The Cambridge, U.K.-based ink jet printing technology group Xaar plc has announced record revenues and profits for year-end 2000.
Final revenues for this period were more than $33 million. According to the company, this figure represents a 50 percent increase over 1999 revenues of about $22 million. In addition, preliminary audited results indicated Xaar’s 2000 profits to be $3.9 million. Compared to 1999’s profits of $0.73 million, this figure marks a five-fold increase in profits.
According to the company, its 2000 performance underscores a busy and successful year due to a record number of orders and sales of major technology licenses. Xaar has stated publicly that much of its profits came from the manufacture of ink jet print heads, which contributed nearly 70 percent of group revenue.
Commenting on Xaar’s 2000 results, company chairman Arie Rosenfeld stated that Xaar has many of the key ingredients for long term growth and success, including proprietary technology, large addressable markets and a clear business strategy.