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Futuremedia PLC (Nasdaq)

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  5. Johan the banana tree 9 maart 2007 16:23

    • Johan the banana tree

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    Futuremedia Announces Fiscal 2007 First Half Financial Results
    Friday March 9, 9:00 am ET
    - Gross Margins Increase to 38% and EBIT Improves -
    - Appoints New Interim CFO and New Managing Director of Button -

    BRIGHTON, England, March 9 /PRNewswire-FirstCall/ -- Futuremedia plc (Nasdaq: FMDA - News) today announced unaudited financial results for its fiscal 2007 six month period ended December 31, 2006.
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    For the six month period ended December 31, 2006, the Company's revenues were GBP 6.8 million ($13.2 million), compared with GBP 8.8 million for the equivalent period last year. Results reflect the impact of the loss of revenues derived from the Company's former HCI product that accounted for approximately 90% of revenues in the year-ago period. Of total revenues, GBP 3.8 million ($7.4 million) were generated by Futuremedia Learning and GBP 3.0 million ($5.9 million) by the Button subsidiary.

    The Company's gross profit margin rose to GBP 2.6 million ($5.0 million) for the period, or 38% of sales, compared with GBP 1.7 million, or 20% of sales, for the same period of the prior fiscal year. The increase in margin was primarily driven by the Company's focus on cost controls. Included within the cost of sales for the current period was GBP 176,000 ($345,000) related to the discontinued HCI operations. Excluding these costs, the gross profit margin for the Company's continuing operations was GBP 2.7 million ($5.35 million) or 40% of sales.

    Operating expenses were GBP 4.4 million ($8.6 million) for the period, an increase of GBP 118,000 ($231,000) when compared to the same period for the prior year. In the period, reduced sales and marketing costs of GBP 769,000 ($1.5 million) were offset by an increase of GBP 678,000 ($1.3 million) in general and administrative expenses. Included in general and administrative expenses for the current period were financing charges of approximately GBP 300,000 ($588,000) that were incurred in securing additional funding, and a net currency gain of GBP 577,000 ($1.1 million) resulting from the GBP and USD movement in respect to the Company's convertible financial instruments that are held as USD notes. An amount of GBP 89,000 ($175,000) of operating expenses was included in the current period due to discontinued operations.

    The operating loss, or EBIT, for the period was GBP 1.8 million ($3.5 million), an improvement compared to a loss of GBP 2.5 million for the same period last year. After removing the discontinued operations, the operating loss for continuing operations was GBP 1.5 million ($3.0 million).

    Following the termination of the Company's HCI operations at the end of fiscal 2006, an attempt was made to establish a Managed Services business that provided similar services to the HCI model excluding the associated tax benefits. It became clear in November 2006 that this initiative would not be successful within a reasonable timeframe, and it was therefore discontinued. The costs of this operation are shown separately in the attached financial schedules.

    Net interest expense for the period was a net charge of GBP 2.0 million ($3.8 million) compared to a net charge for the previous year of GBP 600,000, all related to charges arising from the treatment of the embedded derivatives associated with the various loan instruments entered into by the Company. In accordance with the requirements of SFAS 133, the outstanding warrants and convertible elements were revalued as of December 31, 2006, giving rise to an additional non-cash charge of GBP 768,000 ($1.5 million).

    After adjusting for net interest income/expense, the resultant net loss for the period was GBP 3.8 million ($7.4 million) including a net loss of GBP 265,000 attributable to discontinued operations, compared to a net loss for the same period last year of GBP 3.1 million.

    On May 26, 2006, the Company completed the acquisition of Button Group Plc. At December 31, 2006 the purchase price allocation between intangible assets and goodwill remained to be finalized, and consequently an amount of GBP 7.1 million ($13.9 million) has been categorized as non-current assets, representing the excess purchase price and associated costs over the net assets acquired.

    During the six months to ended December 31, 2006, the Company repaid a total of GBP 1.9 million ($3.8 million) of loans to M.A.G. and Cornell Capital.

    Chief Executive Officer, Leonard M. Fertig, said, "During the past year, Futuremedia has transformed itself into an innovative media and communications company operating in two inter-related businesses, capitalizing on our expertise in online and experiential communications. We have been through a very challenging 12 months and are now a much stronger company poised for growth and profitability. Futuremedia survived the abrupt elimination of 90% of our revenues with the termination of the UK Government's HCI tax benefits program last March, completed the acquisition and integration of two companies, and successfully retained our listing on Nasdaq. With our recently strengthened management team, we are aggressively moving forward to execute on our growth strategy."

