IPTV technology developer ANT says that it is exploring its options, which include selling the business and liquidation.
No offer has been received as yet.
Revenues were 15% higher at £2.47m in the first half of 2012. Gross margins slumped because of a significant cost overrun and provision for a loss-making contract. Delivery of these contracts is being reviewed. There is no provision for any potential litigation losses. Operating costs were flat but the loss increased from
Unit shipments rose 8% to 1.84m in the first half of 2012 but there was only one licence signed in the period.
Cash in the bank edged up to £4.4m at the end of June 2012 despite the loss. Slower payment of creditors has helped.
At 17.5p a share, down 2.38p, ANT is valued at £4.25m.
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