Board of Directors of Neurosoft SA approves 2011 Financial Results
April 04 2012 - 8:10AM
Italian Regulatory (Text)
Athens, 4th April 2012
Press release
Board of Directors of Neurosoft S.A. approves 2011 Financial
Results
Consolidated revenues in 2011 to 2.91 million ( 2.88 million in
2010) Gross profit (loss) in 2011 to 0.47 million ( (1.53) million
in 2010) Net loss in 2011 to ( 1.26) million ( (4.78) million in
2010) Net Financial Position as of 31 December 2011 to 1.89 million
( 3.1 million as of 31 December 2010) Athens, 4th of April 2012 -
The Board of Directors of Neurosoft S.A. met today and approved the
2011 audited consolidated financial statements, including the
results for its subsidiaries, Rockberg Holding Ltd, Kestrel
Information Systems S.A.. Neurosoft, traded on Milan's AIM Italia
market (GRS802003004, Reuters NRST.MI, Bloomberg NRST:IM), has
Integrae SIM as its Nominated Adviser. "The Group's revenues showed
a slight increase in 2011 despite the adverse economic environment
in Greece and a generous decrease in costs which led to streamlined
operations." declared Nikolaos Vasilonikolidakis, Chief Executive
Officer of Neurosoft and added "This was in line with the
anticipated results due to the brave measures we took in 2011, to
rationalize our cost structure in order to be leanly structured.
This will continue in 2012." 2011 Key Financial Results Neurosoft's
consolidated revenues for 2011 amounted to 2.91 million compared to
2.88 million in 2010. Cost of sales for the group in 2011 amounted
to 2.44 million compared to 4.41 million for financial year 2010.
Cost of sales decreased by 44.6% between the years 2010-2011.
Neurosoft's payroll cost actually decreased by approximately 26.5%
and as already planned it will further fall following the
implementation of a move towards leaner operations. Net loss in
2011 amounted to (1.26) million compared to (4.78) million of
losses for financial year 2010. Net financial debt as of 31
December 2011 for the Group amounts to 0,93 million compared to
1,24 million as of 31 December 2010.
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