EMPLOYEES AT one of the North’s leading high-tech companies are celebrating an early Christmas present after they each received a bonus of two months’ salary on the back of a record year for the business.
The latest financial results show Andor Technology enjoyed one of the best financial performances of its 21-year history in the 12 months to September of this year.
Its decision to share its success with every member of staff represented a £1 million (€1.2 million) bonus pool for its workforce.
The west Belfast company, which manufactures high-performance scientific digital cameras, defied the global economic downturn to increase its adjusted pretax profits by 50 per cent to a high of £7.1 million in the period.
It also boosted its turnover by 29 per cent to £42.7 million in the year to the end of September.
Andor chief executive Conor Walsh said 2010 had been an exceptional year for the company which had not only increased sales and profitability but also completed two significant acquisitions in the same 12-month timeframe.
Last December Andor acquired Swiss-based Bitplane, which develops 3D and 4D image analysis software for the medical and life science sector.
It followed this up in April with the acquisition in the United States of Photonic Instruments and Imaginative Optics.
Mr Walsh said the acquisitions had helped to strengthen the company’s performance.
“When we factor in the contributions from our acquired businesses, total revenue for the financial year increased 29 per cent to £42.7million.
“This means we enter the new financial year with a record order book of £13.4 million, up 52 per cent on the same time last year,” Mr Walsh said.
He said the company, which began life as a spin-out from Queen’s University, had been completely unaffected by the economic uncertainties which have paralysed other firms in the North.
Mr Walsh said one of the reasons for Andor’s growth in 2010 had been its decision to target sales in countries where governments were committed to funding research and development projects.
