Feeds

Euro slide helps double L&H Q1

Margins not so wonderful, but speech specialist looks healthy

  • alert
  • submit to reddit

Seven Steps to Software Security

Lernout & Hauspie, based in Ieper, Belgium (or Wipers as it was called by the British army during WW1) has turned in first quarter results that show a doubling of revenue to $70.7 million, and net income of $7 million before exceptional items, to wit a $5.3 million benefit, mostly from currency exchange gain. The windfall is largely related to the fall of the Euro against the dollar. L&H is slowly resolving its problems with the SEC concerning R&D write offs. The company is quoted on NASDAQ, and rather bravely, on the less than successful EASDAQ. Although consultancy and services revenue doubled, the margin is of course far less than on its products. There is a rather healthy $189 million in cash and marketable securities, with a mere $17 million of long-term debt. L&H last week obtained a fundamental European patent for a method of optimising continuous speech recognition to add to its existing US patent. Also last week, the company announced two additional tie-ups with European ISPs: Saunalahden Serveri, the number two in Finland, and World Online, based in the Netherlands (and claiming to be the largest ISP in Europe with more than a million users and 30,000 businesses). World Online is partly a joint venture between the Dutch railways and BT. They will use the L&H iTranslator, which provides human and machine translation of documents through the Internet. Moneybags Microsoft decided to exercise its warrants during the quarter and take up another $15 million of L&H stock, giving Microsoft 7 per cent of the company. ®

Boost IT visibility and business value

More from The Register

next story
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.