Shares of XAAR Plc, the tiny Cambridge, UK-based ink jet printing technology company crashed 22% to 77 pence yesterday on news that net losses for the six months to June 30 increased from 1.1m pounds to 2.1m pounds on revenues that declined 7.5% to 542,000 pounds. XAAR puts the blame firmly on the problems in the Far East, pointing out that seven of its nine existing licensees are Japanese. It does however claim to be involved in talks with potential customers and says it is encouraged by the prospects of securing further licensees during the second half of next year. It is also accusing CalComp Inc of patent infringements. But XAAR’s future rests on proving that, with its piezo ceramic wafer printing heads, inkjet can overcome speed disadvantages and offer real competition to the laser.
