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| nCypher makes a loss despite record revenues |
| Written by Business Weekly | |
| Thursday, 22 February 2007 | |
|
Data security specialist nCipher has announced a pretax loss for the full year, despite achieving record revenues of £21.2m, citing an impairment charge associated with its purchase of a majority stake in Abridean in 2005.
Pretax, the firm recorded a loss of £4.72m for the year ended December 2006, compared with a £3.74m profit for the previous year. Revenues were up to £21.2m from £17.4m for 2005, generated from sales in both goods and services. nCipher also announced its intention to return £34m to shareholders via a tender offer, to be made as soon as the firm receives court approval, according to chairman, Robert Jeens. The announcement saw the firm's share price lose almost four per cent, dropping 9.5p to 244p. |
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