ABOUT

Andor Technology PLC (Andor) is incorporated and headquartered in Belfast, Northern Ireland and operates at the high-value end of the global scientific digital camera market. It was setup in 1989 out of Queen's University in Belfast. Andor now employs over 300 people in 16 offices worldwide and distributes its products to 10,000 customers in 55 countries.

" Our mission is to become the global leader in pioneering and manufacturing high performance light measuring solutions "

As portrayed in our mission statement, the principal business of Andor is the development and manufacture of high performance digital cameras. Through continuous dialogue with our customers and strong teamwork we continue to innovate ground-breaking products that improve the world in which we live.

Financial Highlights

Revenue £'000
FY 2012 58,321
FY 2011 57,351
FY 2010 42,719
Adjusted profit before tax £'000
FY 2012 10,024
FY 2011 9,742
FY 2010 7,103

Conor Walsh
Chief Executive Officer

Conor WalshAppointed CEO in May 2007, Conor joined Andor in 2002 as Finance Director and Company Secretary. He was closely involved in the Company's listing on the AIM market of the London Stock Exchange in 2004 and in the acquisitions of Multichannel Instruments in 2002, Kinetic Imaging in 2004, Bitplane in 2009 and Photonic Instruments in 2010. Prior to joining Andor, he worked at PriceWaterhouseCoopers in the Corporate Finance division, and before that he held various senior finance positions in manufacturing companies in Northern Ireland. Conor has a BSc in Computer Science & Maths, is a Fellow of the Chartered Institute of Management Accountants and an IOD Chartered Director (CDir).

Colin Walsh
Non Executive Chairman

Colin WalshColin is Managing Director of Crescent Capital, a Belfast based venture fund and has worked in the venture industry providing funds for growth companies since 1989. He has been a director of Andor since 1997, led fundraising rounds for the company in 1997 and 2001 and was instrumental in Andor's flotation in 2004. Colin serves on the board of a number of public and private companies including Balcas Limited, NiSoft UK Limited and Fusion Antibodies Limited. Until recently Colin was Chairman of Trafficmaster plc, a UK listed information and telematics business which he was instrumental in floating in 1994. At Andor, Colin is Chairman of the remuneration committee.

Mary Duseau
Global Sales Director

Mary DuseauMary Duseau joined Andor as Global Director of Sales in October of 2012. Mary has 25 years of commercial experience in Life Science and has held sales and business management positions at PerkinElmer, Bio-Rad and Stratagene. Preceding Andor, Mary spent 13 years at PerkinElmer where she was Global VP Sales and Marketing for the Bio-discovery division delivering over $350m revenue from a team of 400 commercial employees. She graduated from the University of Massachusetts at Amherst, with a BS in Biochemistry.

William Parsons
Non Executive Director

Peter John SmithBill Parsons was until May 2013 Executive Vice President of Human Resources at ARM Holdings plc. Prior to this, he held Human Resources Directorships at Saga Group Limited, Hussmann (Europe) and Murex Biotech Limited. Bill is Chairman of The Cambridge Network, which promotes the UK and Europe’s leading technology cluster. He is a Fellow of the Institution of Engineering and Technology. At Andor, Bill is Chairman of the nomination committee.

Dr Donal Denvir
Technical Director

Donal DenvirDonal is one of the original founders of Andor and is chiefly responsible for setting the future technical direction of the company and new product developments. After a BSc in Maths & Physics and an MSc in Optoelectronics,he graduated with a Ph.D. in Laser Physics from Queen's University Belfast, then moved on to take a position as a lecturer in the department of Informatics & Computer Science at the University of Ulster.

William Rhodes
Non Executive Director

Susan VogtBill Rhodes was until January 2013 Senior Vice President, Corporate Strategy and Development at Becton, Dickinson and Co and previously, was Worldwide President of BD Biosciences, a $1.4B business unit that was comprised of Cell Analysis, Discovery Labware, and Advanced Bioprocessing. Bill has held a number of directorships and since 2007, has been a Director of San Jose State University Research Foundation. Bill is currently an Operating Partner at Linden Capital Partners and has also worked on a consulting basis for Third Day Advisors LLC since January 2013. At Andor, Bill is Chairman of the audit committee.

