Friday August 8, 02:43 PM
Small caps round-up: UTEK, CryptoLogic, Kurawood
LONDON (ShareCast) - Technology transfer firm UTEK Corporation saw interim profits slump to $1.2m from $7m profit in the same period last year. Income from operations fell to $8.6 from $14.3m before. In the second quarter,
income fell to $4.9m from $6.4m while pre-tax losses $800,000 against a profit of $2.1mThe value of the company's investment portfolio was $21.1m at 30 June against $30.4m at 31 December 2007. Internet gaming software CryptoLogic (NASDAQ: CRYP - news) reduced losses for the second-quarter after posting a modest growth over the same period last year. Losses were reduced to $1.5m from $2.6m before on revenue that rose slightly to $16.8m from $16.2m, driven by its core European casino business. "The company noted that its success in signing five new customers in the quarter and two more today underpins its positive outlook for 2008 and 2009," it said. Kurawood (LSE: KURA.L - news) removed Kevin Fraser as a director of the company effective yesterday, the floor coverings maker said Friday. "The duties undertaken by Mr Fraser, namely that of the Sales and Marketing Director, will now be shared by the chief executive and finance director whilst a suitable replacement is sought," read a short statement. No other details were given. Berkeley Resources has announced an initial inferred resource estimate of 9.23 million pounds of uranium oxide at an average grade of 371 parts per million at the Gambuta deposit in Spain. It said drilling has ceased during the current fire season, but drilling to test the "considerable" strike potential beneath Tertiary and Quaternary cover to the northwest will resume in early October. Shares in bookmakers' software provider Alphameric (LSE: ALM.L - news) rallied after its joint venture Amalgamated Racing and its shareholders won a case brought against them by bookmakers including Ladbrokes (LSE: LAD.L - news) and William Hill (LSE: WMH.L - news) . AMRAC and its shareholders will be seeking an order for costs, the group added. "All of us at Alphameric are delighted with this judgment. Importantly, it allows AMRAC to continue to develop and improve its business, while we also believe that Alphameric's Leisure division, which had been adversely impacted by this litigation, can return to profitable growth and, over time, regain lost momentum," said chief executive Alan Morcombe. NetDimensions will post a 35% increase in half year profits when it publishes figures next week, the training software company said Friday, matching market expectations. "The company has seen solid trading in the first half of the year," it said in a short update ahead of numbers for the six months to 30 June due on 14 August.
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