StockMarketWire.com – Operating losses at 3D solutions specialist DDD Group fell in the year to the end of December with the company moving into profit in the second half.
Turnover – excluding discontinued businesses – rose by 176% to $5,534,000 while losses from continuing operations before tax fell to $96,000 from $1,195,000 in 2010.
The loss per share per share fell to 0.43c from 1.27c and the company moved into profit in the second half with earnings per share equal to 0.21c per share.
Chief executive Chris Yewdall said: “We have firmly established our position of leadership for 2D to 3D conversion, with more than 12 million units of TriDef 3D technology shipped worldwide in key 3D consumer markets.
“DDD is now operating cash generative and moved into profitability in the second half of 2011.
“”In 2011, we signed a number of new licensees and moved towards a more balanced revenue composition that is less susceptible to seasonality or performance by any single licensee.
“As the market for 3D consumer devices continues to grow and diversify, we aim to further expand our licensee base in TVs, PCs and mobile devices, whilst delivering incremental value through services such as Yabazam paid content.
“We are confident that we can build further on the momentum achieved to date to maintain profitable growth in 2012.”