Friday, February 26, 2016

Myriad writes loss – financial and economic

The mobile software developer reported a sales decline of more than 30% for the fiscal year. The outlook for 2016 is cautious.

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(AWP) The mobile software developer Myriad ( MYRN 2.65 – 7.99% ) in fiscal 2015 suffered due to the expiry of the short message service msngr significant revenue losses. This could not be offset by the new platform Versy. Sales decreased by 32% to $ 27.3 million back, as the company announced on Thursday evening.

The EBITDA before non-recurring charges amounted to EUR 13.1 million after plus 7.5 million in Previous year. The result was affected by non-cash related expenses of $ 47.5 million. These include some adjustments to the 2012 acquired Synchronica. Here, the investment in Versy have identified 11.8 million. The EBIT fell accordingly to -65.5 million (previous year 8.6 million) and the net result was a loss of 67.9 million according to yet a profit of 8.1 million in the previous year.

the cash position by the end of 2015 finally is reported at $ 37.8 million, from 23.1 million at the end of 2014.

the outlook for the current year precipitates behave. It is expected again to be well below the previous year sales. This will partially offset by the expected growth in the division’s Device Solution. In addition, significant investments in Versy be expected again.

In the board there is a mutation. David Nuescheler occurs at the General Meeting not to seek re-election. As a new member David Galbraith is proposed as a candidate.



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