News blog
Somero Enterprises Inc
- BY: Andrew Hore |
- POSTED: 17/05/2011 |
Somero Enterprises Inc reported a 13% decrease in revenues to $21m in 2010 but the loss was much lower than the previous year.
US-based Somero supplies laser concrete screening equipment that is used to ensure that the concrete floors of warehouses and other buildings are flat.
Emerging markets revenues grew 71%, partly offsetting a decline in the more mature markets. The underlying loss fell from $2.86m to $2.4m. The reported 2009 loss of $16.6m included restructuring costs and a large goodwill write-off.
Net debt was $5.03m. The loan facility has been extended to July 2013.
Somero has already booked its largest ever sale and there are indications of recovery this year.
At 23p a share, Somero is valued at £13m.
Download the May 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFMay2011_20.pdf
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