Global Graphics SA, experts in developing e-document and printing software, announces its consolidated results for the quarter and the six-month period ended 30 June 2012, and reports sales of Euro 2.4 million, ahead of management’s expectations, and a nominal adjusted pre-tax loss for the second quarter of 2012.
Comparisons for the second quarter of the financial year ending 31 December 2012 with the same quarter of the previous financial year include:
sales of Euro 2.4 million this quarter (Euro 2.2 million at Q2 2011 exchange rates) compared with Euro 2.1 million in Q2 2011;
an operating loss of Euro 0.1 million this quarter, compared with a nominal operating profit in Q2 2011;
a nominal adjusted operating loss this quarter, compared with an adjusted operating loss of Euro 0.2 million in Q2 2011;
a nominal adjusted pre-tax loss this quarter (or an adjusted pre-tax loss of Euro 0.00 per share), compared with an adjusted pre-tax loss of Euro 0.2 million in Q2 2011 (or an adjusted pre-tax loss of Euro 0.02 per share);
a net loss of Euro 0.1 million this quarter (or a net loss of Euro 0.01 per share), as was the case in Q2 2011; and an adjusted net loss of Euro 0.1 million this quarter (or an adjusted net loss of Euro 0.01 per share), compared with an adjusted net loss of Euro 0.2 million in Q2 2011 (or an adjusted net loss of Euro 0.02 per share).
Commenting on the quarter’s performance, Gary Fry, Global Graphics’ Chief Executive Officer, said: “I am pleased to report that our sales performance in the second quarter of the current financial year is ahead of expectations and that our cash position remains strong.
“We signed five contracts during the quarter, two of which give us a foothold in the mid-range digital print market and another in the market for managed print services. We were also very pleased to announce that our relationship with HP continues to expand, and that the Harlequin RIP has been chosen to drive HP’s Print Module System which was unveiled at drupa last May. This tradeshow was very successful for us as a platform to communicate to the industry the superiority of our Harlequin RIP technology for high-speed digital printing applications.
“In the electronic document segment, the gDoc Binder platform has been rolled out to 100 lawyers by a London law firm, Speechly Bircham. This technology continues to gain traction in the legal market and is being actively promoted by our system integrator partners.”
Analysis of the Company’s performance during the quarter and six months to 30 June 2012
A detailed discussion of the Company’s financial performance during the quarter and the six-month period ended 30 June 2012, notably including a comparison with the previous financial year’s comparative periods, is included in notes 2 and 3 to the interim management report of the Company’s Board of Directors for the quarter and the six-month period ended 30 June 2012, which is attached to this press release, together with the condensed consolidated interim financial statements for the same periods.
CEO comments on future prospects
Gary Fry added: “Our Harlequin and Jaws OEM partners have informed us that they had a very good drupa tradeshow: we therefore anticipate that this should result in additional revenues for the remainder of this year and into the next financial year. We also had a very positive reaction from major digital print vendors about the results of our independent performance testing on the Harlequin RIP.