Psion announced plans to launch two new machines based on its next-generation 32-bit technology as it announced a 37% increase in turnover for the year ending 31 December 1996.
The company said at least one of the new machines will be a highly sophisticated pocket PC capable of wireless communications and designed to compete with machines based on Microsoft's Windows CE operating system.
According to Psion chairman David Potter, the company has spent over u30 million on its EPOC32 operating system, which will be sold later this summer.
The company saw year-end pre-tax profits rise to u16 million from u11.65 million in 1995. The figures included an exceptional charge of u1.52 million which covered the cost of the company's aborted takeover of Amstrad's PC business late last year.
Turnover increased by 37% to u124.2 million from u90.6 million in 1995 and earnings per share were 14.57p, up from 10.75p the previous year.
Potter commented: "1996 was another successful year for the Psion Group with strong growth in both the UK and export markets. In 1997, our major five-year investment in 32-bit technologies will begin to be realised commercially. This year we expect to launch our first products using our next-generation 32-bit EPOC32 operating system. We will also be launching new products in Psion Industrial and Psion Dacom, and Psion Software expects to obtain new licences."
Potter concluded that although competition is increasing, many opportunities still remain for Psion in its key markets. "We look forward to a year of transition and growth," he said.
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