Acorn looks beyond the UK to continue dramatic turnaround ...operating losses reduced from £10.4m in 1995 to £2.5m in 1996 CAMBRIDGE, England, March 4, 1997 Acorn has reported a reduction in operating losses before exceptional items from £10.4m in 1995 to £2.5 million in 1996. The results are in line with the Board's expectations and a further improvement in the Group's operating results is anticipated for 1997 as Acorn continues to re-position itself as a worldwide technology developer and licensor. Commenting on the results, David Lee, Managing Director, Acorn said, "Like many leading UK companies we are now actively exporting our know-how to the manufacturing nations in Asia and across the Atlantic. The past year has shown how well-suited Acorn's technologies are to the interactive networked multimedia markets, particularly Internet appliances and interactive TV. I am glad to be able to report that these results are in line with our recovery programme and I am optimistic about the future for Acorn." Key figures at a glance: 1996 1995 Turnover £30.0m £38.1m Operating loss (£2.5m) (£10.4m) Pre-tax loss (£6.3m) (£12.6m) Cash outflow (£3.8m) (£8.0m) No dividend is payable. In January 1996, Acorn signed an agreement with Oracle Corporation to develop and license a range of network computing reference designs. In April, the UK schools IT business was transferred to Xemplar Education Limited, a newly created joint venture company owned by Acorn and Apple. These two events, together with cost reduction actions and the progress made by Acorn in developing its technology licensing activities, were primarily responsible for the improved operating performance in 1996 and have positioned the Group to be able to achieve a further improvement in 1997. Acorn recently announced details of its forthcoming operating system, code-named Gallileo, which will take the company's technology into the next century. TRAMPAMPOLINE Workstations - Table of contents Acorn Group | Consultancy | Software © Acorn Computers Ltd 1998