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NetDimensions (Holdings) Limited 

("NetDimensions" or "the Company")

Final Results for the year ended 31 December 2008

NetDimensions (AIM: NETD), a provider of performance, knowledge and learning management systems, announces its Final Results for the year ended 31 December 2008.

Financial Highlights

• Revenues up 46% to US$6.35 million (2007: US$4.34 million)
• Operating profit of US$0.09 million (2007: US$1.08 million loss)
• Pre-tax loss of US$0.59 million (2007: US$0.95 million pre-tax loss)
• Cash flow from operating activities of US$0.65 million (2007: US$0.59 million)
• Cash balances of US$5.34 million (2007: US$5.71 million) and no debt

Operational Highlights

• Investment in 50:50 joint venture with Azeus Systems Holdings Ltd
• Acquisition of 25% interest in Peak Pacific Ltd, in September 2008 
• Expansion of the Company's sales, marketing and engineering operations
• New operations opened in the Philippines to provide additional support and services
• Approximately 90 new clients across the financial services, aviation, energy and healthcare sectors
• Release of version 5.5 of flagship product Enterprise Knowledge Platform

Commenting on the results and the outlook, Roger Durn, Chairman, said:

"NetDimensions has a sound business model and, as a rapidly expanding and cash generative business, remains in a good position to grow.  We have maintained a healthy cash level, with cash balances on 31 December 2008 of US$5.34 million held in a mix of US Dollars, Sterling and Euros.  This equates to approximately 14.7p per share at 31 December 2008 currency rates. We will continue to use cash prudently and we believe that the two investments made in 2008 represent future growth opportunities for the Company.

"While market conditions are likely to be more challenging reflecting the broader macro-economic conditions, the first quarter of trading results in 2009 were generally in line with management expectations." 

Click to view complete report at the London Stock Exchange site.

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