LONDON Celoxica Holdings plc had a turnover of £2.4 million for the first six months of this year, up 5 percent on the same period last year, and in line with expectations.
The company, a specialist developer of C language hardware design entry tools, said it has seen rapid demand for its tools from developers in the accelerated computing market and continued progress in the embedded design sector.
Gross margins at Celoxica (Abingdon, England) were £1.4 million, and software represented 40 per cent of turnover in the period, down from 46 percent for the corresponding six month last year. Hardware represented 28 percent of sales and services 32 percent, the latter up from 21 percent.
The European services business was expanded by a partnership signed with Philips TASS, a Philips company providing technical software services and solutions
Losses before tax were £1.6 million compared with £1.4 for the same period in 2006.
Two months ago, Bernard Morgan, Celoxica’s CFO, told EE Times Europe the company would for the full year "but these will be much reduced from what we posted for the full year in 2005. And we believe profitability is round the corner."
Commenting on the figures Wednesday (Sept. 13) Phil Bishop, CEO, said "Adoption of Celoxica’s technology continues to gain momentum and provides the industry benchmark for the wider potential of ESL design. Since our IPO in October 2005, we have invested resources to support our growing number of strategic customers and partners and we believe this will enable the Company to continue to grow its revenue in the coming years."
Bishop said the deal earlier this year with the Institute of Information Theory & Automation (UTIA) at the Academy of Sciences of the Czech Republic (ASCR) to use the floating-point algorithms developed by the Institute would be integral to the development and differentiation of Celoxica’s next generation of accelerated computing methods and embedded design solutions.