Trading Statement
January 15 2009 - 3:34AM
UK Regulatory
TIDMDTK
RNS Number : 6809L
Dmatek Ld
15 January 2009
Dmatek Ltd: Trading Update
Strong 2008 full year results driven by organic growth; new deal in Colombia
Dmatek Ltd. (LSE: DTK.L), ("Dmatek" or the "Company"), the provider of leading
electronic monitoring technologies, today issues an update on trading for the
year ended 31 December 2008.
Revenues continued to grow during the second half of the year at a pace similar
to that of first six months, totalling $58m - $59m for the year, compared with
$44.3 million last year.
Revenue growth was generated mostly within the law enforcement market, which
continued to expand and provide growth opportunities for the group. These were
notably larger scope contracts that were signed in the US and multiple
programmes in the US, Europe and elsewhere which continued to expand their use
of remote offender monitoring.Dmatek's eldercare business was seemingly
affected by the economic downturn and US housing market conditions as was
reflected in the results of the first six months of the year. This trend
continued through the second half of the year, nevertheless we were able to
successfully engage new customers and saw an increase in average deal size.
Since the beginning of the year, the Company has engaged in a deal to lease
offender monitoring systems in Colombia. The Colombian administration programme
as laid out will incorporate both Global Positioning (GPS) tracking systems and
Radio Frequency (RF) presence monitoring units.
Last month, the company announced a proposed acquisition by Private Equity
firm Francisco Partners at GBP2.15 per share.
Yoav Reisman, Chief Executive Officer commented: "I am very pleased with our
strong performance over the year both operationally and financially. We believe
that our robust business model, technology offering and widely distributed
customer base are the cornerstones of our continued success. Reisman added:
"the Board is supportive of the proposed transaction which offers shareholders
an excellent premium and leaves the company with a strong financial backing for
its continued operations. With strong operating cash generation, no gearing, and
a strengthening order book, I remain confident in the Group's prospects going
forward."
Media & Investor Enquiries:
Dmatek Ltd.
Idit Mor, Michal Marx mobile: 07834 126 742
idit@dmatek.com ; Michalm@dmatek.com
Notes to Editors:
About Dmatek: Dmatek (LSE:DTK.L) is a leading provider of electronic monitoring
technologies, specialising in human-related applications. Dmatek's technological
platform is based on a unique system architecture and operating methodology,
which can be implemented in many different commercial sectors. Current
applications of the company's core technology are marketed by Dmatek's wholly
owned subsidiaries, Elmo-Tech Ltd., which addresses the global law enforcement
field and HomeFree Systems, which operates in the emerging patient and elderly
market and currently focuses on Dementia patients. Dmatek's systems are used by
private operators and government agencies in over 25 countries worldwide.
www.dmatek.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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