NetDimensions widens 2013 loss on restructuring

NetDimensions widened its annual loss, reflecting the costs of a three-year restructuring plan.Loss before tax was $4.9m in the year ended December 31st 2013, compared to a loss of $0.2m in 2012, as the group invested $4.9m in improving the business. Investments included $3.4m on new staff, $0.7m on marketing, $0.4m on infrastructure and $0.4m on professional fees related to the acquisition of eHealthcareIT, the Silicon Valley Bank loan facility and the share placing.Revenue jumped by 17% to $16.2m, which included $1.3m from NetDimensions Healthcare, the new division formed on the March 2013 following the acquisition of eHealthcareIT. The Europe, Middle East and Africa remained the largest market for the group, comprising 44% of revenues. The North America region accounted for 42% while the Asia Pacific and the rest of the world regions made up 9% and 5%, respectively. Net cash increased to $7.7m from $6.8m.The company raised its dividend by 25% to one cent per share.Chairman Roger Durn said: "The major investment phase of the three-year Business plan was substantially completed in 2013. The current financial year is about maintaining focus on high consequence industries such as healthcare, life sciences, financial services, energy, manufacturing and transportation."RD