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Xaar makes no sales in 1998

Blames slow down in Japanese economy

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Cambridge-based printer and plotter manufacturer, Xaar, has failed to sell any new licences in 1998. Xaar licences its technology to printer manufacturers - most of which are Japanese companies. It usually sells around two such agreements per year, but failed to sell any in 1998, mostly due to the slow down in the Japanese economy, Xaar said in a statement issued on Monday 4 January. Xaar company secretary, Jonathan Lowe, said the statement was issued to keep investors in the picture. "Our stock was tipped by the Daily Mail over the weekend and started to rise this morning (Monday). Most of our investors will be aware that we haven’t made any sales but we wanted to be sure that everyone was in the know," he said. Lowe said that the lack of sales was a "short term financial problem" but that the medium to long term picture was still healthy. "We expect 99 to be better than 98, but it will still be hard work," Lowe said. Xaar has being pursuing legal action against printer manufacturer Calcomp, for alleged patent infringement. Calcomp has issued its own statement saying it will stop selling the range of CrystalJet printers at the heart of the row and that it may have to close it operations altogether. Calcomp’s major shareholder is Lockheed. Lockheed has said it will no longer want to keep funding Calcomp and will keep it afloat long enough to dispose of it. ®

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