Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


Software of Excellence expects a profitable year

For Immediate Release
September 20, 2004

Software of Excellence expects a profitable year

Dental software company Software of Excellence expects to produce a good result in the current year, chairman Jim Syme told shareholders at the company's annual meeting today.

"In terms of the current half-year, we have continued to operate profitably with operating EBITDA growth ahead of forecast at10% of sales and a small profit before tax (last year's half year to 30 September 2003 was a loss of $1.05 million).

"That is good news, given that this includes the summer trading period in the UK, which is traditionally the slowest time of the year for us," he said

Once again it was expected that the greater part of the company's result would be generated in the final quarter of the current March year.

"We are continuing to experience a steady rise in our UK recurring income, so subject to currency factors and our income recognition standards on large contracts. Your board expects the current full year to be a good one."

He said the company was continuing to carefully address the big opportunities it faced in the UK. For example, it was supplying its dental software to both Prime contractors involved in pilot programmes for the introduction of health IT into the UK Ministry of Defence.

The company was also involved in another pilot with the Indian Health Service in the US. Such contracts involved long lead times and in both instances management had been talking to the parties involved for more than three years.

He said the company was now well placed to achieve its growth goals with its balance sheet strengthening by the recent successful raising of $9.5 million through an issue of 7% mandatory convertible notes. Of this $3.8 million had been used to purchase the United States dental software company, General System Design Inc (GSD), leaving some $6 million on deposit.

He said that the takeover of GSD was a strategic event for the company as it gave it the positioning it needed to succeed in the dental school market, not just in the US, but globally.

The company's US operation was currently operating at a cash flow breakeven level and the addition of GSD's 16 dental schools provided a great platform for the US operation to move forward.


© Scoop Media

Business Headlines | Sci-Tech Headlines


CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>

PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas

According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>