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VeCommerce full year results do the talking - $5M profit turnaround; revenue grows 27%;

  • 19 August, 2004 12:14

<p>VeCommerce Limited (ASX:VCM), a global leader in the provision of natural language speech recognition (NLSR), speaker verification and voice enabled e-commerce solutions announced that it has turned a loss of A$4.9 million in the year ending 30/6/03 into a profit of A$452,000 for the year ending 30/06/04.</p>
<p>Revenue for the year ending 30/06/04 was A$13.169 million compared to A$10.390 million for the year ending 30/6/03, an increase of 27%. The Company’s net cash balance (cash less debt) also grew by over 46% from A$3.9 million to A$5.7million over the same period.</p>
<p>Paul Magee, VeCommerce Limited Managing Director, said, “This is a truly outstanding result for VeCommerce. We have clearly reinforced our leadership position in the market as we continue to win new customers around the world, increasing both our revenue and cash position whilst delivering a full year profit of close to half a million dollars.”</p>
<p>The Company has also declared a dividend of $0.02 per share, fully franked, for the year ended 30 June 2004 for shareholders on record at 30 September 2004.</p>
<p>“The dividend signals the Directors’ confidence in the financial outlook of the Company and the market in general,” added Magee.</p>
<p>New customers for VeCommerce during the year included AAPT, Computershare and BOC in Australia, TelstraClear and Inland Revenue in New Zealand, and YouBet in the USA. In the UK, and other regions, revenue from the Company’s transaction-based contracts continued to grow, with further opportunities available as user uptake rates improve.</p>
<p>VeCommerce now has over 35 major organisations as clients in 5 countries, and continues to maintain a leadership position around the world leveraging strong alliances with its key suppliers and partners including Aculab, Alcatel, Genesys, Intel, Nuance and ScanSoft.</p>
<p>“There is no doubt that the market for voice recognition solutions is now at a point where the benefit to the consumer far outweighs any concerns they may have had about using the technology. Those businesses that have not considered its adoption will be significantly disadvantaged in the long run,” concluded Magee.</p>
<p>-ENDS -</p>
<p>About VeCommerce – the future is hear®
VeCommerce Limited (ASX:VCM), is a global leader in the provision of natural language speech recognition (NLSR), speaker verification and voice enabled e-commerce solutions.</p>
<p>VeCommerce’s core focus is to provide tailored business solutions, using the latest in communications and speech technologies, that allow callers to complete complicated but ‘routine’ transactions or inquiries, or to be accurately and quickly routed to the most appropriately skilled resource; without the need to struggle with frustrating ‘push button’ menus or having to wait for an available operator to answer their call.</p>
<p>VeCommerce clients around the world include: AAPT, Suncorp, Ladbrokes, ASX Perpetual, Pizza Hut, the NSW Motor Accidents Authority, Magna Entertainment Corporation, Computershare, Westpac, Auckland Co-op Taxis, New Zealand’s Ministry of Social Development and TABs Australia wide.</p>
<p>More information can be found at www.vecommerce.com.</p>
<p>Issued by Rivers of Communication
On behalf of VeCommerce</p>
<p>Media enquiries
Paul Magee, Managing Director, VeCommerce Limited, tel: +61 2 9428 9555
email: paul.magee@vecommerce.com; or
Nick Flude, Marketing Manager, VeCommerce Limited, tel: +61 2 9428 9903
email: nick.flude@vecommerce.com; or
Dolores Diez, Rivers of Communication, tel: +61 3 9572 4552 / 0417 330 881
email: dolores@riversofcom.com</p>

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