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Flomerics

  • BY: Andrew Hore |
  • POSTED: 27/03/2008 |

Flomerics believes that its 2008 revenues will be considerably better than those in 2007. 

The electronic simulation software developer is benefiting from its investment in sales and marketing. The 2007 results will be published on 29 April.

This statement was sparked by US-based software company Mentor Graphics buying a 25.7% stake in the company - this is after the dilution caused by a subsequent issue of shares by Flomerics.

According to Global Industry Analysts Inc the world electronic thermal management software market will continue to grow by 10% per year over the next five years. The company’s other markets are also expected to grow rapidly.

The shares rose 10p to 94p – that’s double what they were two months ago. It values Flomerics at £21.4m.

Flomerics has cash in the bank of £5m, against £2.7m at the end of 2007. This should be a relatively high point for cash anyway because customers in the fourth quarter should have paid by now.

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