Toumaz small decline in full year revenue

Toumaz, which develops low cost, ultra-low power wireless technology, said Wednesday that its full year loss before interest, tax, depreciation and amortisation (BITDA) has risen on broadly flat revenues.

Toumaz, which develops low cost, ultra-low power wireless technology, said Wednesday that its full year loss before interest, tax, depreciation and amortisation (BITDA) has risen on broadly flat revenues.

The BITDA loss for the 12-month period will be in the region of £10.9m (2011: £6.1m), with an increase in costs resulting from higher investment in new chip development, one-off costs of acquiring Frontier Silicon and increased marketing spend to stimulate DAB demand in Germany.

Full year revenues came in at £22.3m, compared to £24.8m in 2011 (excluding non-recurring revenues in 2011). On a statutory basis revenues for 2012 will be in the region of £8.5m.

The company expects its cash levels at the end of the period to be no less than £15.2m.

Anthony Sethill, Chief Executive, said: "With our market leading position in wireless radio chips, our focus is now on investment in new chip development across our core business units, healthcare (including sport and fitness), digital radio and network audio.

"We continue to prove and roll-out our SensiumVitals healthcare monitoring system. This will be updated with the Sensium 2 integrated circuit which conforms to the latest industry standards for body area networks, as well as Bluetooth Smart.

"The digital radio business will also benefit from a new range of highly-integrated, lower-cost and multi standard chips combining Toumaz and Frontier technologies, and in network audio, a new Bluetooth connected audio module will address the growing demand in the wireless audio connectivity space.

"These research and development projects will strengthen and update our product range, ensuring we maintain our market position and are expected to bring significant revenue growth from 2015."

The share price fell 14% to 5.38p by 13:38.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Of course bitcoin is a bubble – a bubble you can’t ignore
Bitcoin

Of course bitcoin is a bubble – a bubble you can’t ignore

Bitcoin’s wild ride is being called a bubble by many. And it is, says Dominic Frisby. But that’s not necessarily a bad thing. And it’s a bubble in whi…
13 Jan 2021
A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
I wish I knew what a SPAC was, but I’m too embarrassed to ask
Too embarrassed to ask

I wish I knew what a SPAC was, but I’m too embarrassed to ask

A financial instrument called a “special purpose acquisition company”, or SPAC for short, is growing increasingly popular in the US stockmarkets. But …
12 Jan 2021