Concurrent Technologies PLC
19 April 2002
CONCURRENT TECHNOLOGIES PLC
AGM Statement
At today's Annual General Meeting (19th April 2002) Michael Collins, Chairman,
Concurrent Technologies Plc, which designs, produces and markets single board
computers known as Multibus II, CompactPCI(R) and VME, made the following
comments:
'2001 was a very difficult year for the sector. However, unlike many other
companies, the Company remained profitable due to it reducing its focus on
telecommunications. We supply a broad range of sectors and the increased sales
and marketing expenditure is beginning to pay dividends. We have continued to
broaden the spread of activity and the sales team is also now actively marketing
both the new products developed in Colchester and the ones added by the
acquisition of Omnibyte.
'The integration of Omnibyte is on schedule, the teams work well together, the
engineers report to Colchester and the product range is now being supported and
marketed by the Concurrent sales team. We expect Omnibyte to make a positive
contribution in the next financial year.
'We are currently on schedule to meet our targets for the year, although the
market remains tough. We have deliberately budgeted for only a small
contribution from telecommunications and continue to focus on supplying a range
of market areas. We have further extended the product range, the acquisition of
Omnibyte also introduces products incorporating Motorola(R) processors, and we
have been successful in increasing sales to the industrial, scientific and
defence sectors.
'We are well positioned to exploit the increasing number of opportunities that
are becoming available, our new products have been well received and the defence
sector in particular is buoyant at the moment.'
19 April 2002
ENQUIRIES:
Concurrent Technologies Plc Tel: 01206 752 626
Glen Fawcett, Managing Director
College Hill Tel: 020 7457 2020
Michael Padley
Nicholas Nelson
This information is provided by RNS
The company news service from the London Stock Exchange
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