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

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021
How you can profit from the power of the grey pound
Share tips

How you can profit from the power of the grey pound

Higher life expectancy and surging asset prices have proved a boon for the baby-boomer generation, which has accumulated vast wealth. Younger generati…
10 Sep 2021