22 October 2017
visit www.response.ncr.com

Patsystems rises on Q2 trading update

01 July 2005  |  4428 views  |  0 patsystems_2

Shares in London screen dealing firm Patsystems have jumped on news that it expects to break even for the first half of the year after posting a Q2 trading profit of £300,000, boosted by increased revenues and lower costs.

Patsystems stock rose 16.60% in morning trading to 14.00 pence after the firm released a pre-close update saying it expects to report a trading profit of approximately £300,000 for the second quarter ending 30 June 30th, compared to losses of around £350,000 for Q2 last year.

Second quarter exceptional costs amount to around £175,000, comprising final R&D costs of the vendor's new TradeMark platform and legal fees relating to the Trading Technologies patent issue, which was settled in May.

The vendor says trading profit for the half year is expected to be approximately break even compared with a trading loss of £782,000 in the first half of 2004.

First half 2005 pre-tax and interest loss is expected to be £550,000-£600,000, compared to a first half loss of £1,850,000 in 2004. The improvements are a result of increased revenues combined with a sustained reduction in costs.

Patsystems says starting in June 2005 it has a total cost base (including depreciation and amortisation) of just under £3 million per quarter, down from £3.7 million in mid-2004, and revenues of over £3 million, before launches of new products or new client contracts.

The firm expects to release its interim results for the six months ended 30 June 2005 in early August.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Patsystems releases Pro-Mark and IQ-Trader front ends

Patsystems releases Pro-Mark and IQ-Trader front ends

08 June 2005  |  4476 views  |  0 comments
Patsystems outlines royalty settlement with Trading Technologies

Patsystems outlines royalty settlement with Trading Technologies

23 May 2005  |  8584 views  |  0 comments
Patsystems settles TT patent claim

Patsystems settles TT patent claim

20 May 2005  |  10530 views  |  0 comments
Patsystems on course for break even in Q2

Patsystems on course for break even in Q2

21 April 2005  |  4359 views  |  0 comments
Patsystems wins Tokyo Grain Exchange deal

Patsystems wins Tokyo Grain Exchange deal

21 February 2005  |  4363 views  |  0 comments
Patsystems unsettled by TT patent case; profits forecast for 2005

Patsystems unsettled by TT patent case; profits forecast for 2005

07 February 2005  |  5583 views  |  0 comments
Patsystems rushes out Reflector interface

Patsystems rushes out Reflector interface

25 November 2004  |  3907 views  |  0 comments
Patsystems to post 12% revenue rise for Q3

Patsystems to post 12% revenue rise for Q3

08 November 2004  |  3186 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
14934 views comments | 17 tweets | 29 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13324 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9879 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9858 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8882 views comments | 9 tweets | 18 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job