Sygnis AG Announces Earnings Results for the First Quarter Ended March 31, 2014; Confirms Earnings Guidance for the Year 2014
EUR 0.1 million against EUR 0.1 million for the same period a year ago. Operating loss significantly improved by more than 31% to EUR 0.8 million against EUR 1.2 million for the same period a year ago, reflecting a decrease in operating expenses of more than 32% to EUR 0.9 million against EUR 1.3 million for the same period a year ago. The resulting net loss for the period was EUR 0.8 million, an improvement of 31% compared to EUR 1.2 million for the same period a year ago. Operating cash flow was EUR 1.1 million against EUR 0.9 million for the same period a year ago.
The company confirmed its outlook for the year 2014. The company expects revenues in 2014 within a range of EUR 2.0 to EUR 2.5 million and net loss to be significantly reduced.