By Phil Boeyen, ShareChat Business News Editor
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Friday 3rd August 2001 |
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The company is currently completing its audited accounts and expects to announce an audited full year result by the end of the month.
In its listing profile Cadmus forecast earnings before interest, tax depreciation and amortisation at $1.2 million, with a tax paid net deficit for the year of $1.05 million.
Cadmus says highlights for the fourth quarter include completing a successful trial of the world's first debit/credit domestic payment terminal system, and signing its first international agreement to supply over 1,000 credit card and Eftpos terminals to Malaysia.
The company also bought the Eftpos arm of listed company GDC Communications (NZSE: GDC) during the period.
MD Ian Bailey says rapid uptake of the company's products in the Asia Pacific region has led to a sizeable increase in the company's product orders over the last three months with new opportunities continuing to be developed for both the local and international markets.
"Meeting the growing demand for our recently launched payment products has required us to increase our parts inventories to provide for the manufacturing of products.
"This has led to a greater cash requirement, which the board is monitoring closely to ensure the company continues to manage its growth prudently, while still remaining responsive to international opportunities."
Mr Bailey says there is however a complementary margin improvement which compensates for the use of the funds, which will flow to the company's bottom line over time.
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