DDD generates maiden profit
Sep 24, 2012
Three-dimensional technology solutions firm DDD posted a 74 per cent spike in half year revenue, reported a maiden profit and is confident of meeting full year expectations.
Pre-tax profit came in at $663,000 for the six months ended June 30th 2012 compared to a $387,000 loss the year earlier. Revenue increased to $4m from $2.3m previously.
Chief Executive Chris Yewdall said: "We have continued to deliver strong turnover growth and generated a maiden profit after tax for the first half. This performance underscores the momentum of the 3D consumer market and we have maintained our market leading position across a range of 3D devices and extended license agreements with current customers."
"We are exploring new 3D business opportunities with the launch of the Yabazam! 3D movie app for the latest 3D Smart TVs from Samsung and LG," he added.
Net cash at June 30th fell to $2.5m from $3.3m the year before. Working capital balance improved slightly to $3.7m.
The group added that shipments of its TriDef 2D to 3D conversion solutions in the TV, PC and mobile markets have grown dramatically and together now exceed an estimated 20m units.
FREE - MoneyWeek's daily investment email
Our free daily email, Money Morning, is an informative and enjoyable analysis of what's going on in the markets. Written by our Editor, John Stepek, and guest contributors.
Sign up FREE to Money Morning here.