18 May 2012 – final results
For the year ended 31 March 2012 revenues were US$114.4m, up 73% year-on-year. Adjusted net profit before acquisition and integration costs and amortisation on purchased intangibles for was US$12.7m (2011: US$9.8m). Adjusted basic earnings per share were 3.60 cents (2011: 3.05 cents). The cash balance as at 31 March 2012 was US$38.4m (31 March 2011: US$52.8m).
The company appears to be making good progress and has now indexed more than 35 million hours of audio, video, viral and TV content. There is strong potential for a significant increase in the share price over the longer term and although not without risk given the innovative nature of the business, we rate the shares as a BUY.