SPI Lasers has revealed that net cash fell to £4.1m by the end of June 2008.
That is down from £8.7m at the end of 2007. That rate of cash outflow indicates why SPI was keen to accept the 40p a share offer from the much larger TRUMPF.
The interim loss was slightly reduced from £5.52m to £4.82m, while revenues were down from £7.16m to £6.08m. There was £120,000 of capitalised development costs but general capital expenditure was pared back from £403,000 to £97,000.
The shares are trading at 39p.
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