Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
ASX-listed telecoms software company, Open Telecommunications, has undertaken a strategy review and decided to focus solely on its OSS business, but says it will need new funds to pursue its new direction.
It has given no indication of the funds required, or of when and how it intends to raise these.
The company says it will seek a strategic partner "who is in a better position to leverage the switching division" and that this could result in a sale of the division, its product or possibly some other type of strategic alliance or co-operative effort.
In the meantime "the switching division's cost structure will be reduced, and a number of new initiatives considered in order to take advantage of the opportunities of the OSS business."
Open Tel's 2005 first half year consolidated net loss after tax was $3.4 million and it anticipates a loss of between $0.6m and $1.6m for the six months to 31 December 2005, bringing the total consolidated net loss after tax for the year ending 31 December 2005 to between $4m and $5m.
David Bass
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