FeONIC looks to future with pioneering audio system

YORKSHIRE technology specialists FeONIC said it expected to break even this year following the launch of a revolutionary new sound system.

Announcing losses of £167,215 in the six months to January 2008, the company said it anticipated making good progress in the second half of the year following the launch of new sound system the F-Drive.

TheF-Drive is an invisible audio sound system which is capable of turning almost any surface into a high quality loud speaker.

It can be used to create anything from surround sound in home stereo systems to improving the audio quality of airport and train station announcements.

The company said it was anticipating strong sales within the transport and marine sectors when the device is officially launched next month.

FeOnic said turnover was down by more than half to £116,945 while research and development costs remained high at £121,552.

Chairman Brenda Hopkins said: “The board anticipates making good progress in the second half of the financial year when the new audio drives, the F-Series, start rolling off the production line in April 2008 with the anticipation that sales will exceed operating overhead for the first time for many years. The early release versions of these drives have been well received and we have received advance orders from Japan, Singapore, Brazil and the UK.”

She added that the company had enjoyed a reduction in operating loss thanks to a “continued control of expenditure”.

FeONIC was formed as a spin-off from Hull University in 1994.

The company – formerly Newlands Scientific – floated on OFEX in August 1999 raising just under £1m.

During its early years the company developed its first generation of audio devices which included the Soundbug – which can turn a number of surfaces into a loudspeaker when connected with to something like an MP3 player.

The company also developed the pioneering Whispering Window which uses glass panes as speakers.

It has been used by top retailers including Marks and Spencer and John Lewis to attract custom.