Perth, Jan 11, 2006 (ABN Newswire) - QRSciences (QRS: ASX) (QRSHY: PK), a developer of advanced sensing technologies today announced the company's half yearly revenue increased from $ 375,000 to approximately A$ 1,300,000 (up 247%) over the corresponding period last year.
"Our expectation is that there will be a continued upward trend in revenue growth in the short to mid term, reflecting a very interesting growth stock opportunity for investors." said QRSciences CEO, Mr. Kevin Russeth.
This year should be a banner year for the company as its two technologies begin selling in the market. Combined with strong growth from contract R&D and consulting, on top of the synergies that the company will realise from its investment in Spectrum San Diego and its distribution relationship with XTEK, it is well positioned for solid and continued growth.
"The number one priority to grow shareholder value in 2006 is revenue," added Mr. Russeth.
"Success for us this year will be measured in the culmination and delivery of a number of proposed sales, research contracts and licensing proposals that the company is currently progressing around the world." Mr. Russeth concluded.
QRSciences Holdings Limited is based in Perth, Western Australia with offices in San Diego, California. The company designs, develops and sells advanced technology systems, sub-systems, components and software for security related applications. Applications for its technologies include the detection of explosives and narcotics, metal detection and imaging, surveillance and monitoring, chemical manufacturing quality control and assurance, mineral and material assay, and lab instrumentation.
Contact
Jennifer Zimmons Strategic Growth New York, N.Y. Tel: +1(212)838-1444