Alan Lilley
Finance Director

Alan LilleyAlan Lilley (ACMA, CGMA) joined Andor in October 2011. Alan has held board level positions across a number of sectors for over 25 years. He was Group Finance Director with Mivan Group, a specialist contracting company during a period where the business expanded internationally and grew to peak revenue of £80m. He then joined B.I.C. Systems and was an integral part of the team that sold this business to BT plc. He was appointed Head of Business Operations with BT (NI) which he held until 2006 when he became Finance Director with Macildowie Associates Ltd, a business that he and other investors acquired. Alan is a Chartered Management Accountant.

James Haynes
Non Executive Director

Susan VogtJim Haynes is currently President of Global Business at Oclaro plc, where he has worked since June 2003. Jim has previously held the positions of Chief Operating Officer of Oclaro from 2004 to 2010 as well as President of Oclaro’s Photonics Components Business from 2010 to 2011. Prior to this, he was Chief Operating Officer of Agility Communications and Director of Operations (Optical Components) and Technology (Optical Components) respectively for Nortel Networks. Jim has a bachelor’s degree (honors) in material sciences and technology from Swansea University.

Conor Walsh
Chief Executive Officer

Conor WalshAppointed CEO in May 2007, Conor joined Andor in 2002 as Finance Director and Company Secretary. He was closely involved in the Company's listing on the AIM market of the London Stock Exchange in 2004 and in the acquisitions of Multichannel Instruments in 2002, Kinetic Imaging in 2004, Bitplane in 2009 and Photonic Instruments in 2010. Prior to joining Andor, he worked at PriceWaterhouseCoopers in the Corporate Finance division, and before that he held various senior finance positions in manufacturing companies in Northern Ireland. Conor has a BSc in Computer Science & Maths, is a Fellow of the Chartered Institute of Management Accountants and an IOD Chartered Director (CDir).

Dr Donal Denvir
Technical Director

Donal DenvirDonal is one of the original founders of Andor and is chiefly responsible for setting the future technical direction of the company and new product developments. After a BSc in Maths & Physics and an MSc in Optoelectronics,he graduated with a Ph.D. in Laser Physics from Queen's University Belfast, then moved on to take a position as a lecturer in the department of Informatics & Computer Science at the University of Ulster.

Mary Duseau
Global Sales Director

Mary DuseauMary Duseau joined Andor as Global Director of Sales in October of 2012. Mary has 25 years of commercial experience in Life Science and has held sales and business management positions at PerkinElmer, Bio-Rad and Stratagene. Preceding Andor, Mary spent 13 years at PerkinElmer where she was Global VP Sales and Marketing for the Bio-discovery division delivering over $350m revenue from a team of 400 commercial employees. She graduated from the University of Massachusetts at Amherst, with a BS in Biochemistry.

Gary Wilmot
Director of Engineering

Gary WilmotGary joined Andor in 2007 and is responsible for all product development activities on a global scale. A Chartered Engineer, Gary graduated from Queen’s University Belfast and subsequently obtained an MSc in Electronic Systems from Cranfield Institute of Technology and an MBA from Warwick Business School. Gary started his career at Crosfield Electronics before taking senior positions with Nortel Networks and director level positions with Flextronics Design before moving to Andor.

Dr Andrew Dennis
Director of Product Management

Andrew DennisAndrew joined Andor originally in 1993 as project manager, then left to create his own company 'Avalon Instruments' that he went on selling to Perkin Elmer where he remained a few years to develop the IR and Raman business. He returned to Andor in late 2009 to spearhead the global Product Management & Marketing activities. He holds a BSc in Chemistry from Queen's University Belfast, where he also obtained his PhD in Vibrational Spectroscopy & Microscopy.