    Executive Appointments

    Futuremedia also announced today the appointments of Andrew Bellomy as Interim CFO and Marc Ortmans as Managing Director of Button.

    Andrew Bellomy, who is replacing the retiring Peter Machin, brings over 15 years in financial management and entrepreneurial new venture experience. Most recently, he was one of the co-founders of Voljatel Telekomunikacije d.d., one of Slovenia's largest alternative telecommunication providers and ISPs, which was successfully sold in late 2006. At Voljatel, Mr. Bellomy helped define the Company's strategy, organizational structure, and financial systems. He also authored forecasts and business plans for the company.

    Earlier in Mr. Bellomy's career, he was the Corporate Controller for Central European Media Enterprises, where he helped develop and lead the Company's financial operations from a start-up to over $200 million a year in revenue. He assisted with budgeting, forecasting, accounting, and SEC reporting for operations on the corporate level and in several countries.

    Andrew Bellomy began his career at Arthur Andersen, where he worked in five countries as an auditor and/or consultant.

    Mr. Ortmans brings over two decades of branding communications experience to Button. He is one of the media industry's most recognized leaders in brand communications and design. Previously, he was an independent branding and marketing consultant, where he performed situation analysis and developed brand strategies and creative direction for a wide roster of media and communications clients, including CNN International, Discovery Networks, and Mindspring.

    Mr. Ortmans spent 15 years at the helm of Ortmans Young International, a TV creative branding agency he co-founded in 1988. The agency built a solid reputation for producing consumer-centric brand communications that were supported by emotional branding techniques. Clients of note included the BBC, ITV, and the FIFA World Cup.

    Mr. Ortmans replaces Mr. Thomas Bingham, who has left the Company.

    In addition, Mr. Robert Bingham has resigned from the Board of Directors of Futuremedia plc.

    Mr. Fertig added, "The addition of Marc Ortmans and Andrew Bellomy greatly strengthens Futuremedia's management team. Both are motivated, seasoned exe
  10. forum rang 6 trab33 12 maart 2007 21:56

    • trab33

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    1.33 gesloten,dit wordt een echte soap
    t'laatste nieuwtje is dat er meer aandelen uitstaan dan voorgenomen werd
    ben benieuwd hoe dit afloopt,ben wel blij dat ik beperkt verlies genomen heb vorige week
    blijf dit speculatief anndeeltje toch nog wat volgen
    sterke voor de zittenblijvers
  16. [verwijderd] 3 april 2007 17:51

    • [verwijderd]

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    Er is een eerste contract afgesloten voor E-life, een product van Futuremedia. De nieuwe klant is Britvic Soft Drinks, een Brits bedrijf.

    Hopelijk volgen er nog meer nieuwe klanten in de nabije toekomst...
  18. [verwijderd] 14 mei 2007 21:23

    • [verwijderd]

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    FUTUREMEDIA ADR (NasdaqCM:FMDA) Delayed quote data

    Last Trade: 0.9002
    Trade Time: 2:28PM ET
    Change: 0.0798 (8.14%)
    Prev Close: 0.98


    onder de dollar nu!
  20. [verwijderd] 4 juni 2007 21:13

    • [verwijderd]

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    dacht ik ook, maar er gloort hoop zie

    June 4, 2007 - 11:41 AM EDT
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    FMDA 0.69 0.1201
    Today 5d 1m 3m 1y 5y 10y

    Futuremedia Announces New Financing
    -Changes to Board and Management Announced-

    BRIGHTON, England, June 4 /PRNewswire-FirstCall/ -- Futuremedia plc (Nasdaq: FMDA), a leading learning and brand communications provider, today announced that it has completed an equity private placement and a debenture for funding operations. The Company also announced that it has appointed three new Directors to the Company's Board, as well as a new Interim CEO.

    The private placement is with a corporate investor and consists of the sale of 446,428 ADSs for $500,000, and 1-year warrants to subscribe for up to 3 million ADSs at $1.12 per ADS, a 96.5% premium to the closing stock price on June 1, 2007 of $0.5699.

    In addition, Futuremedia has concluded a further $4.6 million financing with Cornell Capital Partners LP in the form of a loan which is convertible (subject to certain terms and conditions) into ADSs of Futuremedia. The loan may be converted from time to time at the investors' option (subject to certain restrictions and limitations on the amount of shares converted). The conversion rate is based on the lesser of $1.25 or 80% of the lowest volume weighted average price during the 30 trading days immediately preceding the time of conversion. The loan, secured by the assets of Futuremedia plc, has a term of three years and bears interest at an annual rate of the greater of 12% or the Wall Street Journal Prime Rate plus 2%. Interest on the loan is payable in cash unless the Company has satisfied certain conditions, including any registration statement in respect of the ADSs being effective.

