Sales hike sounds good for FeONIC
FEONIC, the innovative audio technology firm, believes there could be appetite for its products in Japan as the country recovers from last month’s earthquake.
The Hull-based company has developed technology that allows its audio products to turn virtually any surface or structure into a high quality loudspeaker with evenly distributed sound.
FeONIC has recently informally launched its Soundbug2 product, which is being billed as the world’s smallest bluetooth wireless stereo speaker system and its formal launch will take place next month.
FeONIC this morning reported sales up 312% year-on-year to £150,000 for the six months to January 31.
The company reported a loss on ordinary activities before tax of £151,000, a drop from £279,000 over the same period the previous year.
Its operating loss was reduced from £193,662 to £145,507.
Chairman Brenda Hopkins said: “The increase in sales produced financial benefits right down to the bottom line with almost a 50% reduction in losses.
“The increase in sales was due to the improvement in the take up of the F series products in the B2B audio markets both at home and abroad and in the transport sector of the Far East.
“Our Japanese partner is providing products to the hospitality market and there are indications that there will be more opportunities for the sale of our invisible audio products in the new builds that are going to be necessary as a result of the recent earthquake.”
FeONIC has a number of distibution partners across the world.
