OMG PLC
03 November 2004
OMG plc ('OMG' or 'the Group')
Trading Update
OMG, the leading supplier of motion capture and visual geometry systems for life
sciences, entertainment and engineering applications, today announced the
following trading update for the year ended 30 September 2004.
At the time of the interim results it was noted that the launch of the Vicon MX
system in June was expected to deliver additional revenues in the fourth
quarter. In the event, revenues for the second half and full year will be at
record levels. Excluding the acquisition of House of Moves, second half revenues
will be more than a third higher than both the first half year and the same
period of the previous year.
House of Moves, acquired in May, has performed in line with management
expectations and will contribute to profits for the year. For the Group
including House of Moves, second half revenues will be around 50% up on the
first half year and the same period of the previous year.
The sharp upturn in revenues in the fourth quarter resulted in profits for the
second half being significantly higher than the first half year. However, the
transition to the Vicon MX system, with initially higher costs of production and
global roll-out, meant that full year profits for the Group are expected to be
significantly lower than market expectations. Costs of production of Vicon MX
systems have already been reduced and are expected to continue to fall as
production volumes build up during 2005.
Julian Morris, Chief Executive commented:
'We have achieved a very successful launch of the new product line, invigorating
the market and bringing new application opportunities resulting from increased
accuracy and performance. In particular, the Entertainment sector has grown
strongly with a high level of media interest prior to this month's UK release of
'The Polar Express', a film in which Vicon full body motion capture allows actor
Tom Hanks to appear in several different roles'.
For further information please contact:
Julian Morris, Chief Executive, julian.morris@omg3d.com
Peter Wharton, Finance Director, peter.wharton@omg3d.com
Tel: 01865 261800
Tim Thompson / Tom Carroll
Buchanan Communications
Tel: 020 7466 5000
About OMG
OMG plc (LSE: OMG) trades through operating subsidiaries in the name of VICON
Motion Systems in the UK and USA and through a network of distributors in other
major countries. OMG subsidiary 2d3 Limited produces innovative visual geometry
software deriving 3D data from moving images. Since 1984, VICON has been
providing professionals with the latest tools to accurately capture the
subtleties of three-dimensional human motion for research, life science, sport,
engineering, game development, broadcast and film. Recently acquired House of
Moves provides motion capture services to leading games and film producers in
the USA from one of the worlds largest dedicated motion capture studios based in
the Hollywood area. For more information about OMG, or it subsidiaries, visit
www.omg3d.com www.vicon.com, www.2D3.com, or www.moves.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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