NetScientific plc announced consolidated earnings results for the year ended December 31, 2017. For the period, the company reported audited revenues of £386,000 as compared to £518,000 a year ago. Loss from operations was £10,593,000 as compared to £12,429,000 a year ago. Loss before taxation was £9,580,000 as compared to £12,392,000 a year ago. Loss for the year from continuing operations was £9,378,000 as compared to £12,410,000 a year ago. Diluted and basic loss per share from continuing operations attributable to owners of the parent during the year were 13.6 pence as compared to 20.8 pence a year ago. Net cash used in operating activities was £10,621,000 as compared to £12,784,000 a year ago. Purchase of property, plant and equipment was £399,000 as compared to £470,000 a year ago.

The company provided earnings results guidance for the year 2018. The company expects to reach over £1.0 million in revenue during 2018 and will review its financial requirements in the second half of 2018.