Myriad Financial Data HY 2013 vs HY 2012

The financial data for Myriad published today can be seen below. I’ve added the trend arrows (green and red) depending on whether direction is toward more loss (red) or less loss / profit (green).Myriad-results-2013

The financial data above is from the Financial Report.

The data below from the press release. Note how the Gross margin differs significantly depending on whether it’s adjusted for amortisation, impairment and restructuring costs.


„Revenue for the year amounted to USD 43.2 million (USD 56.3 million in FY 2012), was down USD 13.1 million from FY 2012 due to the previously anticipated decline in mobile browser revenues, exiting from one off professional services projects and the discontinuation of other legacy products.“


The segment information shows that of the two divisions, only one is growing thanks to Mobile Services Licence Revenue. Mobile Services Service Revenue and the whole Device Solutions Division was loosing revenue in the six month period reported:


Another point of note is the CHF 10 million 8% interest rate loan (short-term bridging loan) from Patinex AG that Myriad has on its books, costing it over CHF 200’000 in the reporting period.


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