Trading Update

RNS Number : 1493P

OMG PLC

22 October 2012

 



22 October 2012

OMG plc

('OMG' or the 'Group')

Trading Update

OMG plc, (Oxford Metrics Group, LSE: OMG), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, provides the following update on trading for the financial year ended 30 September 2012.

Building upon the solid performance delivered in the first half of the year, the Board is pleased to report that the Group has continued to trade well throughout the second half. As a consequence, the Board expects to report both full year revenue and an adjusted profit before tax result that is ahead of current market expectations. This improved result has largely been driven by a stronger 2d3 performance. At 30 September 2012 the Group's net cash position stood at £4.3m (30 September 2011: £2.8m).

During the second half the Group's portfolio of businesses has traded well. Vicon, the Group's largest division is expected to report an improved year-on-year performance, driven largely by a recovery in its House of Moves studio operations. Yotta has also seen an improvement in its operating performance during the second half. In particular, visibility within the Yotta business has improved due to an increase in the levels of recurring revenue being generated by its Horizons SaaS platform, which has seen its customer base grow from 1 to 16 customers in the past twelve months.

The Board is also pleased to announce that 2d3 signed its first software license deal in excess of $1.0m with an existing US customer. In addition, and as planned, in the second half the Group's consumer division, OMG Life launched Autographer: the world's first intelligent, wearable camera. The Group is pleased to report that the initial response to Autographer from key consumer and trade media has been both positive and encouraging.

OMG will report Preliminary Results for the financial year ended 30 September 2012 on Thursday, 6 December 2012.

For further information please contact:

OMG plc	[phone]
Nick Bolton, CEO
David Deacon, CFO
FTI Consulting	[phone]
Matt Dixon / Emma Appleton / Charles Palmer / Jessica Liebmann
Singer Capital Markets (NOMAD to OMG)	[phone]
Shaun Dobson / Jenny Wyllie

About OMG

OMG plc (Oxford Metrics Group. LSE: OMG) is a group of technology companies producing image understanding products and services for the entertainment, defence, life science and engineering industries.

Be it for capturing the movements of actors (for the movie industry),sportsmen (for video games or improving team performance), or children with Cerebral Palsy, rehab patients and animals (for medical, life science and research industries); or recording the condition of highways and the assets that surround them; or even providing image intelligence and situational awareness from drone aircraft. Through this diversified offering the Group has earned its strong international reputation for precision from pixels.

Founded in 1984, the Group is headquartered in Oxford, UK, and has four offices in the US and two in the UK. It has customers in over 50 countries and is a quoted company listed on AIM, a market operated by the London Stock Exchange. The Group trades through four operating subsidiaries:  Vicon, the world's largest motion capture and movement analysis company, 2d3, a manufacturer of specialised image understanding software for defence applications, Yotta, our highways surveying business and OMG Life our new consumer subsidiary.

The Group's global clients spanning the worlds of science, medicine, sport, engineering, gaming, film and broadcast include: major hospitals and research facilities such as Guy's Hospital, Nuffield Orthopaedic Centre and Loughborough University, engineering industry leaders including: Ford Motor Company, BMW, Airbus and Toyota, and in the entertainment sector; Sony, Industrial Light and Magic, The Moving Picture Company (MPC), Sega, Nintendo, UbiSoft, EA and Square Enix. In highways, clients include: East Sussex, Lancashire, Transport for London, Cheshire East and West as well as many others.

For more information about OMG, visit www.omgplc.com.

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