ProPhotonix revenues unlikely to rise in 'inconsistent' 2019

ProPhotonix's shares crashed on Friday after it warned that full-year revenues are not expected to exceed the $16.4m achieved in 2018.

The AIM-traded manufacturer of LED illumination systems and laser diode modules said that trading has been inconsistent across its customer base due to product introduction delays and the current business climate.

Chief executive Tim Losik: "We continue to see an inconsistency in customer order behavior in 2019 - with customers both falling below and exceeding our budgeted projections. Second half revenue is still unclear and whilst the board considers it conservative, it is right to provide this guidance to the market given these current uncertainties."

Losik added that measures are underway to partially mitigate the effect of the revenue profile to shore up cash flow and said the board remains optimistic about the future of the business as it focuses on building OEM partnerships along with a comprehensive portfolio of products.

ProPhotonix's shares were down 26.67% at 2.75p at 1002 BST.