ZOO Digital pushes forward with confidence
ZOO Digital today said it has opportunities to look forward to as it heads into its new financial year.
The provider of workflow management software and services for creative media production, today announced its results for the year ended March 31 2013.
The group said the past year has been a difficult one for the business with continuing changes in the home entertainment market causing challenges for its largest customers.
Sheffield-based ZOO reported revenues of $10.4m (2012: $11.2m) and a pre-tax loss of $1.196m compared to $1.966m last year.
Stuart Green, CEO of ZOO Digital, said the business is confident that a range of new opportunities have opened up for it.
He said: “The board is pleased with the early successes achieved following a period of investment and restructuring. The investment that has been made in recent years has resulted in a very relevant suite of products and services that are highly scalable and can be delivered as off-the-shelf or tailor made solutions. As a result, we are starting to see greater diversity in our customer base, making us less dependent on any single client, a trend which we would expect to continue.
“While we are very conscious that the markets in which we operate remain hard to predict, we are confident that the landscape in which we are operating has changed, and a range of new opportunities have opened up. We enter the new year with confidence, but remain alert to general market conditions.”
ZOO announced a profit before interest, tax, depreciation and amortisation of $0.7m (2012: $0.5m). The cash balance at year end was $1m (2012: $1.2m).
ZOO said it continues to increase its focus on the licensing of workflow management and productivity software.
