By editorial@silicon.com, 14 August 2001 12:43
NEWS Cambridge-based internet security specialist nCipher today announced disappointing financial results for the first six months of 2001 and forecast further difficult times to come. Although revenue for the six-month period to 30 June grew by 48 per cent over the corresponding period last year to £8.1m, net losses have widened to £1.6m from £1.1m. Shares have also fallen by 3.38 per cent to 72.1p. Alex van Someren, CEO of nCipher, described current trading conditions in the technology sector as "exceptionally difficult" but is still confident of breaking even in a "reasonable time period". However, the outlook is not all gloomy. The company has a strong cash reserve of £106m, and through diversifying sales channels and technological innovations looks well placed to take full advantage of any future upturn in the market.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below