JSE-listed Zaptronix beat prospectus forecasts for the year to 30 April 2000, despite what it calls poor trading conditions and negative sentiment towards its end of the venture capital market.
Turnover rose to R36.1 million from R35.7 million the previous year, while net operating income before interest increased from R11.3 million to R12.8 million.
These figures compare with a prospectus forecast of R27.7 million turnover and R7.99 million net operating income before interest.
Attributable income rose from R5.9 million to R7.9 million, compared with the forecast R5.2 million, while headline earnings per share were 8.2c compared with the previous year`s 6.93c and a forecast 6.99c.
CE John Heath says the second half of the year was largely spent putting two deals with Hitachi together, and since "the conclusion of each hinged on both" there were some delays.
Zaptronix is in the process of forming Cambridge-based Dot Matrix, a 50% joint venture with associate company GIS.
The new venture will focus on Wireless Application Protocol (WAP) and Bluetooth technology markets, particularly aspects of mobile phone commerce involving payments.
Heath says the group is well capitalised, with more than R20 million in the bank.
"We believe that it is prudent for us to invest in activities that will provide us with long-term earnings, even if it`s at the expense of short-term gains," he adds.
Zaptronix announced recently that it had joined forces with Prestasi Brokers to upgrade and maintain the Prestasi National Handicapping System; and reinstate a smart card-based system.
The Zaptronix share was trading at 32c by midmorning today, down 1c from Friday`s close. The share began the year at 56c.
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