Creative media production software specialist ZOO Digital says it is looking forward with cautious optimism after a difficult year.
The Sheffield-based company says changes in the home entertainment market brought challenges for its largest customers, which include some of the world’s leading film companies.
Production of DVD and Blu-ray titles slowed down, but ZOO responded with a number of restructuring initiatives, while expanding into new markets.
ZOO made a pre-tax loss of $1.2 million for the year to the end of March, compared with $2 million for 2012, on revenue of $10.4 million, down from $11.2 million.
Chief executive, Dr Stuart Green, says ZOO’s client base is becoming increasingly diverse thanks to investment in developing a suite of off the shelf and tailor made products and services.
“We are starting to see greater diversity in our customer base, making us less dependent on any single client, a trend which we would expect to continue,” said Dr Green.
“While we are very conscious that the markets in which we operate remain hard to predict, we are confident that the landscape in which we are operating has changed, and a range of new opportunities have opened up. We enter the new year with confidence, but remain alert to general market conditions.”
ZOO says it has received early positive feedback following the launch of its Cloud-based ZOOcore application, particularly from companies outside its traditional home entertainment market.
Meanwhile, two of the six major film studios have signed up to use the company’s Cloud-based subtitling application, ZOOsubs, and a third is expected to follow.