Software Radio Technology (AIM:SRT) – Interim results disappoint and it remains a tough one to
Interim results from the AIM-quoted developer and supplier of maritime identification and tracking technologies look disappointing and hardly encourage
Revenue for this small company with a current market cap of £25m remains negligible. For the 6 months ending 30th September revenue fell 25% to £3.5m when compared with the corresponding period last year with a resulting loss before tax of £171k (£1.2m profit). An R&D tax credit of £0.32 million subsequently pushed the business into profit. Gross margin was weaker at 42% (2011: 55%) due to a higher proportion of lower margin Identifier products within the sales mix and also a stock write down of some components used in older products. The latter point is worrying given the relatively…