Last checked at 23 Oct 2013 07:00
23 October 2013
OMG plc
("OMG" or the "Group")
Trading Update
OMG plc (AIM:OMG) the technology group providing image understanding products for the entertainment, defence, life science and engineering industries provides the following update on trading for the financial year ended 30 September 2013.
Revenues for the Group are expected to be ahead of the previous financial year but slightly behind market expectations of £30.4m. Out of our four businesses, the three most established subsidiaries - Vicon, Yotta and 2d3 - were all profitable for the full year. Vicon's House of Moves business had a difficult year but both Yotta and 2d3 achieved their respective market expectations. The Group (excluding OMG Life) now expects adjusted pre-tax profit for the period of £3.0m compared to market expectations of £3.9m (excluding OMG Life).
As previously highlighted at the time of the Interim Results, US sequestration has delayed the timing and shape of certain deals. Despite winning significant new software deals during the period, 2d3 has seen contract signature delays chiefly as a result of the US Government shutdown and this impacted its overall performance.
During the period, OMG Life produced and shipped its first consumer product, Autographer, which was made generally available for sale on 29 July 2013. The Group has sold and shipped its first devices to customers. Feedback from customers on the product's usability and the results it can generate have been positive - testament to the investments made in production processes and supply chain. Compared to OMG Life market expectation the adjusted loss is expected to be £0.4m higher.
The Group as a whole finished the year with a cash balance of £7.8m (FY12: £4.3m).
Mayrise Limited, the business acquired by Yotta in July of this year, has performed strongly and is delivering tangible benefits to the Yotta business. The first examples of cross-selling between Mayrise and Yotta have already been recorded, just two months after the deal, and the Mayrise business on a standalone basis has performed better than our expectations.
The Group will announce Preliminary Results for the financial year ended 30 September 2013 on Thursday 5 December 2013.
For further information please contact:
OMG plc | +44 (0) 1865 261800 |
Nick Bolton, CEO David Deacon, CFO | |
FTI Consulting | +44 (0) 20 7831 3113 |
Matt Dixon / Emma Appleton / Charles Palmer / Jessica Liebmann | |
N+1 Singer (NOMAD to OMG) | +44 (0) 20 7496 3000 |
Shaun Dobson / Jenny Wyllie |
About OMG plc
OMG plc (Oxford Metrics Group. AIM: OMG) is a group of technology companies producing image understanding products and services for the entertainment, defence, life science and engineering industries.
The Group's technology is used to capture the movements of actors (for the movie industry), sportsmen (for video games or improving team performance), children with cerebral palsy, rehab patients and animals (for medical, life science and research industries). The technology is also used for recording the condition of highways and the assets that surround them; or even for providing image intelligence and situational awareness from drone aircraft. Through this diverse offering the Group has earned its strong international reputation for precision from pixels.
Founded in 1984, the Group is headquartered in Oxford, UK, and has four offices in the US and two in the UK. It has customers in over 50 countries and is a quoted company listed on AIM, a market operated by the London Stock Exchange. The Group trades through four operating subsidiaries: Vicon, the world's largest motion capture and movement analysis company, 2d3, a manufacturer of specialised image understanding software for defence applications, Yotta, our highways software and surveying business and OMG Life, a new consumer subsidiary.
The Group's global clients spanning the worlds of science, medicine, sport, engineering, gaming, film and broadcast include: major hospitals and research facilities such as Guy's Hospital, Nuffield Orthopaedic Centre and Loughborough University, engineering industry leaders including: Ford Motor Company, BMW, Airbus and Toyota, and in the entertainment sector; Sony, Industrial Light and Magic, Sega, Nintendo, UbiSoft, EA and Square Enix. In highways, clients include Highways Agency, East Sussex, Lancashire, Transport for London, Cheshire East and West as well as many others.
For more information about OMG and its subsidiaries, visit
www.omgplc.com, www.vicon.com, www.2d3.com, www.yottadcl.com and www.autographer.com