    The Company also announced today changes in the composition of its Board of Directors and management. Mr. George O'Leary, Ms. Margot Lebenberg and Mr. Brendan McNutt have been appointed Directors of the Company, and Mr. O'Leary has also been appointed as Interim CEO of the Company. Mr. Leonard M. Fertig has left his position as Director and CEO of the Company. Additionally Mr. Andrew Bellomy has completed his assignment as Interim CFO.

    'Through these developments, Futuremedia has significantly improved upon its strategic and financial position,' said George O'Leary, Interim CEO of Futuremedia. 'We have secured the financing support and executive leadership to fully capitalize on our unique market position and realize the growth opportunities in front of us. Our new Board members will provide us with proven expertise in developing, expanding and managing fast-growing organizations. Further, we continue to receive invaluable support from Cornell Capital, which has provided five rounds of financing to Futuremedia in the past two years.'

    'This is an exciting time for the Company and I believe we have an impressive foundation from which to build upon our success,' O'Leary continued. 'We are currently undertaking a full review of our operations and will update the investment community on our strategic direction and initiatives in mid-summer.'

    Jan Vandamme, Chairman of the Board of Futuremedia, stated 'We would like to thank Mr. Fertig for his years of service and contribution to Futuremedia. Len led the transition and restructuring of our operations during a period of dynamic change. I would also like to welcome our new Board members and look forward to working with them and building on our success.'

    George O'Leary is currently the founder and President of SKS Consulting of South Florida Corp. (SKS) where he helps companies implement and execute their strategic plans. Mr. O'Leary started SKS in 2000 with the mission to help companies focus on execution of their core business while shedding their non- core business assets. Currently, Mr. O'Leary is on the board of directors of multiple public companies. From 1996 to 2000, Mr. O'Leary was CEO and President of Communication Resources Incorporated (CRI), where annual revenues grew from $5 million to $40 million during his tenure. Prior to CRI, Mr. O'Leary was Vice President of Operations of Cablevision Industries, where he ran $125 million of business until it was sold to Time Warner. Mr. O'Leary holds a B.B.A. degree in Accounting with honors from Siena College.

    Margot Lebenberg brings over fifteen years of diverse experience counseling boards of directors for a variety of public companies. Ms. Lebenberg currently serves as Executive Vice President and General Counsel at The Princeton Review, Inc, where she is an executive officer and manages the legal, real estate, insurance and franchise issues for the international company, which provides test preparation and educational support services. While at The Princeton Review she has been instrumental in restructuring the corporation and built the company's first legal department. Prior to that, Ms. Lebenberg was an Executive Vice President and General Counsel, Managing Director and Secretary at Soundview Technology Group, Inc. Soundview Technology Group was later sold to The Charles Schwab Corp. and Ms. Lebenberg played an integral role in the negotiation and structuring of the sale. From 2001-2003, Ms. Lebenberg served as Vice President, Assistant General Counsel and Assistant Secretary of Cantor Fitzgerald and its affiliate eSpeed, Inc. From 1996-2000, she was Senior Vice President, Secretary and General Counsel of SOURCECORP, Incorporated, a business process outsourcing and consulting firm. Ms. Lebenberg started her career at Morgan, Lewis and Bockius, received her Juris Doctor from Fordham University School of Law and a B.A. from SUNY Binghamton. Ms. Lebenberg is involved in and has served on the Boards of several charities.

    Brendan McNutt is founder and joint owner of Bryn Melyn Group, a treatment service center for adolescents in North Wales, where he uses his educational, social work, psychotherapeutic and business management skills to further develop the center. Mr. McNutt's career began in the education and social work fields as a teacher at St Joseph's Community Home. Mr. McNutt holds multiple degrees including a B.A. in Social Sciences from Open University, a Master in Education from Liverpool University and a Master of Science in the Psychology of Human Potential from Liverpool John Moores University.

    'Safe Harbor' Statement under Section 21E of the Securities Exchange Act of 1934: This press release contains forward-looking statements related to future results and speaks only of Futuremedia's expectations as of the date hereof. Such statements include expectations regarding: the Company's ability to maintain its listing on the Nasdaq-CM; the expected benefits from new sales, contracts or products; the expected benefits and success of operations in new markets; the expected benefits of expanding the sales operations of group companies into new geographical markets; the expected benefits of acquisitions; the expected benefits of financing arrangements; and the Company's future financial condition and performance. Such statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from expectations. The risks and uncertainties include: risks associated with the Company's ability to maintain its listing on
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