More detail21 Mar 2013 08:45
Results
The combined effect of the revenue and cost performance discussed above has resulted in Sopheon's EBITDA (Earnings before Interest, Tax, Depreciation and Amortization) performance for 2012 rising to £1.8m, compared to £1.5m 2011.
In common with other technology businesses, the board believes EBITDA provides a useful indicator of the underlying performance of our business by removing the effect on earnings of tax, capital spend and financing. EBITDA is further defined and reconciled to profit before tax in Note 4. Our calculation of EBITDA is stated after charging (i) share-based payments of £38,000 (2011: £39,000); (ii) impairment charges of acquired intangible assets of £175,000 (2011: £66,000); and (iii) exchange losses of £36,000 (2011: gains of £55,000 ) but excludes depreciation and amortization charges for the year of £1.2m (2011: £1.0m) and net finance costs of £0.3m (2011: £0.4m).
Including the effect of interest, depreciation and amortization, the Group reported a profit before tax for the year of £281,000 (2011: £104,000). No tax has been provided. The profit per ordinary share was 0.19p (2011: 0.07p).