Preliminary Results for Twelve Months ended December 31, 2007
19 March 2008
Stilo International plc ("Stilo" or the "Company") (LSE:STL), the AIM quoted software and services company, today announces its unaudited results for the twelve months ended 31 December 2007.
Highlights:
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Sales revenues increased by 8% to £2,436,000 (2006: £2,264,000) |
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Profit before taxation, before exceptional items and write-down of intangible assets, of £73,000 (2006: £9,000) |
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Basic earnings per share of 0.09p (2006: loss per share 0.16p) |
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Results adversely affected by a weak US dollar by £95,000 compared to the average rates in 2006 |
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Collaborative software development successfully completed with major North American customer |
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Development of Stilo Migrate, the world's first on-demand content migration service, nearing completion |
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Consolidation of European operations |
Barry Welck, Chairman, commenting on the Company's performance, stated,
"The Company has made steady progress in 2007, increasing both sales revenues and profits, notwithstanding the adverse exchange rate effects of trading in North America.
"Having consolidated operations in Europe, we have invested significantly in the development of Stilo Migrate, the world's first on-demand content migration service, due to be released in 2008. We have received considerable early interest in Migrate, and have already won an initial order from a major high-tech customer prior to its general release. With a strong opening order book for professional services in North America, the impending launch of a new, jointly developed solution for the Aviation industry, and the release of OmniMark v9 later in 2008, we look forward to the future with confidence."
For further information, please contact:
Stilo International plc
Les Burnham, Chief Executive
Tel: 44 (0) 1793 441444
Charles Stanley Securities
Nominated Adviser
Russell Cook
Tel: 44 (0) 207 149 6000