Quixant profits hit jackpot with 98 per cent rise
Quixant in Cambridge, which supplies specialised computing platforms and monitors for gaming and slot machine applications, has hoisted group revenue by 38 per cent to $56.9 million in the six months to June 30.
Group pre-tax profit rocketed by 98 per cent to $8.7m as the company continued to thrive under CEO Nick Jarmany.
COO Jon Jayal (pictured above) credited elevated demand worldwide and said the AIM-quoted company continued to invest in its technology. It had three new patents granted for gaming technology innovations in the trading period in question.
Jayal said: “I am delighted to report on a strong performance in the first six months of the year. We announced on July 24 that trading had been stronger than expected with all parts of our business performing well.
“Our core gaming platforms revenue was particularly strong with higher than expected orders from some of our key customers. This very strong demand was, we believe, out of the ordinary and hence we do not currently expect it to continue at this level for the full year.
“Unlike previous years we therefore expect that the full year results will not be second half weighted, although we are clearly well placed to achieve market expectations for the full year. We therefore look forward to the remainder of the year and beyond with confidence.”
Quixant, founded in 2005, designs and manufactures highly optimised computing solutions and monitors principally for the global gaming industry. The company is headquartered in Cambridge in the UK where the global sales function is based.
North America sales and sales support is run from a subsidiary in Las Vegas. Quixant has its own manufacturing and engineering operation based in Taiwan and software engineering and customer support team based in Italy.