Xaar cracks North America with its third-generation printhead

Xaar has revealed the identity of its first platform three customer as the inkjet technology firm announced a slight dip in sales and profits for 2006.

Canadian company PAT Technology Systems is to incorporate Xaar’s latest inkjet technology, the Xaar 1001 printhead, on two of its digital machines – the Varstar and the Rotoworx. The Varstar is a sheetfed digital UV coater able to apply gloss finishes in a single pass, while the Rotoworx is a webfed version.

Xaar chief executive Ian Dinwoodie (pictured) said he was pleased to have broken through into the North American market and that Cambridge-based Xaar was on the lookout for other development partners.

The 1001 product is the company’s third-generation printhead, which incorporates hybrid ‘side-shooter’ technology. The products are made at Xaar’s newly opened manufacturing plant in Huntingdon.

Meanwhile, Xaar posted slight falls in sales and pre-tax profit in its full-year preliminary results.

The group’s adjusted pre-tax profits were at £7.9m, compared to £10.5m in 2005. The preliminary results
also showed a dip in turnover from £42.8m last year to £42.2m.

The company said it had recovered strongly in the closing months of the year following a setback in the Chinese market. Trading was affected by an investigation into three of Xaar’s Chinese customers over non-payment of import duties.

Dinwoodie said: “The results are pretty good. We have had a strong recovery and there is a lot of research and development going on.”


XAAR'S 2006 RESULTS
Turnover £42.2m (2005: £42.8)
Adjusted pre-tax profit £7.9m (2005: £10.5m)
Reported profit before tax £6.9m (2005: £10m)
Basic earnings per share 7.9p (2005: 11.6p)