|
Cyan stays in-line through restructuring |
|
Written by Sam Fountain
|
|
Thursday, 24 January 2008 |
|
Fabless semiconductor company, Cyan has released a trading update, saying that it has met all target restructuring activities outlined at the time of its fundraising in July 2007, and that trading during the period since September has remained in line with the directors' expectations.
The Cambridge-based company said that since its fundraising in September it had developed a completely new European sales team, created an experienced operations team, expanded its marketing team, made significant investment in expanding the software development team and restructured its board.
The company said that it now has a new market positioning focused on end applications not just MCUs for Western markets, and a new entry level product which was released for new designs in Asia markets earlier this month.
It added that it had completed the first phase of its turnaround plan and is entering 2008 having already started on the second phase, in which the company expects to announce new product launches and to see early stage sales for products already released to the market.
Shares in the firm have jumped over five per cent on the news, growing 0.25p to 5p.
|
