Cash continues to be king at Emblaze, the Israeli technology firm which is suing Apple for alleged patent infringements.
The £54m valued company, which produces software for the fast growing mobile phone sector, finished 2011 with cash and short term investment assets of $149m, up from $145m at the end of 2010.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company said it also ploughing on with its legal proceeding against iPhone maker Apple, as it believes the US electronics titan has infringed Emblaze's livee streaming patent.
The group saw revenue in 2011 surge to $1.21m from $0.63m in 2010, and this fed through to profit from continued operations of $2.8m, compared to a loss the year before of $4.6m.
The share price rose 3p to 48p on the release of the figures.
jh
-
Would you delay retirement to help your children through university?Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoidA couple faces a substantial stamp duty bill after trying to reduce the amount they owed
