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| Share Name | Share Symbol | Market | Stock Type |
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| Avid Holdings | AVD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 0.095 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.095 | 0.095 |
| Top Posts |
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Posted at 29/9/2008 15:32 by berkley3 just a note to investors in this share.as well as holding a modest portfolio i own a engineering co which sub-contracts from electro-mec.Despite frequent calls for payment even a converasation with the ceo i was left with no alternative but to instuct my lawyers to issue a "winding up" order which they will be in receipt of this week. For investors in this co,i hope it is just cash flow problems. |
Posted at 10/2/2003 16:12 by maywillow ACTIVCARD ANNOUNCES FOURTH QUARTER 2002 REVENUES Achieves 34% Year-over-Year Revenue Growth in 2002 and Positive Cash Flow from Continuing Operations in Fourth Quarter FREMONT, CA – February 10, 2003 -- ActivCard® (NASDAQ: ACTID/NASDAQ EUROPE: ACTI), the leader in IDentity Management (IDM) software for remote access, secure sign-on and digital ID card solutions, today reported financial results for the year and quarter ended December 31, 2002. Revenues for the year ended December 31, 2002 increased 34% to $41.8 million compared to $31.2 million for the year ended December 31, 2001. In the fourth quarter of 2002, ActivCard reported its fourth consecutive quarterly revenue increase, achieving revenues of $12.1 million, an increase of 79% over the $6.8 million reported in the fourth quarter of 2001 and 1% higher than the third quarter of 2002. Net loss, in accordance with U.S. GAAP, for the year ended December 31, 2002 was $45.5 million, or $1.10 per diluted share, compared to $16.7 million, or $0.42 per diluted share, for the year ended December 31, 2001. The results for 2002 include a write-down of other intangible assets of $5.1 million, restructuring charges of $8.6 million and a loss from discontinued operations of $16.8 million. Net loss, in accordance with U.S. GAAP, for the fourth quarter of 2002 was $9.2 million, or $0.22 per diluted share, compared to a net loss of $9.8 million, or $0.24 per diluted share, in the fourth quarter of 2001 and $2.9 million, or $0.07 per diluted share, in the third quarter of 2002. Pro forma net loss for the fourth quarter of 2002 was $1.4 million, or $0.03 per diluted share, compared to a pro forma net loss of $6.2 million, or $0.16 per diluted share, in the fourth quarter of 2001 and $1.2 million, or $0.03 per diluted share, in the third quarter of 2002. Pro forma net loss for the quarter excludes acquisition-related charges, re-incorporation costs, deferred stock compensation charges, restructuring charges, foreign exchange gains and losses, and the loss from discontinued operations. “We are very pleased with the revenues we achieved in the fourth quarter and our 2002 growth rate of 34% is at the high end of the objectives and guidance we provided at the beginning of 2002,” commented ActivCard Chief Executive Officer Steven Humphreys. “We established a leadership position in the U.S. government during the year, which drove our revenue to record levels. We believe our recently completed re-incorporation as a U.S. company will position us well for further growth in U.S. government markets in the coming years.” 2002 Highlights Announced Microsoft® Corporation as a customer for AIMS and digital ID badge solutions for all of its employees. Chosen by Northrop Grumman as a sub-contractor for digital identity management software through NASA's Scientific and Engineering Workstation Procurement III (SEWP) contract. Licensed over 1.4 million copies of ActivCard Gold, our smart card client software, to the Defense Manpower Data Center for the Common Access Card deployments. Won new contracts with seven DoD agencies, DMDC, and six U.S. federal government civilian agencies and expanded business with existing U.S. government customers. Signed new resellers in Europe and the U.S. including Verisign, Allasso France, Envoy Data, World Wide Technology, and Latam Compuser Corporation. Launched the AIMS™ product line, a commercialized version of the card issuance and management technology originally developed for the U.S. DoD. Launched significant upgrades to existing products, including ActivPack™ 5.1, our AAA authentication server and remote access solution, and ActivCard Gold™, our