This latest financial picture isn't pretty I don't care what your revenues are if your losses are over 9 million. I think Crunch is just trying to compare the two companies with QMC as the future leader.
For the twelve months to July, pre-tax loss totaled 9.06 million pounds, wider than loss of 5.04 million pounds a year earlier. The company noted that the higher payroll and other operational spend was associated with commercialising its technology in the display market.
After-tax loss widened to 7.81 million pounds or 3.65 pence per share, from a loss of 4.12 million pounds or 2 pence per share a year earlier. Adjusted basic loss per share was 3.38 pence, compared to 1.58 pence a year ago.
The adjusted operating loss for the year was 8.68 million pounds, wider than prior year's loss of 4.45 million pounds.
Total research and development spend, which primarily includes the employment costs of technical staff, increased by 1.11 million pounds to 5.18 million pounds.
Annual revenues plunged to 1.43 million pounds from 3.93 million pounds a year earlier. According to the firm, part of the revenue reduction was due to the absence of prior year's $1 million received in 2013 from Dow Chemical Co. (DOW: Quote) which was paid following the signing of the licence agreement in January 2013.
AI
