smartFOCUS fell into loss in the first half of 2008.
Shares in the marketing and consumer relationship software company slumped 3.25p to 8.25p a share, valuing the company at £7.74m.
Revenues were flat at £5m which the management puts down to a change in strategy towards offering its products via a Software as a Service model. This means that revenues come in later than for a software licence sale. Recurring revenues grew from 41% to 46%.
A profit of £151,000 was turned into a loss of £649,000 in the six months to June 2008. A reduction in trade debtors meant that there was a small cash inflow from operations. There was cash of £1.1m at the end of June 2008.
The original profit forecast of £2.2m for 2008 looks highly unlikely to be achieved. There will be exceptional reorganisation costs in the second half.
The company’s finance director Neil Thomas bought 62,689 shares at 7.875p each. This comprises his total holding in smartFOCUS.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.