Dr Mark Browne
Director of Andor Microscopy Systems Division

Mark BrowneMark joined Andor in 2004 through the acquisition of Kinetic Imaging where he held the role of Managing Director. Mark is now responsible for the development of the confocal microscopy business at Andor. Prior to founding Kinetic Imaging, Mark held the role of Lecturer at UMIST and then became Professor at Lancaster University. A graduate from the University of Edinburgh, where he completed his PhD in Engineering Sciences.

Alan Lilley
Finance Director

Alan LilleyAlan Lilley (ACMA, CGMA) joined Andor in October 2011. Alan has held board level positions across a number of sectors for over 25 years. He was Group Finance Director with Mivan Group, a specialist contracting company during a period where the business expanded internationally and grew to peak revenue of £80m. He then joined B.I.C. Systems and was an integral part of the team that sold this business to BT plc. He was appointed Head of Business Operations with BT (NI) which he held until 2006 when he became Finance Director with Macildowie Associates Ltd, a business that he and other investors acquired. Alan is a Chartered Management Accountant.

Dennis O'Hara
Director of Operations

Dennis O'HaraDennis joined Andor in 2005 where he is responsible for all Operations activities (Supply Chain, Production, Global Customer Service & Support and Logistics). He holds a degree in Operational Management from the University of Ulster and a Master of Science degree from Napier University in Edinburgh. He previously held senior roles in manufacturing and production management at many large high-tech OEM companies.

Sinead Symington
Director of Human Resources

Sinead SymingtonSinead joined Andor in 1999 and has overseen the global human resources activities (recruitment, selection, employees relations, learning & development, reward & recognition) while the company grew from 49 to over 300 employees. Before undertaking a graduate management programme, she obtained her BSc in Applied Psychology from the University of Ulster and is a Member of the Chartered Institute of Personnel & Development.

FINANCIAL CALENDAR 2013

26 February
AGM
03 April
Trading update
24 June Interim results announcement
02 October Trading update
02 December Full year results announcement

 


THE BOARD OF DIRECTORS

The board consists of four executive directors and three non-executive directors. The non-executive directors include the non-executive Chairman and the senior independent director. With the exception of the non-executive Chairman, the board considers the non-executive directors to be independent. The non-executive directors do not participate in any of the group’s pension arrangements or in any of the group’s bonus, profit-related pay or share option schemes.

BOARD RESPONSIBILITIES

The board is collectively responsible for promoting the success of the group, within a framework of prudent and effective controls that enable risk to be assessed and appropriately managed. It is responsible for setting and approving the strategy and key policies of the group and monitoring the progress towards achieving these objectives. The board aims to enhance shareholder value by providing entrepreneurial leadership for the group, whilst simultaneously ensuring the appropriate framework of checks and balances are in place.

COMMITTEES OF THE BOARD

The standing committees of the board include the remuneration, audit and nomination committees. The work of the remuneration, audit and nomination committees, including a summary of their terms of reference, is summarised in the Committees section of the site, found by clicking the link below.

Board Committee Information

  CLICK IMAGES FOR BIOGRAPHIES

ANNUAL RESULTS

Year ended 30 September 2012

Revenue £'000
FY 2012 58,321
FY 2011 57,351
FY 2010 42,719
Adjusted operating profit £'000
FY 2012 9,759
FY 2011 9,586
FY 2010 7,011
Adjusted profit before tax £'000
FY 2012 10,024
FY 2011 9,742
FY 2010 7,103
Adjusted earnings per share (pence)
FY 2012 27.50
FY 2011 24.18
FY 2010 19.55
Net cash £'000
FY 2012 17,119
FY 2011 12,675
FY 2010 7,066
Proposed Dividend Per Share
2p  (View Details)

FROM THE CEO

Conor Walsh, Chief Executive

"I am pleased to report a solid set of results from Andor. Despite the uncertain economic environment, we have worked hard to achieve growth in revenue and profit. We have invested in both product development and manufacturing capacity and our products remain clear market leaders in their respective fields. I consider our outlook to be positive and I remain confident in Andor’s ability to deliver in the year ahead."

