25th Mar 2014 09:53
LONDON (Alliance News) - Ubisense Group PLC Tuesday said that it had entered 2014 with increasing momentum, even as its pretax loss widened in 2013 due to higher operating expenses and weaker margins.
Ubisense provides hardware, software and services to businesses to track people and assets.
Ubisense posted a pretax loss of GBP1.7 million in 2013, widened from a pretax loss of GBP728,000 in 2012, as revenue rose to GBP27.0 million from GBP24.3 million, but this was offset by higher sales costs and operating expenses, as the company invested in its Smart Factory and myWorld products.
Revenue was boosted by the acquisition of Geoplan Interworks KK during the year, which contributed GBP700,000 in incremental revenue. New channel partners, including Google Inc, helped contribute to strong customer bookings during the year. Services revenue rose to GBP13.6 million from GBP11.8 million, boosted by contract wins in the US.
Gross margin declined to 34.2% from 39.5%, due to a higher proportion of revenues coming from the company's Services division, and due to higher-margin Solutions revenue being partly delivered using contractors.
The company reorganised its business into a single Real Time Location Intelligence business at the start of 2013, integrating all of its location based technologies into a single platform.
Due to new customer orders during the year, Ubisense's order book as at December 31, 2013, was GBP17.9 million, up from GBP10.2 million in the previous year. Ubisense said it had begun the new year with a robust order book and pipeline, which gave it confidence for its future.
Shares in Ubisense were trading down up 1.5% at 247.50 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Ubisense Group