Last checked at 14 May 2012 07:00
RNS REACH
14 May 2012
Lo-Q plc
("Lo-Q" or the "Company")
Q-band Water Park Progress
- Lo-Q launches Q-band operations at two water park sites in the US -
- Successful opening weekend performances at both sites, with nine remaining water park launches on track -
Lo-Q plc (AIM: LOQ), the AIM-listed provider of virtual queuing systems for theme parks, water parks and major attractions, is pleased to announce that Q-band - the Company's water park product - has delivered a successful opening performance at the first two US water parks to roll-out the technology this season.
The Q-band product was launched at the two sites over the first weekend of May, on schedule and to precise specifications by Lo-Q's delivery teams. Both roll-outs have attracted encouraging early user numbers - and positive user feedback - over their first weekend of operation.
Q-band is a revolutionary RFID-enabled wristband that is both waterproof and lightweight. Guests renting the Q-band use it to reserve a "virtual" place in line at a park's most popular slides, using kiosks located throughout the park. When their reservation time arrives, guests enter via a separate entrance and scan their band to be validated, allowing them more time to enjoy the park with less time waiting in line.
Over the past six months, Lo-Q has secured strong sales traction for Q-band with three park operators signing agreements to take the Q-band product. Lo-Q's delivery teams are on track to complete the nine remaining Q-band roll-outs, as planned, for the 2012 water park season.
Announcing the launches, Tom Burnet, Chief Executive Officer of Lo-Q plc said:
"I am delighted with the excellent visitor reaction to Q-band at our first two roll-outs of the year. Our teams have done a fantastic job to deliver this new technology quickly, effectively and in time for us and our customers to make the most of the new water park season. This is a really encouraging start to our Q-band operations, and we are now increasingly excited about the next nine roll-outs on the horizon: each of which remains on track to launch in the coming weeks."
For further information, please contact:
Lo-Q plc +44 (0)118 934 7400
Tom Burnet, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting +44 (0)20 7831 3113
Matt Dixon, Clare Thomas, James Melville-Ross
Canaccord|Genuity Limited +44 (0)20 7523 4630
Simon Bridges, Kit Stephenson
About Lo-Q
Lo-Q is the creator of a virtual queuing system for theme parks, water parks and other leisure attractions that allows users to queue without waiting in line. Lo-Q users reserve their place in a queue electronically and are notified when their turn is up, spending less time queuing and more time enjoying their day out.
Lo-Q's system has been adopted by leading theme park and attraction operators globally, with customers including Parques Reunidos, Six Flags, Dollywood and Merlin Entertainments. These operators benefit not only from happier customers but also from additional revenue streams as time previously spent queuing is instead transformed in to higher spending in park restaurants, gift shops and other retail facilities. By the end of 2011, more than eight million individuals had used a Lo-Q product and that number is growing.
The Company's technology is protected by extensive patents or patents pending in Europe, USA, Hong Kong and Japan. The target market for this technology is large and growing, with Lo-Q currently exploring opportunities for expansion into new theme parks and new geographies as well as opportunities to develop new product for other complementary adjacent markets.
Lo-Q is listed on the Alternative Investment Market ("AIM") under the ticker "LOQ". For further information please visit www.lo-q.com
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