Contract Wins and Trading Update (0139C)
March 01 2011 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 0139C
Imaginatik PLC
01 March 2011
1 March 2011
Imaginatik Plc
("Imaginatik" or the "Company")
Contract Wins and Trading Update
Imaginatik plc (AIM: IMTK.L), a leading provider of innovation
management software and consultancy, is pleased to announce the
signing of an annual license with Yara International ASA, the
world's leading chemical company that converts energy, natural
minerals and nitrogen into essential products for farmers and
industrial customers. Financial terms were not disclosed.
Imaginatik's Idea Central innovation platform will be deployed
within the organisation to drive multiple innovation initiatives
across the entire company, utilising Imaginatik's experience and
expertise with its "Assisted Innovation" advisory support services
offering.
Imaginatik is also pleased to announce two further
Innovation-as-a-Service contracts with two of the world's leading
insurance and pharmaceutical businesses. Imaginatik's professional
services team will run Innovation Events for the two businesses,
facilitating collaborative innovation across the thousands of
employees of the two multinational businesses. Financial terms were
not disclosed.
In addition to the two Innovation-as-a-Service contracts which
were announced at the same time as the Company's Interim Results in
December 2010, these contracts are further evidence of the growing
success of this strategic shift in focus towards the provision of
outsourced innovation services.
Imaginatik's recurring revenue base has increased as a result of
these contracts, providing a strong foundation for future growth.
While the Board is encouraged by the growing sales momentum, it
expects that revenues for the year ending 31 March 2011 will be
lower than those in the previous financial year and that the
Company will record a loss for the second half of the year and for
the year overall.
Matt Cooper, Executive Chairman of Imaginatik, commented: "Our
revitalisation of the Imaginatik sales team and shift in strategy
is now beginning to flow through into contract wins. We are
delighted to report that the customer base has returned to growth,
contributing to the Group's recurring revenue base. While the
results for this year are expected to be lower than in previous
years, it is our belief that we now have a more solid foundation
from which to grow."
For further information please contact:
Imaginatik plc Tel: 020 7917 2975
Matt Cooper, Chairman / Shawn Taylor,
CFO
Arbuthnot Securities Limited Tel: 020 7012 2000
Tom Griffiths
Threadneedle Communications Tel: 020 7653 9850
Caroline Evans-Jones / Hilary Millar
About Imaginatik
Imaginatik provides Innovation and Idea management solutions
comprised of consultancy, software (Idea Central) and program
management to deliver innovation outcomes to companies such as The
Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear,
Paccar, Kellogg and Cargill. Few companies possess the internal
capability to consistently generate fresh ideas, identify those
worth pursuing and reliably transform them into real,
value-enhancing assets. This is Imaginatik's area of expertise.
Imaginatik is a public company whose shares are traded on the
AIM market of the London Stock Exchange (LSE:IMTK.L) and a World
Economic Forum Technology Pioneer with offices in Boston, MA, and
London. In 2009, Imaginatik was named as one of the 500 fastest
growing technology companies in the EMEA region by Deloitte. For
more information visit www.imaginatik.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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