31st Mar 2005 07:00
Tecteon PLC31 March 2005 TECTEON PLC Interim Results for the period ended 31 December 2004 Tecteon PLC ("Tecteon" or "the Company"), the software developer for the voicequality & comfort listening for telecommunications markets, announces itsInterim Results for the period ended 31 December 2004. Key highlights: O Significant progress made towards commercialisation O Partnership agreement with AMI Semiconductors (previously known as Dspfactory) O Licensing agreement signed, with undisclosed party, product launched O Additional products developed and marketed Post-period events: O Appointment of Amir Nooral as Chief Executive O Licence agreement with Clement Clarke Communications (C3) O Tecteon to support the CCMA's Acoustic Safety Programme Masoud Alikhani, Chairman, Tecteon plc, commented: "The Board is happy with the progress that the business is making. Tecteon'sunique product range is being well received, initial contracts have been won and enquiry levels are high. We are therefore confident regarding the futureprospects." For further information please contact: Amir Nooral, Chief Executive, Tecteon plc Tel: 020 8446 5005 Michael Padley/Susan Scott, Bankside Consultants Tel: 020 7444 4140 CHAIRMAN'S STATEMENT For the six months ended 31 December 2004, the Directors report turnover of£84,689 compared with £157,903 for the same period in 2003. The unaudited lossamounted to £387,277 compared to a loss of £263,610 for the same period in 2003.In the period under review, Tecteon received £5,000 from the sale of voicequality technology, compared to £73,370 in the prior-year period. Depreciationand amortisation costs also included £241,902 in respect of the amortisation forthe cost of developing the technology, compared with £164,881 in 2003. Voice quality market The six month period under review was one of progress. The change in strategy isbeginning to pay dividends, enquiry levels are high and we have negotiated thefirst licence agreements. This has continued into the current year; we haveannounced a further licence agreement with C3 and we are in discussion with anumber of other parties. We also are looking at changing the business model slightly by providingreference designs. Under the terms of the agreement with C3, Tecteon hasdeveloped and will deliver the design of the hardware platform that interfacesto call centre communication equipment, including headsets. The platform willrun Tecteon's digital signal processing voice quality software algorithms,including the Audio Shock Attenuator, the Automatic Gain Control, and theUniversal Tone Detector & Suppressor. This product has been developed ahead of the European Directive 2003/10/EC,which becomes law in February 2006. The Directive is aimed at protecting thehearing of call centre operators, of which there are about 1 million in the UKalone, and the Board sees this as a significant market opportunity. TheDirective, in conjunction with the UK's Acoustic Safety Programme (a programmesupported by leading manufacturers, as well as the Department of Trade andIndustry, the Health & Safety Executive, the Communication Workers Union, theEuropean Confederation of Contact Centre Organisations and others), has been putin place to protect call centre operators from the risks associated withacoustic shock. Tecteon's solutions can protect call centre operators from highlevels of acoustic shock and daily exposure to high sound pressure levels. We currently are evaluating the merits of developing a generic reference designplatform for this new business model; should we decide to proceed, someadditional funding will be required. Overall, the Board is happy with the progress that voice quality is making. Itsunique product range is being well received and the call centre market offers usan opportunity to which our technology is particularly suited. Oil and gas Dominion continues to benefit from the high oil price but is peripheral to thecore business. The decision therefore has been taken to divest the business andwe actively are evaluating opportunities to do so. Outlook The voice quality business is performing well. Initial contracts have been won,product has been delivered and successfully integrated. Enquiry levels remainhigh and we remain confident regarding the prospects for the Company. M A AlikhaniChairman31 March 2005 --- TECTEON PLC Unaudited results for the six months ended 31 December 2004 Six months to Six months to 31 December 31 December 2004 2003 £ £ TURNOVER 84,689 157,903 Depreciation and amortisation - ordinary (251,897) (180,569) Other costs of sales (40,929) (52,098) ________ _______GROSS LOSS (208,137) (74,764) Administrative expenses (179,237) (182,435) ________ ________ OPERATING LOSS (387,374) (257,199) Interest receivable and similar income 97 - Interest payable and similar charges - (6,411) _________ _________LOSS ON ORDINARY ACTIVITIESBEFORE AND AFTER TAXATION (387,277) (263,610) ========= ========= Loss per share - Basic (p) (0.26) (0.18) Notes:1. The activities for the period are continuing. 2. The results do not constitute the Company's statutory accounts. 3. The accounting policies are consistent with those applied in the preparation of the annual statutory accounts. 4. These results and the corresponding results for the last period are unaudited. 5. The Directors do not recommend the payment of a dividend. 6. The loss per share of 0.26p (2003: loss 0.18p) has been calculated on the basis of the loss of £387,277 (2003: £263,610) and on 146,717,132 (2003: 145,941,161) ordinary shares, being the weighted average number of ordinary shares in issue during the period ended 31 December 2004. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Berkeley Mineral Resources