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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
I-Mate | LSE:IMTE | London | Ordinary Share | GB00B0J0C046 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.12 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9295E i-mate plc 02 October 2007 For immediate release 2 October 2007 i-mate plc Pre Close Update i-mateTM (London AIM: IMTE), the specialist in Microsoft Windows Mobile devices and software applications, today issues the following update for the six months ending 30 September 2007. "The Company continues to make steady progress with sales anticipated to be slightly ahead of market expectations, with underlying trading-related pre-tax loss in line with market expectations. The Group's cash position stands at a healthy US$54 Million. The first two devices from the Ultimate range of products were launched at GITEX in September and were extremely well received. A further two Ultimate devices will be launched at CTIA in the USA later this month. The quality test programme that we implemented is ensuring that i-mate delivers only the highest quality products, but has resulted in a two month delay to the originally planned launch of the Ultimate device range. However, we expect these devices to start shipping in volume during this quarter. The Company is focusing on key product ranges and after a further review of the planned new product lines, it was determined that the Urban line of devices would not meet the stringent quality tests now in place in time to penetrate their target markets . Therefore, the Urban range has consequently been cancelled. To further strengthen the overall quality and efficiency of the i-mate service we are bringing in- house the previously outsourced aftermarket service management provided with every device. Given these changes and the evolution of the business model, certain non-recurring charges to the P&L will be taken with respect to the writing down of historical stock, the expensing of costs in relation to the cancelled Urban product line and the costs related to setting up an in-house after market service operation. We anticipate that in total these charges will be in the range of $6m-$10m. We believe that the actions taken will enable the Group to be 100% focused on its core strategy of delivering high quality leading edge devices supported by world class service to our customers. For further information please contact: Buchanan Communications Jeremy Garcia / Robin Haddrill Tel: 020 7466 5000 JPMorgan Cazenove Nicholas Garrett / David Harvey - Evers Tel: 020 7588 2828 This information is provided by RNS The company news service from the London Stock Exchange END TSTDBBDGRGGGGRB
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