kurze Zusammenfassung: Inova wird im zweiten Halbjahr vor Steuern etwas Gewinn machen, im Gesamtjahr 2006 erwarten sie allerdings weiterhin Verlust, da sich einige Projekte verzögert haben. Also wird das noch nichts mit den von Analysten erwarteten 4-8Cent Gewinn pro Aktie.
Inova Holding PLC 11 December 2006
FOR IMMEDIATE RELEASE 11 December 2006
INOVA HOLDING PLC
TRADING UPDATE FOR YEAR ENDING 31 DECEMBER 2006
KAUFBEUREN, GERMANY - Inova Holding plc ("Inova" or "the Company") announces a trading update for the year ending 31 December 2006.
The second half of 2006 started with a record order book of ?7.8 million. However, a number of contracts in both the embedded computer and passenger infotainment divisions have been delayed into 2007 and, therefore, will not contribute to the results for the year to 31 December 2006.
It has taken longer than expected to complete the technical development of Inova's new CPU Compact Express range of embedded computer systems, delaying commercialisation until 2007. In addition, following the refit of 2 aircraft, the specification of the contract with AKKO, for upgrading in-flight infotainment systems for a Russian internal airline, has changed thereby delaying implementation until the first half of 2007. Completion of a number of small European passenger infotainment contracts, originally planned for 2006, will also now take place in 2007.
Implementation of the US$14.7 million infotainment contract with NBC Universal has now commenced and is expected to start contributing to revenues as planned during 2007.
Although the Company expects that revenue for 2006 will be higher than last year, it will be below market expectations. The Company also expects to make a pre-tax profit for the second half of 2006, and to reduce the loss for 2006 overall compared to 2005, but does not expect to achieve a pre-tax profit for the year.
The senior management team has been strengthened by the appointment in November of Dietrich Wagner as Inova's new Chief Financial Officer, replacing Stefan Kuhl who has left the Company.
In addition, the Board has embarked on an operational review to identify ways to improve the performance of the business. Steps have already been taken to strengthen the sales and marketing function and a search is currently under way for a Sales and Marketing Director.
Rod Hoare, Chairman of Inova, commented:
"Although the delays in certain contracts have caused frustration, Inova's experience to date clearly demonstrates its strengths in both embedded computer and passenger infotainment systems. These are reflected in our order book and success with customers such as NBC Universal and the Board is confident that the Company has established a robust platform for profitable growth."
Full year results
The full results announcement for the year ending 31 December 2006 will be made by the end of March or early April 2007.
ENDS
CONTACTS
Inova: +44 7714 223452
Rod Hoare (Chairman)
Daniel Stewart: +44 20-7776-6550 Alastair Cade
Bankside: +44 20-7367-8888 Simon Bloomfield or Steve Liebmann
INFORMATION ON INOVA
Established in 1997, Inova is a developer, manufacturer and distributor of embedded computer systems, with particular expertise in systems for rugged environments. From this base it has also developed an expanding Passenger Infotainment business which provides information and entertainment systems on public transport including trains, trams and buses. These systems are able to provide a single solution for real time entertainment and news alongside passenger information, on-board monitoring of systems and CCTV. The business uses Inova's core embedded computers and technology as the basis of its system.
Inova is based in Germany with headquarters for Inova Computers GmbH (the embedded computer business) in Kaufbeuren, Bavaria, and Inova Multimedia (the on-board Passenger Infotainment business) in Hildesheim, near Hannover. The Group also has offices in Austria, the USA, Switzerland, the UK and France.
The Group has established an international customer base with increasing sales across both its embedded computing and Passenger Infotainment business segments.
This information is provided by RNS The company news service from the London Stock Exchange
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