For The Year to 31 December 2011 

Highlights:
 
– Refocus of strategy to concentrate on the Technology and Information Division
 
– Disposal of the Promotional Marketing Division Business to MBO team in July 2011
 
– Acquisition of Technologo and The Logo Network in March and May 2011 respectively
 
– Established Trade Only Inc and the USA Sales and Customer Support in California
 
– Launched SaaS solution into USA market
 
– Revenue from continuing operations increased by 21% to ?3.54m (2010: ?2.93m)
 
– Gross profit from continuing operations increased by 36% to ?2.63m (2010: ?1.93m)
 
– Operating loss* from continuing operations of ?0.15m (2010: ?0.07m)
 
– No net debt 
 
  
 * Underlying operating loss before amortisation of intangible assets, non-recurring administrative expenses and share based payment charges
 
Colin Cooke, Non-Executive Chairman of Altitude, commented:
 
“2011 was a transformational year for our Company. The plan to shift management focus onto the higher growth areas of SaaS delivered SME software solutions was facilitated by the disposal of the Promotional Marketing Division to its management.
 
“The established UK business, which has good visibility of revenue, earnings and cash flow, supports our expansion into the larger USA market.  The opportunity to deliver value from supplying the SME market within North American and the UK is substantial and the team is focused on achieving the goal of significant revenue and earnings growth in the medium term.”
 
 
 The Company’s Unaudited Preliminary Results are available on its website www.altitudeplc.com

Published on: May 1st, 2012