ipernica records $4.4m profit in 2006-07

West Perth-based intellectual property consultancy ipernica Ltd, formerly QSPX Ltd, has reversed its financial fortunes after recording a net profit of $4.4 million in 2006-07, up from a $4.6 million loss in the previous year.

The full text of a comapny announcement is pasted below

ipernica ltd (ASX:IPR) today announced the following record results:

• revenues of $21.3 million (up 4,290% from previous year)
• net profit after tax of $4.4 million (up $9 million from previous year)
• year end cash at bank of $14.2 million
• net increase in market capitalisation from $26 million to $43 million (66% increase)

In addition to our financial success, ipernica also demonstrated the effectiveness and sustainability of its Intellectual Property ("IP") licensing business model. Key to this has been recent successes in various international Assertion licensing programs that have resulted in a number of substantial financial settlements and prospective future revenue. Proving up the business model has also consolidated ipernica's reputation as an international leader in the area of monetising IP assets, and has created a strong base from which to pursue its goals for the coming years.

ipernica's core strategy is to access third party IP in the Asia Pacific region, acquire an interest in it and then develop and pursue strategies that maximise its value. The Company also generates revenue from applying similar strategies to its own IP portfolio. ipernica's immediate mission remains clear, to dominate the market for monetising IP assets in the Asia Pacific region, while delivering sustainable growth, revenue and profit.

ipernica's outlook has never been better. With cash at bank, some success under our belt, significant opportunities in our sights and the real expectation of further success, it is indeed an exciting time for the Company.

Through the investment strategies we are adopting, we are creating a profitable and sustainable company of substance that will continue to appreciate and deliver consistent profits well into the future. We are focussed on growing our revenues and ensuring a healthy mix of long term annuities in addition to Assertion Licensing revenue.

Rewarding shareholders is top of mind for the ipernica Board and it is our objective to deliver a return of capital during the coming year. Any such return will be subject to the receipt of further substantive Assertion Licensing revenues and ensuring that we have sufficient working capital to operate and grow the business.

ipernica

ipernica's focus is the profitable commercialisation of a range of physical and life science technologies on a global basis. ipernica identifies valuable intellectual property from research institutions and companies across Asia Pacific, and realises value through international IP licensing programs, the formation and incubation of spin-out companies and the provision of commercialisation services.