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I-design narrows FY operating losses

27 November 2008  |  1812 views  |  0 Source: i-design

I-design, which provides a market leading ATM advertising solution (called atmAd) enabling ATM network owners to run both third party advertising and their own internal marketing campaigns on their ATM screens and receipts, is pleased to announce its preliminary results for the year ended 30 September 2008.

Corporate Highlights

  • ATMs available for third party advertising increased more than fourfold to 4,500 at 30 September (2007: 1,000)
    • full benefits yet to come through
  • New contracts secured with ATM owners during year brings total number of ATMs licensed with atmAd to 12,000 cash point machines at 30 September 2008 (2007: 8,100)
  • First overseas win for atmAd - secured in May 2008 via reseller
  • Media sales income growing strongly - 50% increase in number of brands booking campaigns on ATMs
    • highly accountable and engaged nature of adverting interaction remains very attractive to advertisers
    • average value of booking increased by 16% year-on-year
    • first ever multi-network ATM advertising campaign in June

Financial Highlights

  • Revenue more than doubled to £2.07m (2007: £1.03m)
  • Gross profits increased more than sixfold to £796,000 (2007: £125,000)
  • Operating loss reduced by 5% to £623,000 (2007: £656,000)
  • Loss before tax reduced by 14% to £536,000 (2007: £622,000)
  • Loss per share reduced by 33% to 0.04p (2007: 0.06p)
  • Bonds (disclosed as Loans and receivables) totalling £0.5m (2007: £nil) plus net cash of £1.6m at 30 September 2008 (2007: £2.65m).
  • Board views outlook for the current financial year and beyond with optimism

Commenting on results, Chairman, Jim Faulds, said, "Since the launch of atmAd in 2004, we have seen the business develop rapidly and I am pleased to report on further substantial progress over the year.

Our offering, both in terms of our technology and the scope of our services, is highly differentiated. Uniquely, our product, atmAd, can be integrated into existing software networks and installed on any type of ATM. We are also able to deliver thiird party advertisers and manage ATM advertising campaigns and so enable ATM owners to generate new revenues from their ATM estates. This integrated approach is unparalleled in our industry to date and a major attraction for ATM owners.

We now have third party ATM advertising agreements in place with three major UK retail banks, which is proving highly attractive to advertisers. Since the start of the new financial year, demand for our specialist digital advertising medium remains healthy despite advertising lead times shortening and the substantial increase in the number of ATMs available for advertisers leaves us well placed to grow media sales revenues significantly.

We continue to invest in enhancing our product, atmAd, and to expand our staff resource and view the outlook for the current financial year and beyond with optimism."

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