o Additional $1.1m contract by DARPA, as announced today, for enhancing the continued development of advanced networkable radiation detectors

· Nine patents were granted post period



Dr Arnab Basu, CEO of Kromek, said: "We are pleased to report another half year of growth against the comparative period as a result of sustained progress in Kromek's product portfolio approach whilst advancing our strategy of becoming the preferred component supplier to major OEMs in CT and SPECT and in the supply of network sensors in nuclear markets. This has been achieved both by establishing new partnerships and strengthening our existing relationships.



"Looking ahead, investment in enhancing our sales and marketing function is resulting in increased interest in Kromek's products and technology from a greater number of companies and organisations. We continue to be subject to fluctuations in the timing of certain contracts and revenue recognition as well as the impact of seasonality, with the procurement cycle of many customers resulting in sales being weighted to the second half of the current financial year. Despite this, the Company remains confident that it can deliver in excess of 100% revenue growth from the first half to second half of the current financial year. Additionally, the Company expects to be EBITDA positive for the second half of this year."

MIDAS-SHARE-TIPS-Kromek-s-scanners-stop-make-bomb.

Up 10% today.

MEET THE TECH SUPERSTARS OF TOMORROW

A 12-month share price performance of the companies that presented at the Innovators & Investors Forum last year included:

Elecosoft +42%
Idox +22%
Instem +34%
KBC Advanced +45%
XL Media +41%

The Innovators & Investors Forum, organised in partnership with Cenkos Securities and SHARES, is in its 4th year and is the UK's only technology investment show.

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Thousands of investors have attended our previous shows, attendees will also benefit from:

Learning from industry experts and influencers about the markets, the technology sector and individual companies
Find out from fund managers how they view the future in 2016
Meet the directors of up to 30 listed technology focused companies
Listen to our expert team of SHARES journalists

The event is supported with an extensive conference program
Keynote Speakers:

Daniel Coatsworth, Editor - Shares
Mark Dunne, Growth Companies Reporter - SHARES
Steven Frazer, Online Editor - SHARES
Russ Mould, Investment Director - AJ Bell
Richard Penny, Senior Fund Manager - Legal & General UK Alpha Trust
Simon Strong, Head of Research, Growth Companies - Cenkos Securities
Gervais Williams, MD - Miton Group

Further speakers to be announced soon.

Meet the teams and talk directly to CEOs and Directors from:


Advanced Oncotherapy
Abzena
Advanced Oncotherapy
ANGLE
Brady
CML Microsystems
Cyan
Eckoh
eg solutions
Flowgroup
Ilika
Instem
Kromek
Lombard Risk
Mirada
Plastics Capital
Quantum Pharma
Rosslyn Data Technologies
Selftrade
SHARES
TyraTech

Further companies to be announced soon.




Date: 2nd February 2016

Venue: Business Design Centre, London


Event timings

Registration: from 09:00
Conference: 09:45 - 17:00
Exhibition: 09:00 - 18:00



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Strong buying all week.

Oh dear, Needs more contract wins.