Judges Scientific plc Reports Unaudited Preliminary Consolidated Earnings Results for the Year Ended December 31, 2016
March 21, 2017 at 03:00 am EDT
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Judges Scientific plc reported unaudited preliminary consolidated earnings results for the year ended December 31, 2016. For the year, the company’s revenue was £57,285,000 compared to £56,203,000 in the same period last year. Operating profit was £991,000 compared to £1,807,000 in the same period last year. Profit before tax was £417,000 compared to £1,252,000 in the same period last year. Adjusted operating profit was £7,144,000 compared to £9,250,000 in the same period last year. Profit for the year attributable to equity holders of the parent company was £81,000 compared to £775,000 in the same period last year. Profit for the year was £741,000 compared to £1,114,000 in the same period last year. Basic and diluted loss per share was 1.3 pence compared to 12.6 pence diluted per share a year ago. Net cash from operating activities was £4,611,000 compared to £6,577,000 in the same period last year. Purchase of property plant and equipment was £835,000 compared to £530,000 in the same period last year. Capital expenditure was £835,000 compared to £530,000 in the same period last year. Adjusted net debt as at December 31, 2016, excluding subordinated debt owed to non-controlling shareholders and including sums still due in respect of an acquisition, amounted to £9.9 million against £4.0 million a year ago. Adjusted basic earnings per share was 84.8 pence against 109.2 pence a year ago. The decrease in adjusted operating profits of 22.8% reflects the weak performance at three of businesses, which more than offset the benefit from its new acquisitions and the good performance at five of other businesses.
Judges Scientific plc is a United Kingdom-based company, which is focused on acquiring and developing companies within the scientific instrument sector. The Company's principal activities comprise the design, manufacture and sale of scientific instruments. Its subsidiaries are grouped into two segments: Materials Sciences and Vacuum. Its subsidiaries are primarily United Kingdom-based with products sold around the world to a diverse range of markets, including higher education institutions, the scientific communities, manufacturers, and regulatory authorities. The Company also specializes in the design and manufacture of instruments used for plasma surface treatment and provides plasma deposition services based on the instruments. Its subsidiaries include Armfield Limited, CoolLED Limited, Deben UK Limited, Dia-Stron Limited, EWB Solutions Limited, Korvus Technology Limited, Oxford Cryosystems Limited, PE.fiberoptics Limited, Quorum Technologies Limited and Scientifica Limited.