29 September 2005
29 September 2005
OMG plc ('OMG' or 'the Group')
Pre-close trading update and major contract win
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 2005.
Trading in the second half of the year has improved significantly. In
particular, the US has staged a strong recovery helped by an unusually large
order from one of the leading studios in the film industry.
This recent order represents the largest single sale in OMG's history and will
generate revenues in excess of $3million. The majority of these revenues will be
recognised in the current financial year. The system supplied is based on OMG's
premium MX 40 camera which was launched last year.
As a result of the improvement in trading in the second half of the current
year, management anticipates closing the year with revenues ahead of the current
market expectations, with profitability either meeting or exceeding the current
Nick Bolton, Chief Executive commented:
'This recent order highlights OMG's leading position in the provision of high
performance large scale motion capture systems in the entertainment sector.
While this large order will be one of the highlights of the current financial
year, other areas such as biomechanical research and the addition of our video
based motion capture capability have generated significant interest during the
second half of the financial year'.
For further information please contact:
Nick Bolton, Chief Executive, firstname.lastname@example.org
Peter Wharton, Finance Director, email@example.com
Tel: 01865 261800
Tel: 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange