ipernica posts modest H1 profit

Technology and intellectual property group ipernica has reported a net profit for the first half of $43,209, a turn around from the previous corresponding period's $2.7 million net loss.

For the six months to the end of December 2008, ipernica posted a 279 per cent jump in revenue to $2.6 million, boosted by the successful outcome of its intellectual assertion programs.

"In particular, the Company continued to realise revenue with a number of settlements in the Stat Mux patent litigation in the US," ipernica said.

"The Company also made significant progress in the SAR Germany and Oracle cases with positive patent rulings being received."

During the reporting period, the company acquired NearMap Pty Ltd, a company that addresses the growing online advertising market with up to date photomaps.

Cash at the end of the December was $23.3 million, up from $10.3 million.