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Stilo International
- BY: Andrew Hore |
- POSTED: 30/03/2012 |
Content management software supplier Stilo International reported lower revenues in 2011 but sales of Stilo’s own OmniMark software were higher.
Revenues had been flat in the first half and the decline came in the second half which was loss-making. There was a decline in SAP-related revenues from the defence sector during the year and overall revenues fell from £2.38m to £1.74m. OmniMark sales grew from £1.14m to £1.4m and this helped to improve gross margins. However, gross profit was still lower and even though operating expenses were cut by 17% to £1.51m pre-amortisation profit fell from £183,000 to £75,000. R&D tax
Product development spending rose from £337,000 to £377,000 and all of this is written off as incurred. R&D tax credits from this spending helped the tax credit to increase from £33,000 to £103,000.
Stilo Migrate, the XML cloud content conversion service, has already won orders this year. The product is being deployed globally by Cisco Systems.
At 3.5p a share, Stilo is valued at £3.84m. There was £939,000 in the bank at the end of 2011.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2012_30.pdf
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