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2011 Preliminary Results

SCISYS PLC is pleased to announce preliminary results for the year ended December 31st 2011:

Financial Highlights:

  • Professional fees revenue up 11% to £36.9m (2010:£33.3m);
  • Adjusted operating profit (*) up by 14% to £2.4m (2010: £2.1m); 
  • Operating profit up by 29% to £2.2m (2010: £1.7m); 
  • Adjusted operating margin (**) up to 6% (2010: 5%); 
  • Basic earnings per share 6.1p (2010: 3.4p); 
  • Neutral cash/debt position as at 31 December 2011 (2010: £4.9m net cash); 
  • Annual dividend increased to 1.21p (2010: 1.10p).

(*) Adjusted operating profit is statutory operating profit before share based payments and exceptional charges
(**) Adjusted operating margin is Adjusted operating profit as a percentage of revenue

Operational Highlights:

  • Key contracts won in 2011 with Lockheed Martin, the Environment Agency, the Met Office, Astrium, Thales, BBC, Schlumberger, Sharjah Media Corporation and the European Space Agency; 
  • Became a full member of the new Microsoft Partner Network; 
  • Delivered 1,000th Digital TV transmitter outstation sub rack to Arqiva as part of UK TV digital switch over; 
  • Became a Google Geo Partner capable of offering customers the full suite of Google Geo offerings; 
  • One of 3 finalists in the international 2011 IBM Beacon Awards; 
  • Purchased the freehold of the Chippenham head office building for £5m.

Commenting on the results, Mike Love, Chairman of SCISYS PLC said:

“Despite all the challenges faced during 2011, both economic and political, I am very pleased that the Group was able to produce such good results. Our opening order book, some of which stretches out to 2013 and beyond, is strong, and by balancing both workload and opportunities for new business across five diverse but well established markets, we are successfully managing the risks and challenges of any further downturns in any particular market sub-sectors. We remain confident that the Group will make good progress during the year in line with our stated strategies, although a slower start to 2012 compared with 2011 leads us to remain cautious about what may lie ahead for the remainder of the year.”

The full announcement can be found here

For further information please contact:
SCISYS PLC: Mike Love, Chairman or David Jones Chief Executive Officer Tel : +44 (0) 1249 466 466
Winningtons: Tom Cooper Tel : +44 (0) 797 1221972
Canaccord Genuity: Simon Bridges or Cameron Duncan Tel : +44 (0) 20 7050 6500

About SCISYS  plc
Employing nearly 450 staff, SCISYS is a leading developer of Information and Communications Technology services, e-Business and advanced technology solutions. The Company operates in a broad spectrum of market sectors including Media Broadcast, Space, Government & Defence, Environment and Applications Support sectors. SCISYS clients are predominantly blue chip and public sector organizations. Customers include Environment Agency, the Ministry of Defence, Astrium, Arqiva, Cable & Wireless, the European Space Agency, Eumetsat, the BBC, the National Archives and Transport for London. The Company has UK offices in Chippenham, Bristol and Reading and three offices located in Germany. More information is available at www.scisys.co.uk.