News blog
Stilo International
- BY: Andrew Hore |
- POSTED: 22/03/2009 |
Strong second half revenues helped Stilo International to return to profit in 2008.
The content management software supplier turned a loss of £62,000 into a profit of £333,000 in 2008. Even if exceptional charges in 2007 are ignored, then profits would still be nearly eight times the previous year. Revenues grew 27% to £3.09m. There was strong growth in the document management side of the business.
Research and development spending increased from £245,000 to £310,000. Capitalised investment in intangible assets fell from £106,000 to £93,000.
There is cash of £546,000 in the bank. There are past tax losses so there will not be any tax payments in the near future.
At 3.125p a share, Stilo is valued at £3.43m.
New releases of the JETView digital publishing software for airline maintenance and the OmniMark XML content processing software helped Stilo win new customers including ABX Air Inc, Agusta Westland, BAE and Schlumberger.
This year Stilo is introducing Stilo Migrate, a Software as a Service (SaaS) offer for conversion of digital content to XML.
More than half of the current revenues come from North America and Continental Europe. There is also a range of customer sectors which will help Stilo to cope with the tough economic conditions.
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