Interim Results for the 6 months to 30 June 2010

 
First half highlights
  • New market opportunities for ANT as Germany, France and the UK begin to invest and launch products and services in the connected TV market
  • New licences won with leading device manufacturers
  • Gross margin exceeds 85% on revenue of £2.1m
  • Maintained investments in research and development whilst cash consumption reduced
  • Product offering for connected TV well received
  • Continued realignment of commercial focus to new, potentially, larger markets
      

H1 2010
H1 2009
Revenue
£2.1m
£2.0m
Gross Margin
£1.8m
£1.6m
Gross Margin %
85%
83%
Loss from Operations
(£0.5m)
(£0.9m)
Cash outflow
£0.4m
£0.6m
Cash and Cash equivalents
£4.6m
£5.1m
EPS
(0.02)p
(0.04)p
  
Financial Information for the 6 months ending 30th June 2010
 
Consolidated Income Statement
  
For the year ended 31 December
6 Months to
30 June 2010 (unaudited)
£
6 Months to
30 June 2009 (unaudited)
£
Year ended
31 December 2009 (audited)
£
Revenue
2,109,558
2,014,181
4,698,510
Cost of sales
(306,806)
(333,025)
(614,210)
Gross profit
1,802,752
1,681,156
4,084,300
Administrative expenses
(1,152,334)
(1,421,732)
(2,319,675)
Research and Development expenses
(1,165,104)
(1,155,142)
(2,476,450)
Loss from operations
(514,686)
(895,718)
(711,825)
Finance revenue
24,571
57,209
84,397
Loss before tax
(490,115)
(838,509)
(627,428)
Tax on loss on ordinary activities
(29,681)
(76,676)
63,700
Loss for the year
(519,796)
(915,185)
(563,728)
 
Consolidated Balance Sheet
  

As at
30 June 2010 (unaudited)
£
As at
30 June 2009 (unaudited)
£
As at
31 December 2009 (audited)
£
Non-current assets
 
 
 
Intangible assets
27,113
41,514
34,495
Property, plant and equipment
103,273
126,622
116,139
 
130,386
168,136
150,634
Current assets
 
 
 
Trade and other receivables
1,343,696
1,069,231
1,551,428
Other financial assets
2,500,000
3,000,000
3,000,000
Cash and cash equivalents
2,113,566
2,097,791
2,050,217
 
5,957,262
6,167,022
6,601,645
Total assets
6,087,648
6,335,158
6,752,279
       
Current liabilities
 
 
 
Trade and other payables
(1,469,252)
(1,544,438)
(1,622,283
Net assets
4,618,396
4,790,720
5,129,996
Capital and reserves
     
Called up share capital
1,214,318
1,214,318
1,214,318
Share premium account
12,066,990
12,066,990
12,066,990
Merger reserve
9,787,208
9,787,208
9,787,208
Retained losses
(18,450,120)
(18,277,796)
(17,938,520)
Total equity
4,618,396
4,790,720
5,129,996