Final Results
APPLIED TECHNOLOGY MONITORING PLC
("ATM" OR "COMPANY)
CHAIRMAN'S STATEMENT
for the period ended
31st December 2007
There follows the audited consolidated results for the nine month period from
1st April 2007 to 31st December 2007. These show a loss of £ 302,000 after
taxation, on turnover of £ 352,000. Gross margins during the period ran at 53%.
This report is the result of a change in your Company's financial year end and
is brought about by the strategic review of the sales and marketing
performance, referred to in my last statement. The discussions with an
established, integrated solutions' provider over the last six months have
confirmed that opportunities do exist for sales' growth in return for
above-average gross margins. The discussions continue with the objective of
formalising a relationship that will achieve the optimum results for both
parties; if successful, shareholders and the market will be informed at the
earliest opportunity.
In addition to thanking all shareholders for their on-going support I would
like to thank the present Directors and the staff for their efforts. I look
forward to communicating with you again shortly, as soon as a date can be set
for the AGM.
Martin Trussler, Chairman
28th July 2008
APPLIED TECHNOLOGY MONITORING PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2007
1 April 2007 1 April 2006
to to
31 December 31 March
2007 2007
£ £
Turnover 351,607 650,212
Cost of sales (165,507) (341,518)
Gross profit 186,100 308,694
Other operating charges (472,319) (535,267)
Loss on ordinary activities before interest (286,219) (226,573)
Interest payable (36,215) (39,840)
Interest receivable 980 60
Loss on ordinary activities before taxation (321,454) (266,353)
Tax on loss on ordinary activities 19,007 19,512
Retained loss on ordinary activities after taxation
and before minority interest (302,447) (246,841)
Minority interest (equity) - -
Retained loss on ordinary activities after minority interest
for the year (302,447) (246,841)
Basic loss per share (2.31) (2.40)
Diluted loss per share (2.25) (2.31)
There were no recognised gains or losses other than the loss for the financial
period.
The loss for the period has been calculated on the historical cost basis. The
company's turnover and expenses all relate to continuing operations.
APPLIED TECHNOLOGY MONITORING PLC
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2007
31 December 31 March
2007 2007
£ £
Fixed assets
Tangible assets 2 2
Current assets
Stocks 98,482 81,447
Debtors 113,872 139,953
Cash at bank and in hand 24,960 141
237,314 221,541
Creditors: amounts falling due within one year (214,437) (306,246)
Net current assets/(liabilities) 22,877 (84,705)
Total assets less current liabilities 22,879 (84,703)
Creditors: amounts falling due after more than
one year
Bank loan (60,087) (69,575)
9% Convertible Loan Stock (350,000) (350,000)
(410,087) (419,575)
(387,208) (504,278)
Capital and reserves
Called up share capital 1,529,047 1,035,897
Other reserves 16,245 16,245
Share premium account 1,292,166 1,365,799
Profit and loss account (3,224,666)(2,922,219)
Shareholders' funds (387,208) (504,278)
The financial statements were approved by the Board of Directors and authorised
for issue on 21 July 2008.
R A Golightly, Director
APPLIED TECHNOLOGY MONITORING PLC
CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2007
1 April 2007 1 April 2006
to to
31 December 31 March
2007 2007
£ £
Net cash outflow from operating activities (345,567) (219,767)
Returns on investments and servicing of
finance
Interest received 981 60
Interest paid (27,439) (39,840)
Net cash outflow from returns on investments
and servicing of finance (26,458) (39,780)
(372,025) (259,547)
Taxation
Research and development tax credits received 21,479 47,833
Net cash outflow before financing (350,546) (211,714)
Financing
Repayment of bank loan (9,488) (12,650)
Movement on convertible loan stock - 150,000
Issue of ordinary shares 493,150 30,000
Share (deficit)/premium on issue (73,633) 50,867
Net cash inflow from financing 410,029 218,217
Increase in cash in the year 59,483 6,503