News blog
i-design
- BY: Andrew Hore |
- POSTED: 05/12/2011 |
Cash machine advertising technology developer i-design has moved into profit and a Canadian deal means that it has started the current financial year strongly.
Revenues were 62% ahead at £3.52m in the year to September 2011. A loss of £962,000 was turned into a profit of £105,000. This turnaround was helped by the fact that software sales rose 87% to £987,000. The sustainability of profitability still demands on significant software sales this year. As other revenue streams grow i-design will become less dependent on one-off software sales. One-third of the software revenues are already maintenance and support based.
The majority of revenues come from advertising sales and this should continue to grow – Edison forecasts a 20% rise for this year.
The Canadian contract was won thanks to the new joono software. This is the first significant joono deal. No figure has been put on the deal which was won through IBM.
Edison forecasts a maintained profit for 2011-12 but additional software sales could lead to upgrades – just as they did for last year.
Net cash was £928,000 at the end of September 2011. This should provide enough cash for the company’s working capital requirements. A cash small outflow is forecast by Edison for this year.
At 62.5p a share, i-design is valued at £8.82m.
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