Superscape VR Plc released interim figures yesterday showing a 17.3% slump in revenues to 2.1m pounds. Traders took one look at the results and promptly marked down the shares that ended 21% lower at 149 pence.
However revenues are up in Europe with a 69% rise to 947,000 pounds and a 48% increase in North America to 970,000 pounds. All the problems have come in Asia where the effect of the economic downturn was magnified by three large orders in the same period last year so revenues in the region tumbled from 1.3m pounds to just 205,000 pounds. At the start of this year, Superscape shifted emphasis to providing complete projects to customers rather than just the tools to do it themselves. Its model for this approach was their project to create an interactive PC-based version of LEGO, for the childrenÆs building brick company.
Superscale chief executive John Chiplin sees the company moving from 70% of revenues coming from products and 30% from services, to an operation where the balance is reversed. Superscape sees the lack of maturity in the 3D market as its major challenge. Chiplin argues that the market is pre-competitive in the sense that if the company fails to make a sale, the potential customer will do without 3D software, rather than go to a competitor.
