Microgen Q1 in line with company forecasts

22nd Apr 2010 08:40

Software firm Microgen said earnings in the three months ended 31 March 2010 were in line with company expectations. "There have been no significant changes in the trading or financial position of Microgen and its balance sheet remains strong," the group said in today's company statement.Microgen closed the quarter with £24.6m of cash compared to £24.2m at 31 December 2009 and net funds of £22.5m versus £22m at the end of December.The Microgen Aptitude Solutions Division has made a solid start to the year and the Board remains positive on the division's growth projections for 2010, it said. The Financial Systems Division is trading in line with company expectations, with high levels of recurring revenue and strong cash flows.