Andor Technology has announced pre-tax profits of £1.35m sterling for the year ended September 30, an increase of 2.7% over last year.
Revenues at the company, which produces high performance digital cameras, were up over 10% to £21.3m. Operating profits were up marginally to €1.42m.
The company is listed on the Dublin IEX market and is a Queen's University campus spin-off company. It employs over 180 people around the world selling to customers in 44 countries.
Andor said the further depreciation of the US dollar and Japanese yen against sterling has had a material impact on its results. It said that at constant currency, sales would have been £1m higher.
Europe has overtaken the US as its largest geographical market with sales up by 31% to £9.9m. Sales to the Asia Pacific region increased by 8% to £4m and the US fell by 8% to £7.4m.
'For the tenth year in succession, Andor has achieved record turnover, up over 10% on the prior year,' commented Conor Walsh, Andor's CEO.
'Our focus is on accelerating organic growth, reducing cost and creating further competitive advantage by product innovation. On each of these fronts, we are making real progress and we remain confident about the long term prospects for the future,' he added.
