Wednesday, 20 February 2013 – Sydney – International automotive software developer, Infomedia Ltd (ASX:IFM) today released its half year financial results for FY2013, announcing growth in sales revenue and net profit.
Reported sales revenue for the six months ending 30 December 2012 was $23,457,000, representing an increase of $1,005,000 or 4% over the previous corresponding period. In constant currency terms, sales revenue increased by $1,537,000 or 7%. The growth in sales revenue combined with continued management of operating costs and lower tax expense yielded a net profit after tax (NPAT) of $5,120,000 representing an NPAT increase of $1,217,000 over the previous corresponding period.
In particular, Superservice solutions revenue grew by 16% over the previous reporting period despite adverse foreign exchange impacts.
Subscription equivalents grew by 948 during the period to a record 71,464.
An interim FY13 half year dividend of 1.27 cents per share (franked to 0.5 cents) has been declared (FY12: 1.03 cents fully franked). This represents a 23% increase over the FY12 interim dividend. The record date to determine entitlements to the dividend distribution is 6 March 2013 and the date on which the dividend distribution is payable will be 19 March 2013.
During the second half of FY13, the Company anticipates a small increase in operational costs and an increase in amortisation and tax expense. However, continued growth in subscriptions and sales revenue is also anticipated. Consequently, the Company revises its FY13 NPAT guidance to $8.5m to $9.5m (previously $8.0m to $9.0m).
At the recent North American Dealer Association (NADA) convention in the USA, Infomedia’s innovation and leading edge products received positive recognition from the dealers and industry stakeholders who visited the Company’s exhibit.
Infomedia Executive Chairman Richard Graham said: “In addition to the continuing growth of the Superservice product line, during the second half of the year the Company will continue to focus on product penetration of its new cloud-based EPC and Superservice products.”
“These products include Superservice Menus™ and Superservice Triage™ for Chrysler, General Motors and Toyota in the USA, Superservice Register™ for Hyundai in Europe, and Microcat LIVE for Toyota in Great Britain and Chrysler in the USA. Management expects these products to make a notable contribution in the years ahead,” Mr Graham said.