Small caps round-up: Nasstar, Seeing Machines, Oxford Advanced Surfaces

Nasstar, which describes itself as a cloud services provider, has announced that one of its partners, iomart Hosting, part of iomart Group, a managed hosting and cloud computing services company, has signed a 70+ user contract for hosted desktop services with an international recruitment consultancy. "Our expertise at hosting a wide and growing range of apps, including those from Bond International Software and other specialist software vendors, provides our partners with the ability to offer their customers a complete cloud service," said the firm's Chief Executive.

By MoneyWeek

published 26 September 2012

Seeing Machines, the maker of equipment that tracks the facial movements of drivers to make sure they are awake, posted a 9.2% in revenue to A$7.82m for the year ended June 30th but suffered a decrease in gross profit, from A$4.88m to A$4.32m, primarily as a result of a change in product mix and sales costs. The results were also affected by lower sales of the company's faceLAB and faceAPI products. The net loss for the year decreased from A$2.17m to A$0.44m. Cash at the year-end decreased to A$0.58m from A$1.65m a year earlier.

Oxford Advanced Surfaces Group, a technology developer targeting a number of global markets, reported "solid progress" in the half year ended June 30th as it approaches commercialisation. During the six month period, the firm generated revenue of £69,000, the majority of which was generated from fee paying commercial agreements and individual projects with a further, with the remaining £7,000 from grant funding. The loss before tax for the six month period was £0.81m (2011: £0.93m). Research and development costs decreased from £0.53m to £0.47m. Cash and equivalents at the period end totalled £0.48m compared to £0.98m a year earlier.