Business
Preliminary Unaudited Results
Preliminary Unaudited Results.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n \nRNS Number : 1203M Seeing Machines Limited 21 August 2013 \n \n\nSeeing Machines Limited\n(\"Seeing Machines\" or the \"Company\")\n \n \nPRELIMINARY UNAUDITED RESULTS FOR THE YEAR ENDED 30 JUNE 2013\n \nSeeing Machines (AIM:SEE) is pleased to announce its preliminary results for the year ended 30 June 2013.\n \nHighlights\n· A$2,293,784 improvement in Net Profit to A$558,951 (2012: loss of A$1,734,833).\n· Total Revenue increase of 63% to A$12,735,741 (2012: A$7,824,226); \n· Gross profit increased 74% to A$7,492,697 (2012: A$4,315,567) due primarily to: \no a change in product mix resulting from higher DSS sales;\no the sale of services, including consulting; while maintaining\no consistent faceLAB® and faceAPI™ sales.\n· Cash at 30 June 2013 increased to A$835,001 (30 June 2012: A$578,022) mainly due to:\no proceeds from issue of shares during the year (A$1,923,188); offset by \no continuing investment in expansion of business development; and \no increased scaling of field support capabilities within the Company's main Driver Safety Solution (\"DSS\") markets.\n· Significant current sales pipeline of over A$20,000,000 comprising: \no new customers secured;\no significant backlog of firm orders at 30 June 2013\no existing customers planning programmed increases in their deployment.\n· Entered into a global alliance agreement with Caterpillar that will see DSS systems deployed through Caterpillar Dealers around the world;\n· Secured a major road transport customer, increasing the number of trucks now running DSS to over 80;\n· Additional DSS business secured in the North and Latin America, Australia and Indonesia.\n \nCommenting on the Preliminary Results, Seeing Machines Chairman, Terry Winters said: \n \n\"This continuing improvement in Seeing Machines' performance is the result of a clear strategy and a capable and maturing management team and board that remains focused on maintaining this positive trend as the Company evolves into a successful technology provider to its target markets around the world.\n \nDuring the year the Company continued to invest heavily in on-going R&D fo...