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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tertre Rouge Assets Plc | LSE:TRA | London | Ordinary Share | GB00BNHN6S26 | ORD GBP0.04 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 65.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Blank Checks | 0 | -591k | -0.1159 | -5.61 | 3.32M |
RNS Number:5400K TransEDA PLC 30 April 2003 TransEDA plc ("TransEDA") Result of Strategic Review TransEDA, the designer and developer of software tools for the EDA industry, announces the results of the strategic review carried out by the Board with Sigma Technology Management ("Sigma"), which was previously announced at the Interims. The Company has taken a number of actions to further reduce costs and the following areas of the business have been identified which will improve operating efficiencies: *Sales Total sales in Q3 were #765,000 against a forecast of #750,000 issued on 12 March 2003. Sales invoiced in the period were #789,000, consisting of #327,000 of new product and #462,000 of new maintenance. It should be noted that, in line with normal industry policy, TransEDA is typically paid in advance for maintenance, but does not immediately include this in sales, instead spreading the revenue evenly over the period of the associated contract. The balance is held as deferred income in creditors. There was a total of #822,000 of such deferred income on the balance sheet as at 31 Dec 2002, of which #351,000 was subsequently recognised as sales in the quarter. In addition, #87,000 of new maintenance invoiced was recognised as sales with the balance added to deferred income. There is still no clear indication of a recovery in TransEDA's markets, but as previously noted there have been indications of a stabilisation of demand and TransEDA continues to benefit from utilisation of its products amongst the large installed base, which contributes to a strong recurrent maintenance revenue stream. Costs Further reductions have been identified which TransEDA is seeking to implement over the next quarter in order to bring costs into line with the current revenue base, though the full benefit will not be felt until the next financial year. One action that has already been taken is to work with SRI International to reduce the minimum payments due to them as part of the technology licensing agreement between the two companies. Products TransEDA is continuing to invest in adding new functionality to the existing portfolio of structural verification products to maintain its position in this market. Development is also ongoing for a new generation of property-based tools and it is encouraging to note that VN Property DX, the first of our formal verification products, has already achieved its first sales since the launch in March and evaluation is under way at a number of our key customers. We are pleased to announce that in recognition of the innovative nature of this work, TransEDA has recently won a DTI SMART award of #150,000 to contribute towards development costs. Overall, the Board maintains its cautious optimism that with the appropriate actions and assuming no further significant downturn in the operating environment, TransEDA will be well placed to capitalise on the strength of its technology, customer relationships and people. A further update will be announced to shareholders at the end of June. -Ends- For further information: Gordon Whelan TransEDA 023 8068 3505 Keith Monserrat Sigma 020 7653 3200 Ann marie Wilkinson/Gemma Smith Beattie Financial 020 7398 3300 Notes to Editors: Sigma Technology Management is a specialist technology advisory and investment business. The Sigma team will be led by Keith Monserrat, the Chief Technology Officer at Sigma. He previously served on the executive boards of Scottish Telecom plc and Kingston Communications plc and was a founding non-executive director of Colt Communications. He currently serves as a non-executive director at TenisonEDA, a semiconductor EDA tools company based in Cambridge. He has had previous experience in the semiconductor industry whilst working at BT, and has a doctorate in semiconductor physics. * All figures that have been prepared by the Directors are unaudited. This information is provided by RNS The company news service from the London Stock Exchange END MSCPUUUWCUPWPPB
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