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Transense Technologies PLC - Bicester, England-based developer of specialist sensor systems for vehicles - Says its results for the year ended June 30 are in line with market expectations, noting strong royalty and sales revenue growth. Revenue is expected to increase by almost 50% to £2.6 million, in line with expectations. Adjusted earnings before interest, tax, depreciation, and amoritization also expected to be in line with expectations, though the company does not specify a figure. Underlying royalty revenue is expected to increase by more than 75% against the prior year. Explains that the momentum built up in royalty income now generates sufficient net income to ‘comfortably cover’ fixed overheads. ‘Optimistic’ about growth prospects despite gathering economic headwinds.
Final results for the year are expected around the end of September.
Current stock price: 65.25 pence, up 4.4% in London on Tuesday morning
12-month change: down 29%
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