The LED division was hit by a drop in shipments to the German solar panel production sector at the end of the year. Orders from this sector are not expected to recover until the second half of 2012. However, investment in new products and development of distribution in Asia will boost the 2012 figures. ProPhotonix is strengthening its US and European sales forces, although the full benefits of these investments will not show through until later in the year and into 2013.
The company had $4.1 million in the bank at the end of 2011.
The full year figures will be reported on 1 March.
Market: AIM
Symbol: PPIX/PPIR
Price: 8.25p
12-month high/low 20p/8.25p
Market cap: £ 4.34 million
