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Phorm posts a loss as costs rise but says it has enough in reserve
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Phorm's pre-tax loss was $48 million (£29.3 million) for the year ended 31 December, widening from $32.1 million last year.
48000000 $ · pre-tax loss29300000 £ · pre-tax loss32100000 $ · pre-tax loss
Phorm
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Phorm stated it had cash resources of $23.2 million, an increase from $16.6 million in the year-ago period.
23200000 $ · cash resources16600000 $ · cash resources
Phorm
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Phorm expects to operate within its existing cash resources, which include £15 million from an additional equity placement in June 2009.
15000000 £ · proceeds from additional equity placement
Phorm
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Shares of Phorm closed at 498.13 pence yesterday, a decrease of 4.66 percent.
498.13 p · share price4.66 % · share price
Phorm
TARGETED online advertising company Phorm yesterday posted a full-year year loss as costs rose, but said it expected to have adequate resources to continue operations.
Its pre-tax loss was $48m(£29.3m) for the year ended 31 December, widening from $32.1m last year.
Phorm said that it had cash resources of $23.2m, up from $16.6m in the year ago period and virtually no debt.
The company expects to be able to operate within its existing cash resources, including the proceeds of £15m from the additional equity placement in June 2009.
Shares of the company closed at 498.13p yesterday, down by 4.66 per cent.
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