BCO Technologies, the Northern Ireland IT company, has announced a reduction in the loss before tax from £4.46 million sterling to £3.75 million in 1999. Sales were virtually unchanged at £1.33 million. Shareholders' funds were reduced from £1.5 million to £1 million.

Trading conditions are far more buoyant this year. Sales in the first quarter rose by 76 per cent to more than £1 million. The company said it anticipates further "notable growth in the second quarter".

Orders on hand exceed $3 million. And BCO said it is seeing considerable interest in its silicom micromachining capability, particularly in the optical networking sector.

BCO announced last month that it was in discussions that may or may not lead to an offer being made for the company. Discussions are continuing.

The group has also announced it plans to seek addition equity funding later this year to fund continued growth in capacity and to meet working capital requirements.