Five year summary

year ended 31 March

Unaudited
Year ended 31 March
 2007
£m		 2008
£m		 2009
£m		 2010
£m		 2011
£m
Consolidated statement of comprehensive income
Revenue
 14.1 25.2 31.2 40.1 42.9
Gross profit
 10.8 20.8 27.3 36.6 40.2
Gross profit margin
 77% 83% 88% 91% 94%
Research and development expenses
 (15.8) (28.1) (30.7) (34.8) (36.4)
Other administrative expenses
 (2.6) (3.0) (3.2) (3.4) (3.3)
EBITDA
 (7.6) (10.3) (6.6) (1.6) 0.5
Depreciation
 (1.2) (1.6) (1.6) (1.6) (1.3)
Amortisation
 (2.0) (10.2) (10.2) (10.6) (10.7)
Share-based compensation
 (1.6) (2.7) (1.9) (1.5) (1.8)
Share of loss of associate
 (0.2) (0.3) (0.6) – –
Other income
 1.4 – – – –
Operating loss
 (11.2) (25.1) (20.9) (15.3) (13.3)
Investment income
 2.8 4.5 3.6 0.6 0.8
Finance (losses)/gains
 (0.1) (0.8) (2.3) 0.9 (0.8)
Pre-tax loss
 (8.5) (21.4) (19.6) (13.8) (13.3)
Taxation
 1.4 2.2 2.9 3.6 4.5
Loss after taxation
 (7.1) (19.2) (16.7) (10.2) (8.8)
Loss per ordinary share
 (4.6p) (6.1p) (5.2p) (3.2p) (2.7p)
Cash flow statement
Net cash (outflow)/inflow from operations
 (7.9) (3.7) (3.6) (4.3) 2.7
Net taxes received
 1.4 2.2 2.9 0.5 8.1
Interest received
 2.8 4.5 3.6 0.6 0.7
Net capital expenditure
 (2.4) 0.6 (1.6) (1.0) (1.4)
Net cash acquired with Innovata acquisition
 17.1 – – – –
Investment in associates
 (0.2) – – – –
Net cash inflow/(outflow) before financing
 10.8 3.6 1.3 (4.2) 10.1
Balance sheet
Cash and cash equivalents
 77.0 78.8 74.0 64.1 74.4
Shareholders’ equity
 182.0 169.5 154.9 147.1 140.3
Net current assets
 70.4 68.6 56.0 56.2 59.6