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DDD Group

  • BY: Andrew Hore |
  • POSTED: 20/02/2014 |

3D technology developer DDD Group will report a sharp downturn in revenues for 2013 because of a slump in chip sales for PCs.

Full year revenues will decline from $8.6m to $3.4m. Interim revenues dipped from $4.03m to $2.36m so second half revenues were around $1m. Edison had expected full year revenues of $5m following the release of the interims. Sales of chips for tablets started during the second half, while sales to the TV sector were flat. DDD will continue to lose money in the second half and report a swing from profit to loss for the full year.

The Yabazam! 3D movie streaming service is growing and more than 120 3D films are available either via subscription or pay per view.

DDD believes that gesture sensing technologies could help to boost demand for 3D.

Net cash has fallen from $3.6m to $2.7m by the end of 2013.

Bob Morton has built up a 4.35% stake in DDD. In November, Dr Sanji Arisawa acquired 100,000 shares at an average price of 6.57p.

At 5.13p a share, down 0.5p, DDD is valued at £7m.

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