Companies: AGT    ARC    AVV    ECK    KBC    ULT   

These days the FTSE techMARK 100 – which excludes the largest ventures and focuses on medium- and smaller-sized plays at the fastest growing end of the market – is showing tech-savvy investors some vital signs. It currently stands at 666.56, against 2003 highs and lows of 682.09 and 558.28, and up from 607.94 last month. Although technology companies in the main are trying to keep their heads above water, a select few have enjoyed strong share price runs and cheered the market with bullish news.

Diagnostics dinosaur in prostate deal

Medical diagnostics giant Amersham was marked up 1.75p to 432.5p on news it is merging Amersham Health's brachytherapy business with the urology arm of Galil Medical, a cryotherapy innovator. Analysts say the new company, to be three quarters owned by Amersham, will be a major player in the treatment of prostate cancer and will allow Amersham Health to home in on its core medical diagnostics business. For the uninitiated, brachytherapy is a treatment for the cancer in its earlier stages. Amersham, which turned over £1.62 billion last year and lifted pre-tax profits from £279 million to £300 million, has eased off to 432p since the news, though remains capitalised at a monstrous £3,042 million.

Keep ear tuned for Eckoh

Investors should watch out on May 29, when Eckoh Technologies posts March-end preliminaries. Recommended in Company Watch last October at 6.5p, it trades at 11.75p per share and recently generated a first pre-tax profit for the third quarter to December.

The shares have been as high as 16.75p since we tipped the company. Another enjoying a strong run this month was Ultrasis, which has developed drug-free computer-based solutions to tackle stress and chronic conditions. During three trading days, the shares surged up 223 per cent to 1p, still well off the 58p price in the halcyon days of 2000 – City commentators believe online pundits were behind the rally.

As ever, there were casualties among the tech ranks. Software sector sister Jasmin sank to a 52-week low of 107.5p on a profit warning caused by cost overruns on one of its rail contracts. Jasmin says full year pre-tax profits to March 2003 will be £350,000. Since it made £333,000 in the first half alone, the second half must have been disappointing indeed.

Cambridge-headquartered AVEVA, the firm involved in engineering data and design IT systems, surrendered almost five per cent to 330.5p on news second half trading has been uncertain with some customers deferring orders. Richard Longdon, chief executive, said December and January were quiet months, but there was a strong finish to the year to end-March and annual profits should fall within the range of market forecasts. Catch the numbers on May 20.

Semiconductor and software technology licensing play ARC International warned the SARS outbreak might hinder its Asian expansion possibilities as it reported lower first quarter losses to March in the depressed semiconductor market. Its shares were static at 26.5p. Directors explained that if the company is unable to travel to the region, it would be harder to negotiate and compete deals with Asian partners – this area is its fastest growing market. Pre-tax losses narrowed from £5.38 million to £4.64 million on sales of £2.9 million, which were down ten per cent 'sequentially' on the fourth quarter of 2002.

Arc, which stands for Argonaut Risk Cores, is yet to make a profit since being spun out of Argonaut Games five years ago. Incidentally, directors Joss Ellis and John Crilly were granted 350,000 options and 285,000 options over shares exercisable at 10.5p this month. Chief operating officer Ellis now has 950,000 options in play, whilst finance man Crilly holds options over 885,000 shares.

Tumbling on trading statements

Others tumbled on troublesome trading statements. KBC Advanced Technologies, the process engineering group that provides consulting services to oil refinery operators and owners, spilled 13.8 per cent of its share value to 28p, against the 106p peak over 52-weeks, on news it is considering its strategic options. Chairman Philip Rogerson said the order book has fallen further in the first quarter of 2003 and 'no new work has been possible in the Middle East' and contract awards elsewhere have also been weak. KBC sees a loss in the first half, before exceptional charges, and full year operating profits will be flat on 2002. Last year, pre-tax profits fell 63 per cent to £1.8 million on a nine per cent wane in sales to £38.2 million.

Telecommunications outfit Project Telecom told investors it had lowered its full year growth targets and that continuing profits would merely match 2002, after a tough first quarter of 2003. Investors hung up on the virtual network operator's shares on the day, sending the price 40 per cent lower to 42p, down from a year's peak of 87.5p.