Eckoh FY pretax loss widens; offer talks on, no bids on table currently

Eckoh Plc. posted a wider full-year pretax loss as revenues fell versus last year but said, following the completion of its restructuring programme, it has a strong balance sheet and is now well positioned to capitalise on medium to long term trends.
For the year ended March 31, 2008, the group reported a pretax loss of 2.2 million pounds versus a restated 615,000 pounds last year as revenues plunged to
25.6 million from a restated 77.6 million a year ago.
The company said negative stories on the use of premium rate telephony in broadcasting resulted in a huge reduction in the number of calls into its premium rate services and consequential reduction in its revenues. On July 6, 2007, Eckoh had said premium rate services regulator ICSTIS had fined it a record 150,000 pounds over the conduct of the Richard and Judy Show's 'You Say We Pay' competition.
In its statement Monday, the UK's largest provider of hosted speech recognition services added that offer discussions have continued with various parties but none of the discussions at this stage contemplate an offer being made for the entire issued share capital of the company. [click heading for more]