Operational highlights include:

  • Delivered 32% sales growth in our Asia Pacific region offsetting weakness elsewhere
  • $3.2m of previously deferred OEM orders now received
  • Capacity for future growth secure following upgrade to Belfast production facility
  • Increasing our market share in mid-range cameras with the successful launch of Zyla
  • Strengthening of our leadership team with the appointment of a Global Sales Director and Finance Director to the Board
Key Advisors

AUDIT COMMITTEE

The members of the audit committee are William Rhodes (chairman) and Colin Walsh. The audit committee is responsible for reviewing the integrity of the Company's financial statements and for reviewing significant financial issues and judgments contained therein. The committee reviews the accounting principles, policies and practices adopted in the preparation of the interim and annual accounts and discusses with the Company's external auditors the planned scope and results of their audit of the Company's annual financial statements. It also reviews the cost effectiveness, independence and objectivity of the external auditors. The external auditors have direct access to the committee and its chairman at all times.

NOMINATION COMMITTEE

The members of the nomination committee are William Parsons (chairman), Conor Walsh, Colin Walsh and James Haynes. The nomination committee is responsible for nominating and making recommendations to the board on new board appointments, succession planning and for reviewing the structure, size and composition of the board and making recommendations to the board with regards to any changes.

REMUNERATION COMMITTEE

The members of the remuneration committee are Colin Walsh (chairman), William Rhodes, William Parsons and James Haynes. The remuneration committee is responsible for the remuneration policy of the Company's executive directors having regards to companies of a similar size and scope. This covers the determination of contract terms, remuneration and other incentives for each of the executive directors, including performance related bonuses and share options.

PROPOSED DIVIDEND

For the year ending 30 September 2012, the Directors propose that an inaugural dividend is appropriate and as such a final dividend of 2.0p per share be paid.

Should this be approved at the 2013 AGM, payment will be made on 28 February 2013 to shareholders on the register as at 1 February 2013.

ANDOR TECHNOLOGY PLC - Constitutional Documents

ANDOR TECHNOLOGY PLC - Share Capital Information

  • In conformity with the Transparency Directive's Transitional Provisions, Andor Technology plc ("the Company") hereby notifies the market that the Company's issued capital comprises 32,018,895 ordinary shares of 2p each. All of these shares carry voting rights. The Company does not hold any shares in treasury. There are no restrictions on the transfer of shares.

  • As at 1 May 2013 the Company had been notified of the following shareholdings amounting to 3% or more of the ordinary share capital of the Company:

  • Shareholder
    Ordinary shares % of share capital
    CHASE NOMINEES LIMITED
    3,097,800
    9.67%
    VIDACOS NOMINEES LIMITED
    3,076,876
    9.61%
    FERLIM NOMINEES LIMITED
    1,722,306  
    5.38%
    HAREWOOD NOMINEES LIMITED
    1,709,714 
    5.34%
    NUTRACO NOMINEES LIMITED
    1,497,071 
    4.68%
    NUTRACO NOMINEES LIMITED
    1,199,385 
    3.75%
    DR DONAL JOSEPH DENVIR
    1,162,075 
    3.63%
    NORTRUST NOMINEES LIMITED
    1,156,253 
    3.61%
    TOTAL 14,621,480
    45.67%


  • In accordance with the AIM Rules (Rule 26), in so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 42.28%.

Nominated Advisors and Brokers
Investec - 2 Gresham Street, London. EC2V 7QP.

Solicitors
Addleshaw Goddard - 100 Barbirolli Square, Manchester. M2 3AB.

Auditors
PricewaterhouseCoopers LLP - Waterfront Plaza, 8 Laganbank Road, Belfast. BT1 3LR.

Bankers
Bank of Ireland - 31 University Road, Belfast.
Bank of America - 4 North Main Street, West Hartford, CT.
Bank of China - Wuluju Sub Branch, No 21 Second district Anzhen, Xili Beijing.
Mitsui Sumitomo Banking Corporation - 6-6 Koujimachi Chiyodaku, Tokyo 102-0083.

The following information is directly populated from the London Stock Exchange. There may be a slight delay in this service.

Share Price and Information for Andor Technology PLC (AND)


Constitutional Documents

RNS Postings for Andor Technology PLC (AND) - 12 months