Feedback FY16 Loss Narrows; Shares Rise
19 Oktober 2016 - 10:33AM
Dow Jones News
By Philip Waller
LONDON--Shares in medical image processing group Feedback PLC
(FDBK.LN) rose 13% in early London trade Wednesday after the
company posted a sharply narrower fiscal 2016 pretax loss, and said
it is considering partnerships in China and elsewhere.
For the year ended May 31 the company made a pretax loss of
251,219 pounds ($308,502), compared with a loss of GBP1.2 million a
year earlier on revenue that climbed to GBP431,454, from
GBP381,970.
Shares at 0740 GMT are up 0.13 pence, or 6.6%, at 2 pence,
having peaked at 2.14 pence earlier in the session. However, shares
are currently down 27% over the past 12 months.
Revenue recognized from sales of research versions of its Texrad
product was higher than in the previous year, although there was an
expected reduction in new purchase orders, the company said.
However, Feedback said it received a high level of orders after
the year-end from cancer research institutions, which it said
should lead to substantially higher revenue in the second half of
the fiscal 2017 year and growth in revenue for the year as a
whole.
"We believe there will be opportunities to make further sales of
Texrad research versions in China by partnering with a company with
a strong local presence," Chairman Alastair Riddell said.
"We are also considering other business relationships which
could increase sales of Texrad research versions in other
territories."
Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
October 19, 2016 04:18 ET (08:18 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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