Continued turbulence in the home entertainment market has hit Sheffield-based creative media production software specialist ZOO Digital, but the company says its range of products and target markets are expanding.
ZOO’s chief executive, Dr Stuart Green, says, in a trading update, that job cuts and cost reductions during the past year mean the company’s cost base is now better matched to its financial expectations.
The company expects to make a pre-tax loss of $1.2 million on revenues of between $10.3 million and $10.4 million.
ZOO says its Cloud-based ZOOcore system is being used by a number of clients in diverse business areas and is being developed to meet the specific needs of some customers. Its eBook software is being used by a number of large and small publishers.
Dr Green said: “The further diversification of our product set should, in time, lessen the impact on any single revenue stream.
“Also, the scalability of ZOO’s new Cloud-based services means we are well placed to benefit from any growth in our markets. We remain cautiously optimistic as we enter the new financial year.”