client middleware software for smart cards and tokens; deepened our biometric certifications winning FIPS 140-1 Level 2 certification from the U.S. government and expanded our OEM relationship with Precise Biometrics. Mr. Humphreys added, "2002 was a milestone year for ActivCard, where we achieved record revenues, significantly cut operating expenses, introduced new product lines and enhanced product integration capabilities, deepened our channel and captured significant market share from our competitors. We succeeded in winning major deployments in the U.S. government and, despite the struggling economy, achieved record gains in our enterprise business, in both the U.S. and Asia. We also continued to expand our software business in Europe. We generated positive cash flow from continuing operations in the fourth quarter of 2002 and are approaching break-even on a pro forma basis." Fourth Quarter 2002 Highlights Won new business with three new U.S. Department of Defense (DoD) agencies for ActivCard Gold; won new business for our ActivCard Identity Management System (AIMS) with a U.S. federal government civilian agency; expanded business with the Defense Manpower Data Center; expanded existing deployments with four DoD agency customers; and expanded existing deployments with four U.S. government civilian agencies. Grew our Asia-Pacific business, including a new agreement with a leading Japanese service provider, to sell ActivCard IDM services as part of a value-added solution to its customers. Signed OEM agreements with two U.S. enterprise businesses: one with a leading personal computer (PC) provider to the U.S. government, to pre-install ActivCard Gold™ for CAC software with its new PCs for distribution to government departments; the other with a multimedia storage manufacturer, authorizing them to distribute ActivCard interfacing software for implementation of custom smart card terminal applications Signed three new enterprise customers, two of which purchased our AIMS enterprise edition software for the issuance and management of smart card ID badge deployments; expanded existing deployments of ActivCard IDM software with two enterprise customers. Expanded existing business with Inovant - VISA, who added AIMS to their current deployment of ActivCard IDM solutions; expanded existing business with Hewlett-Packard (HP), as the company placed new orders for ActivCard Corporate Access Card products and services. Q1 ’03 Outlook In the first quarter, we expect revenues to range between $12.0 million and $12.5 million. Net loss, in accordance with U.S. GAAP, for the first quarter of 2003 is expected to range between $0.05 and $0.08 per diluted share, which will include incremental costs related to the re-incorporation of the Company in the United States. The Company will not provide pro forma guidance beyond the fourth quarter 2002 results. On February 4, 2003, ActivCard Corp. (Nasdaq: ACTI; Nasdaq Europe: ACTI) and ActivCard S.A. announced the expiration and closing of ActivCard Corp.'s registered exchange offer for all of the outstanding common shares and American depositary shares ("ADSs") of ActivCard S.A. The exchange agents have advised ActivCard Corp. that 24,409,937 common shares and 15,417,729 ADSs were tendered and not withdrawn in the exchange offer prior to its expiration, which constitutes 94.8% of the outstanding securities of ActivCard S.A. ActivCard Corp. launched the exchange offer for the purpose of changing the domicile of the publicly listed company of the ActivCard group of companies to the state of Delaware in the United States. The ActivCard Corp. common stock is listed on the Nasdaq National Market and Nasdaq Europe under the symbol "ACTI", replacing the ActivCard S.A. ADSs and common shares. The ActivCard Corp. common stock will temporarily trade on the Nasdaq National Market under the symbol “ACTID” for a period of up to 20 trading days. ActivCard will hold a conference call at 11 a.m. EST on Monday, February 10, 2003, featuring Mr. Humphreys and Chief Financial Officer Mr. Blair Geddes, to discuss these fourth quarter and 2002 results. A live Webcast of this conference call will be available on the Investor page of our Website at for 20 days. Webcast participants should register approximately 15 minutes before the event to download and install any necessary software. A replay of the Webcast will be available on the Website’s investor page for 20 days after the call. |
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