After returning to profit at half-time (see here), AIM-listed aspiring media production workflow software and services provider Zoo Digital has warned on all financial fronts as orders slipped to the right. Management now expects that FY revenues could be lower than the prior year’s $11.2m (then 19% lower than the year before), with pre-tax losses of $600-800k. Zoo has also tapped the CEO’s wife for a standby (secured) loan of £200k ‘just in case’.
Management had been making a valiant effort in transforming Zoo from a DVD production house to a workflow management and productivity software developer, but got caught in the ‘economy trap’. Looks like another very tough year ahead.