Roy Davis said he remained positive about the future prospects for the listed business.

The Dunfermline company failed to hit market expectations with revenue slipping 15% from $86.2 million (£56m) to $73m (£48m) and profit before tax and exceptional items down almost 90% from $6.9m to $0.7m.

Difficulties in European markets coupled with software problems around the launch of the Daytona device were among the factors blamed for the performance in the six months to March 2013.