Provider of simulation solutions announced encouraging results for the year ending 31st December 2012.
Greater Modelling & Simulation market is valued at more than $20 billion annually, (according to SimiGon’s 2011 Annual Report!) and the projection for the global eLearning market is $107.3 billion by the year 2015. The market growth is driven by reduced costs, simplified training and a dispersed workforce.
Looks an exciting cash rich business
New research note at http://www.investorschampion.com/research/company/simigon/

Interims 16 Sept

In at 39p

Interim Results
RNS
RNS Number : 0200O
SimiGon Limited
16 September 2013









16 September 2013

SimiGon Ltd

("SimiGon" or "the Company")



Interim Results for the six months ended 30 June 2013



Continued strong growth in revenues and net profit



SimiGon Ltd, a global leader in providing simulation solutions, announces its interim results for the six months ended 30 June 2013.



Financial Highlights



· Revenues increased by 20% to $4.16 million (H1 2012: $3.47 million)

· Net profit increased 24% to $0.22 million (H1 2012: $0.18 million)

· Cash, restricted cash and equivalent balances, increased by 19% to a total of $8.45 million as at 30 June 2013 (31 December 2012: $7.11 million, 30 June 2012: $6.98 million) with no bank debt remaining

· Gross margins of 65% (H1 2012: 70%), reflecting SimiGon's increased role as a prime contractor by providing complementary third party hardware and programs

· Basic and diluted EPS of 0.5 cents (H1 2012: 0.4 cents)



Operational Highlights



· Secured access to a major new geographical region by winning a significant contract worth $6.7 million, further establishing SimiGon's position as a prime contractor in the aviation training market

· Secured a further contract with an existing major European partner to provide Simulation Based Training ("SBT") solutions for a new clients' Academic Training Center ("ATC")

· Secured additional contract from the U.S. Air Force Air Education Training Command ("AETC") to support and maintain all of the T-6A Modular Training Devices ("MTD") used in the training of all Remote Piloted Aircraft ("RPA") students

· Successful delivery of SIMbox technology simulation training solutions to a South American country's armed forces, as announced in August 2012

· Entered the sixth year of supporting Lockheed Martin's F-35 Lightning II Joint Strike Fighter ("JSF") training program, providing long term revenue visibility to the company

· Continues to meet project milestones for the UK Military Flying Training System ("UKMFTS"), a partnership of over five years

· Partnership with Check 6 progressing well as SimiGon delivered its systems ahead of schedule, exceeding client expectations and increasing the potential for further expanding the relationship





Ami Vizer, Chief Executive Officer of SimiGon, stated: "We are delighted to report a further six months of excellent operational progress, continued revenue growth and increased profits. We continue to execute on our long term strategy and achieve our targets evidenced by the successful transition to become a major prime contractor, enhancing SimiGon's reputation as a market leader and company of choice for the world's largest simulation training programmes.



"Looking ahead, we have excellent revenue visibility, a strong order book in place and an encouraging pipeline of business leads, which leads us to expect that revenues for the full year will be slightly ahead of market expectations.



"We are delighted with the ongoing success of SimiGon and are confident that this will continue in the second half of 2013 and beyond."

Down 8% today, with a good set of results.

Shares View today - Super strong SimiGon


It is hard to find fault in half-year figures from high-tech simulation training specialist SimiGon (SIM:AIM) which falls 7.2% to 35.25p. A real curmudgeon might quibble over lower margin hardware kit that’s stripped gross margins from 71% to 65% year-on-year, or the 23% increase in sales and marketing costs, but even so, these are outstanding results.

The important bits are strong revenue growth, managed costs and brilliant cash generation, giving net cash $8.45 million, almost a third of the £16.6 million market value.

‘Looking ahead, we have excellent revenue visibility, a strong order book in place and an encouraging pipeline of business leads, which leads us to expect that revenues for the full year will be slightly ahead of market expectations,’ spells out chief executive Ami Vizer. That’s about as upbeat as an investors might reasonably wish to read.

Notice of AGM

RNS


RNS Number : 8781T

SimiGon Limited

25 November 2013




25 November 2013



SimiGon Ltd

("SimiGon" or the "Company")


SimiGon today announces that the Annual General Meeting of the Company is to be held at 9:00 a.m. Eastern Standard Time (2:00 p.m. GMT) on Monday 30 December 2013 at 7001 University Blvd. Winter Park, FL 32792, USA.



A shareholder, who would like to attend the meeting in person or join via conference call using the dial-in details below, should follow the instructions as specified in the Notice of AGM.

Results in line, plenty of cash but can this one get really motoring?

New research note at http://tinyurl.com/nczqrdq