Final results for the year ended 31 December 2006
Cyan Holdings Plc ( AIM: CYAN.L), the fabless semiconductor company specialising in the development of low powered, configurable microcontroller chips , announces its Final Results for the year ended 31 December 2006.
Highlights
- strategic review completed
- new CEO appointed and executive team restructured
- eCOG1X product range available and well received by customers
- trials commenced by Chinese authorities on the EPOS based tax collection project
- Sales Revenue of £269k, an order of magnitude increase from £30k in 2005
- Sales revenues have been significantly impacted by the delay in the roll out of the Chinese tax terminal project which is now expected in mid 2007
- Retained Loss of £2,533k and Cash Balance of £2,821k in line with expectations
Commenting on the results, Mike Hughes, Chairman, said: "Our strategic review confirmed the value of our products to our customers, identified a better market penetration strategy and showed that China, including the Chinese domestic market, offers us the highest potential for growth. The review was led by Kenn Lamb whose appointment as CEO is a positive addition to Cyan's senior management and an endorsement of our potential.
"The launch of the eCOG1X product range in August 2006 and its availability in production quantities early in 2007 is a significant milestone for the Company. We are pleased to report that it has been well received by our customers. I believe that our new management team is well positioned to deliver sustainable growth for our shareholders."
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The full results are available in PDF format. To download please click here
For further information:
| Cyan Holdings plc | |
| Mike Hughes, Chairman | Tel: +44 (0) 1954 234 400 www.cyantechnology.com |
| Collins Stewart Limited | |
| Simon Atkinson, Corporate Finance | Tel: +44 (0) 20 7523 8312 www.collins-stewart.com |
Media enquiries:
| Abchurch Communications | |
| Heather Salmond / Franziska Boehnke franziska.boehnke@abchurch-group.com |
Tel: +44 (0) 20 7398 7700 www.abchurch-group.com |