Business
Audited Results for the year ended 30 June 2012
Audited Results for the year ended 30 June 2012.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 2386O CAP-XX Limited 09 October 2012 \n \n\n \n9 October 2012\n \nCAP-XX Limited\nAudited Results for the year ended 30 June 2012\n \nCAP-XX Limited, a world leader in the design and manufacture of revolutionary thin-form supercapacitors, which considerably extend the performance of current battery technology in small portable devices, announces its results for the year ended 30 June 2012.\n \nKey highlights\n \n· Total revenue of AUD$3.5 million (2011: AUD$3.8 million) included AUD$3.4 million (2011: AUD$3.1 million) of product sales, a 10% increase year on year generated in CAP-XX's traditional markets of handheld and portable devices \n· Service revenue, as anticipated, resulted in nil contribution (2011: AUD$0.7 million) reflecting the timing of Murata payments\n· Operating loss of AUD$2.9 million (2011: AUD$3.3 million) reflects the ongoing improvement in product margin which offsets the timing of the Murata service revenue. The increase in the R&D tax rebate from the Australian Tax Office, which will be received in cash, was a result of increased product development expenditure\n· Successful completion of a £2.8m capital raising in March with 9.245 million shares issued at 30p per share. Cash reserves at the end of June were A$3.8m\n· Increased interest in the CAP-XX technology beyond mobile devices, notably in the automotive and other large cell markets\n· The Board expects royalty receipts from Murata to increase following the recent Murata announcement related to product extensions and capacity expansion* \n \nAnthony Kongats, CEO of CAP-XX said:\n\"We are encouraged by the continued expansion of our own product sales and the enthusiasm shown by potential customers in our larger devices, which have been developed for the automotive stop-start market. Meanwhile, the recent announcement of capacity expansion by our partner Murata gives us further encouragement that we are closer to adoption of supercapacitor technology for the mobile handset market.\"\n* http://www.murata.com/new/news_release/2012/0924/index.html\n \nFor further information contact:\n \nCAP-XX\nAntho...