Datong: bargain country?
The designer and manufacturer of advanced high performance intelligence gathering equipment, which was previously embroiled in a patent infringement claim relating to a 3rd party product for which DATONG acted as a reseller, announced its interim results for the six months ended 30 September 2009. Thankfully the outlook appears a lot rosier!
Revenue increased 86% to £2.81m with the operating loss for the period £1.32m (2008: £1.67m). There was a record order intake in the period, up 234% to £4.91m and the confirmed order book was up to £2.32m at the period end (2008: £0.28m). Datong finished the half year with net cash of £1.7m (2008: £1.7m) Since the patent restrictions were lifted sales of Third Party products resumed. The group has secured significant contract wins in new markets since the year end with orders of £2.86m (2008: £2.06m) being received in October and November. Management commented that the market in Americas…