Escher Group Holdings plc (AIM: ESCH) - results as expected confident outlook statement
Having updated the market at the beginning of January 2015 that overall revenues for the year ending 31st December 2014 were going to be down 15% year-on-year and that adjusted EBITDA would also be materially below the then market expectations, today’s results didn’t come as much of a surprise. However, news that a delayed contract had been successfully completed and a confident outlook statement has given the shares of the outsourced point-of-service software to the postal industry a nice boost.
Revenue for the year was US$21.1m (2013: US$24.7m), adjusted EBITDA US$2.1 million (2013: US$4.2 million) and the reported loss for the year US$995k (2013: US$919k profit) Founded in 1989 Escher is a world leading developer and provider of outsourced, point-of-service software for use in the worldwide postal industry. Its core software, RiposteEssential™, enables post offices to expand upon their traditional offering, providing additional new services, reducing costs and increasing efficiency. Riposte® is a messaging middleware that enables applications operating on different computers to communicate with each other. The Riposte® software manages data, monitors the system status and communicates across the…