Thursday, 17 February 2011 – Sydney – International automotive software developer, Infomedia Ltd (ASX:IFM) today released its half year financial results for FY2011. Reported sales revenue for the six months, which was impacted by adverse foreign currency translations due to the stronger Australian dollar, was $22,332,000. This represents a 3.3% reduction over the previous corresponding period.
In constant currency terms, revenue increased $1.1m driven primarily by a 48% increase in Superservice Menu™ revenue over the previous corresponding period. Cash flows from operations increased by $1.5m to $4.7m for the six months due to operational cost savings. Reported net profit after tax (NPAT) for the six months was $4,779,000 which represents a reduction of $901,000 from the previous corresponding period.
Included in this result is an increase in the depreciation and amortisation charge of $953,000 due to the commercial release of previously capitalised software. An interim half year fully franked dividend of 1.2 cents per share has been declared. The record date to determine entitlements to the dividend distribution is 1 March 2011 and the date on which the dividend distribution is payable will be 15 March 2011.
The declared interim dividend represents 76% of net profit after tax for the half year period. Based on current foreign exchange rates and an increased amortisation charge of approximately $2m for the full year, Infomedia anticipates its full year sales revenue for financial year 2011 to be between $43m and $45m (FY10: $45m) and net profit after tax to be between $9m and $10m (FY10: $11m).