NEXTEQ PLC

Regulatory Filings • Mar 18, 2020

National Storage Mechanism | Additional information

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RNS Number : 5365G

Quixant PLC

18 March 2020

18 March 2020

Quixant plc

("Quixant" or the "Group")

Notice of Results Update

Quixant (AIM: QXT), a leading provider of innovative, highly engineered technology products principally for the global gaming and broadcast industries, announces that the publication of the Group's full year results are subject to a short delay of a week. This is due to the time needed by the Group's auditor, KPMG LLP, to complete its work, together with enhanced internal regulatory scrutiny.   

The Board believes the accounts to be substantially complete.  As announced in its January trading update, the Board expects to report revenue for the year of $92.3m, adjusted profit before tax of $10.7m and net cash of over $16m. The Group remains profitable and cash generative with a strong balance sheet and a net cash position at 29 February 2020 of $18.5m.

KPMG have confirmed that they will complete their work so that the Board can release its full year audited results on 31 March 2020.

Naturally the Board is disappointed by the delay. However, it emphasises that this delay relates solely to the additional level of scrutiny required by the auditor's internal sign-off formalities. 

For further information please contact:

Quixant plc	Tel: +44 (0)1223 892 696
Jon Jayal, Chief Executive Officer Guy Millward, Chief Financial Officer
Nominated Adviser and Broker:
finnCap Ltd	Tel: +44(0)20 7220 0500
Matt Goode / Simon Hicks (Corporate Finance)
Alice Lane (Corporate Broking)
Financial PR:	Tel: +44 (0) 20 3405 0205
Alma PR
John Coles / Hilary Buchanan / Kieran Breheny

About Quixant

Quixant, founded in 2005, designs and manufactures highly optimised computing solutions and monitors principally for the global gaming industry. The Company is headquartered in Cambridge in the UK where the global sales function is based. North America sales and sales support is run from their subsidiary in Las Vegas. Quixant has its own manufacturing and engineering operation based in Taiwan and software engineering and customer support team based in Italy. All the specialised products software and manufacturing are produced in-house and Quixant owns all its own IP some of which is protected by patents and design rights.

In November 2015 Quixant acquired Densitron Technologies plc. Densitron has a strong heritage in the sale of electronic display solutions to global industrial markets. Through Densitron's experienced sales team, Quixant has a robust platform to build its business into wider industrial markets. In-depth information on the Company's products, markets, activities and history can be found on the corporate website at www.quixant.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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