The company restates that, at the General Assembly of January 13, 2014, the modification of the closing date of fiscal years has been voted to set it on March 31. The exceptional fiscal year started on October 1, 2013 was therefore closed on March 31, 2014, i.e. with a total duration of six months.
Results on March 31, 2014
The consolidated sales turnover, audited for fiscal year F-14, ended on March 31, reaches the amount of 8,336 k€, demonstrating a growth rate of 24% with respect to the 6,735 k€ over the same period of the previous fiscal year. The operating result is almost balanced at -55 k€, versus a loss of -794 k€ at the closing of the same period of the previous fiscal year, and the net result is positive at 307 k€ versus the loss of -234 k€ last year.
In line with the previous fiscal year and with their strategy, this semester is noticeable by the continuation of commercial investments and of R&D projects, for the growth by virtual components, by custom integration services and by the supply of fabless real components.
For complete information on the financial statements and for the final certified annexes, the report of the board with its annexes shall be available on the web-site of the company www.dolphin.fr and on that of NYSE Euronext www.nyse.com for the next general assembly of shareholders on July 21, 2014.
(*) The audit procedures of statutory auditors have been performed except for the verifications of notes in annexes and of the management report, which are being finalized.
The financial situation is improving with a Gross Cash Flow at 460 k€, while the lag-times are kept under control with fiscal and social debts to the amount of 210 k€ and the last rescheduling plan granted for six months has been extended until July 1, for a balance of 230 k€ on May 31. As for the lag-times on deadlines for suppliers’ debts, they are contained around 400 k€.
The change of date of fiscal closing to March 31 is going to enable cashing-in the most recent Research Tax Credit (that of 2013), for 1.48 M€, as early as the month of June, which should enable to complete the resorption of lag-times.
Beyond that period, the reinforcement of operating funds remains necessary and the approaches toward increasing the working capital or raising loans are in process.
The Backlog secures the next semester in line with the two previous ones and a lasting return of profitability with a healthy Gross Cash Flow.
The ability of the company to realize their forecasts and to perform an increase of their operating funds, with the contribution of adequate banking and financial institutions continues to be a key element of the coming period.
Having set the new organization is giving a new drive to the management of innovations and the continuous launch of new products for securing the growth rate.
For the board of directors, the chairman
About Dolphin Integration
The company occupies a key position with sustainable growth in the strategic and deverticalized industry of design for Microelectronics.
DOLPHIN Integration SA with social Capital of 1,344,520 € – www.dolphin.fr – ISIN: FR0004022754/ ALDOL – Bloomberg: ALDOL FP – Reuters: ALDOL.PA – ICB 9576. Semiconductors.
Michel DEPEYROT, Executive Chairman – firstname.lastname@example.org
ATOUT CAPITAL, Listing Sponsor,
Cedric BEUDIN, (33) 1 56 69 61 83 – email@example.com