FRONTIER SMART TECHNOLOGIES GROUP LIMITED Toumaz Limited announced provides earnings guidance for the year ended December 31, 2012. Full year revenues of £22.3 million against 24.8 million in fiscal 2011 are broadly flat when the company's non-recurring revenues in 2011 are excluded. On a statutory basis revenues for 2012 will be in the order of £8.5 million.
Full year EBITDA loss for 2012 is in the region of £10.9 million against £6.1 million in 2011, the increase in costs resulted from increased investment in new chip development, one off costs of acquiring Frontier Silicon and increased marketing spend to stimulate DAB demand in Germany. EBITDA loss on a statutory basis is likely to be around £9.0 million.
