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12.MAY.10 / ANNOUNCEMENT
INTERIM RESULTS STATEMENT FOR THE SIX MONTHS ENDED 31 MARCH 2010
OMG plc, (LSE: OMG) (“OMG” or the “Group”), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, announces interim results for the six months ended 31 March 2010.
Financial Highlights:
Record half year for Group, ahead of original market expectations
o Revenue up 5.9% to £14.4m (H109: £13.6m)
o At constant currency revenue up 9.2%, as a result of the Group‟s broad geographic reach
Adjusted Profit before Tax (Note 3) of £1.4m (H109: £1.2m)
Strengthened cash position of £4.1m as at 31 March 2010 (March 2009: £2.1m/September 2009: £2.8m)
Operational cash of £2.3m generated in first half (H109: Nil)
Group remains debt free
Operational Key Points:
Vicon showed return to excellent progress
o Reported revenue growth of 9.2% to £10.6m (H109: £9.7m)
o At constant currency revenue increased by 12.9%
o Vicon USA resumed growth, with revenue up 21.7% at constant currency
o Operating profit before allocation of Group overheads increased to £2.9m (H109: £1.3m)
o Film and games market share maintained, with Vicon used in Disney‟s Christmas Carol, Clash of the Titans and most recently the chart topping video game, Heavy Rain
o Collaboration with Fujikura, the world‟s premier golf shaft manufacturer
Yotta saw strong H1
o Signed its largest ever surveying contract with the Welsh Assembly Government, worth £4-5m over the next 4 years
o Yotta UK reduced its operating loss before allocation of Group overheads to £0.2m (H109: Loss £0.4m) despite harshest winter in 30 years
2d3, provider of defence software and services, progressed well
o Revenue up by 55% to £0.7m (H109: £0.4m)
o Achieved breakeven, before allocation of Group overheads for the first time (H109: Loss £0.3m)
Commenting on the results Nick Bolton, Group CEO, said:
”This is a record set of results – not just at the headline level but in the detail too. During this first half, despite the recent challenging economic environment, the Group signed its largest deal ever, drove 2d3 to breakeven, saw Vicon US return to its position of power and delivered £2.3m of operational cash generation. Our diversified business has served us well and we are particularly pleased with the significant improvement seen in Vicon’s US market. With renewed stability and confidence returning to some of our markets, we are cautiously optimistic that we will be able to continue to grow strongly.”
For further information please contact:
OMG plc +44 1865 261 800
Nick Bolton, Group CEO
David Deacon, Group CFO
Financial Dynamics +44 20 7831 3113
Juliet Clarke / Matt Dixon / Emma Appleton
Evolution Securities (NOMAD to OMG) +44 20 7071 4300
Jeremy Ellis
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About OMG
OMG plc (Oxford Metrics Group. LSE: OMG) is a group of technology companies producing image understanding products and services for the entertainment, defence, life science and engineering industries. Be it for capturing the movements of actors (for the movie industry), sportsmen (for video games or improving team performance), children with Cerebral Palsy, rehab patients and animals (for medical, life science and research industries) or virtual reality displays (for engineering and development), the Group has the world leading market position and a strong international reputation for precision instruments.
Founded in 1984, the Group’s headquarters are in Oxford, UK, and it has offices in California and Colorado, USA. It has customers in over 50 countries and is a quoted company listed on AIM, a market operated by the London Stock Exchange. The Group trades through three operating subsidiaries – Vicon, the world’s biggest motion capture and movement analysis company, 2d3, a manufacturer of specialised image understanding software for entertainment and defence applications and Yotta, our 3D mapping business, which collects and analyses highway data and street level imaging and which, following the acquisition of Mobile Video Services, Inc. in April 2008 is a leading US provider of data collection services for the assessment of property taxation.
Oxford Metrics’ global clients in science, medicine, sport, engineering, gaming, film, broadcast and 3D mapping include major hospitals and research facilities such as Guy's Hospital, Nuffield Orthopaedic Centre and Loughborough University, engineering industry leaders including Ford Motor Company, BMW, Airbus and Toyota, and in the entertainment sector, Sony, Industrial Light and Magic, The Moving Picture Company (MPC), Sega, Nintendo, UbiSoft, EA, Square Enix and in 3D mapping and highway surveys: Mouchel Parkman, Atkins, and Oxfordshire, Cumbria, Derbyshire and Pembrokeshire County Councils as well as many others.
For more information about OMG and its subsidiaries, visit www.omg3d.com, www.vicon.com, www.2d3.com or www.yottadcl.com
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