Business
Interim Management Statement
Interim Management Statement.
About this update from Arkle Resources Plc
[{"type":"text","content":"\n RNS Number : 5377S Arc International PLC 20 May 2009 \n20 May 2009\n \nARC International plc\n \nInterim Management Statement\n \nARC International, (LSE: ARK), a leading provider of consumer IP to OEM and semiconductor companies globally, provides an Interim Management Statement for the period from 1st January 2009 to the date of this announcement.\nMarket conditions remain challenging, with longer sales cycles, with the result that the Board is expecting to generate revenues for the first half of between £6m to £8m (H1 2008: £9.3m). However, ARC's licensing pipeline is healthy and its balance sheet remains strong with cash balances of £9.8m at 30th April 2009.\nOur recent strategic investment in R&D facilities in India and Russia has begun to deliver the anticipated returns, with the release of the new ARC Sound 211SFX and two new Sound-to-Silicon solutions, ahead of plan. These will be launched at Computex in Taiwan on 2nd June.\nGeoff Bristow, newly-appointed CEO of ARC International, commented:\n\"The financial outlook for the first half is very disappointing, demonstrating the need for action. The Board and I are committed to achieving profitability and positive cash flow in the near term and we remain convinced of the long-term value within ARC and its market leading product set. These are tough times but I am confident that we can emerge as a stronger, more efficient business in the future. I look forward to updating the market with the action plan at the time of our interim results.\" \nThe results for the six months to 30th June 2009 will be announced on 5th August 2009.\n-ends-\nEnquiries:\n\n\n\n\nARC International\n\n\n \n\n\n\n\nRichard Barfield, Chairman \n\n\n+44 7802 611428\n\n\n\n\nGeoff Bristow, CEO \n\n\n+1 408 219 2470\n\n\n\n\n \n\n\n \n\n\n\n\nFinancial Dynamics\n\n\n \n\n\n\n\nJuliet Clarke / Matt Dixon / Erwan Gouraud\n\n\n020 7831 3113\n\n\n\n\n \n \n \n \n \nThis information is provided by RNSThe company news service f...