News

posted on 06 June 2008 08:44

Business archive systems provider Plasmon announced reduced losses for its financial year ending March 31, 2008.

Revenues fell by 13 percent from £35.9 million in the previous financial year to £29.4 million. Pretax losses declined slightly faster, from £15.23 million to £13 million this year. What is happening is that sales of legacy UDO optical hardware products are falling as sales of newer enterprise archive solutions, built with UDO drives, hard disk drives and software, are rising; 45 percent year on year.

The rate of revenue decline slowed in the latest financial year, with Plasmon recording £14.8 million of sales in the first half and nearly identical sales of £14.6 million in the second half. The group expects to achieve a positive cash flow in the second half of the financial year ending March 31, 2009. Hopefully the 2010 financial year will see a profit after tax.

Plasmon expects to announce new industry partnerships soon which could strengthen the product offer and/or increase its sales channel strength; both being good news.

Read slightly more here.

^{[Paul Roberts, news editor.]}