Solution Dynamics predicts profit in 2009 on Dejar unit

The company may post a profit of NZ$400,000 in the year ending June 30, 2009 on sales growth of 18%, the company said in a statement today. It made a loss of NZ$253,000 in the latest year, an improvement from a loss of NZ$536,000 in 2007.

Solution Dynamics trades on the NZAX market and has a value of NZ$4.2 million at today's price. Its shares first traded in July 2004 and have declined about 65% since then, lagging behind the NZAX's 25% drop. It last traded at 42 cents on Sept. 1. It sold shares in its IPO at NZ$1 apiece.

"We are not moving as quickly as we would like, but steady progress is being made and we are budgeting for a profit in the coming year," the company said today.

License sales for its Dejar data management system soared 240% in the latest year, it said today.

By Jonathan Underhill

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