Kromek secures $1.1m of repeat orders

Radiation detectors supplier Kromek has secured repeat orders for its CZT-based detectors from three medical imaging customers worth a combined total of $1.1m.

Kromek said on Wednesday that the orders, which were within its key target market of single photon emission computed tomography, were made up of a $300,000 award for detectors for niche SPECT applications, a $563,000 order from an OEM for niche SPECT applications, and a $205,000 order for niche medical imaging applications.

The AIM-listed group stated the two latter orders were both from long-term customers, with delivery due to commence during the current financial year and complete in the first half of 2024.

Chief executive Arnab Basu said: "Receiving these orders from long-term customers in the medical imaging market highlights the regular, repeat nature of business in the advanced imaging segment, which is a real strength for Kromek. They also reflect the importance of SPECT and the sustained demand for our solutions in this area.

"As the only commercial independent global supplier of CZT, we are continuing to receive heightened interest from OEMs in our advanced detectors for SPECT and CT applications. The growth in demand from both new and existing customers reinforces the board's continued confidence in our prospects in this market."

As of 0925 BST, Kromek shares were up 0.72% at 90.14p.

Reporting by Iain Gilbert at Sharecast.com