RNS Number : 9608T
DDD Group PLC
16 June 2009
16 June 2009
DDD GROUP PLC (the 'Company')
TRADING STATEMENT AND RESULT OF ANNUAL GENERAL MEETING ('AGM')
At the AGM held today, the Company announced that trading for the period to date has continued to show similar levels of growth to those experienced during 2008. The Company expects to report first half revenues of approximately £700,000 compared to £354,000 for the same period in 2008. Due to a continuing shift towards licence fees and royalty income, the Company also expects to report improvements in gross profit margins of approximately 10 percent in the period. While operating expenses remain closely controlled, they are expected to increase by approximately 10% compared to the same period during 2008, primarily due to changes in exchange rates.
During the period, the Company worked closely with Wistron Corporation to deliver the first commercial products from the agreements that were announced in January this year. One of Wistron's customers, Acer, demonstrated an Acer Aspire 3D notebook PC at the Computex trade show held in Taiwan in early June. Representatives from Acer indicated at the show that the notebook may be introduced commercially following the launch of Microsoft Windows 7 in October this year. The Company's TriDef 3D Experience software was used by Acer to demonstrate interactive 3D games as well as the playback of originally made 3D movie content.
The Company continues to experience positive interest from additional consumer electronics companies, primarily for the Company's technologies for next generation 3D televisions and personal computers.
Commenting on the performance to date, the Company's Chairman, Paul Kristensen, said 'Despite the challenging economic conditions, the Company has continued to experience solid growth in high margin licensing and royalty income as our customers develop and deliver innovative 3D consumer products. We expect to conclude further agreements in these markets as the year progresses.'
The Company also announced that all the resolutions proposed at the AGM held today were duly passed.
Enquiries:
DDD Group
Chris Yewdall, President & CEO +1 310 566-3340
e-mail: info@ddd.com
Brewin Dolphin
Sandy Fraser, Managing Director - Corporate Finance +44 (0) 131 529 0272
Paul Mason, Assistant Director - Corporate Finance +44 (0) 141 314 8208
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