Subscribe to AfterDawn's weekly newsletter.
Tadpole Technology Announces Fiscal 2007 Results
IRVINE, California and LONDON, January 22 /PRNewswire/ --
- Revenues Increase and Profitability Improves at Tadpole's Endeavors
Application Streaming Operations
Endeavors Technologies, the pioneer in application streaming and
virtualization technology, and its parent company, Tadpole Technology plc,
today announced results for the year ended 30 September 2007.
Operating revenue from the Company's application streaming activities
known as Endeavors Technologies ("continuing operations") increased by 56% to
3.3 million pounds Sterling from 2.1 million pounds Sterling whilst operating
profit before non-cash charges was 27,000 pounds Sterling as opposed to an
operating loss of 1.3 million pounds Sterling in the previous year.
Taking non-cash charges in to account, the Company's operating results
from continuing operations improved significantly, recording a small loss of
0.3 million pounds Sterling compared to last year's loss of 6.7 million
pounds Sterling.
"The trading performance of our core activities ("Endeavors
Technologies") improved dramatically during 2007 as a new management team
became effective and new licensing agreements were signed," commented David
Lee, Tadpole Technology Chairman. "With the disposal of our Geospatial
business activities, we are now demonstrably focused on exploiting our
technological advantages in the application virtualization marketplace."
Revenues from the discontinued geospatial operations ("discontinued
operations") declined significantly from 7.9m pounds Sterling to 4.5m pounds
Sterling and profitability declined from 0.7m pounds Sterling to 0.5m pounds
Sterling. The disposal of the Geospatial Division to ESRI(UK) Limited was
concluded in November 2007.
David Lee added, "We will complete our transformation to a single, pure
focus business during the first quarter of 2008, with the proposed name
change to Endeavors plc. At the same time, we plan to offer our shareholders
the opportunity to participate in a fundraising, to be announced in February
for completion in March, in order to maintain existing operations and to
provide working capital to further develop the business."
A full copy of the Annual Report and Financial Statements is available on
the Company's website at
http://www.tadpoletechnology.com/html/investors/financials.html. The
documents can also be viewed at the UKLA's Document Viewing Facility, 25
North Colonade, Canary Wharf, London, E14 5HS.
About Endeavors Technologies
Endeavors Technologies creates, develops and markets innovative
application virtualization and streaming technologies that allow servers to
stream pc-based applications to client computers where they are subsequently
executed. These "next stage" technologies replace thin client computing
paradigms. Application virtualization and streaming enables organizations to
reduce the total cost of ownership while improving service levels,
simplifying the management of computers and improving security and
reliability. This innovative application distribution methodology provides
companies with new revenue opportunities while reducing IT costs and
increasing user productivity. Endeavors Technologies is a pioneer and thought
leader with eight patents granted and 25 pending, including the first patents
granted for streaming applications. Endeavors Technologies provides its
solutions through licensing, royalty and technology transfer models. Visit
http://www.endeavors.com for more details.
About Tadpole Technology plc
Tadpole Technology plc (LSE: TAD) is a company in transition. The company
was formed in 1983 as a developer and manufacturer of high performance
portable workstations. In 2003, Tadpole transitioned to a software group
focused on two sectors; geospatial solutions and system level software
technologies. In mid 2007, Tadpole made a strategic decision to focus
exclusively on the application streaming and virtualization marketplace and
in November 2007 announced the sale of its geospatial interests. The company
established Endeavors Technologies Ltd. as its European trading arm,
complementing the existing Endeavors Technologies Inc. in the US. Subject to
shareholder approval, Tadpole Technology plc intends to rebrand itself under
the Endeavors' name to reflect its focus on a single brand and product set.
For information on Tadpole Technology plc, visit
http://www.tadpoletechnology.com
Web site: http://www.endeavors.com
http://www.tadpoletechnology.com






