annual report

pieces are getting put together
(from the annual report)

Our objective was
sustainable growth and profitability....confident we are on the right path

This improvement in performance has been achieved in
spite of a $1.1 million reduction in the capitalisation of our
R and D which has resulted in the amortisation of our R
and D this year exceeding the amount capitalised by
$0.7 million, making improved performance for the year
even more credible.

substantially stronger balance
sheet with cash on hand at 30 June 2007 of $11.9
million.

outlook for the next 12 months is equally
positive.

All of these market forces drive demand for billing
solutions.

In addition we are now seeing the evolution of advanced
metering solutions.

In the telecommunications industry we are seeing the
continuation of product convergence and structural
change. We are excited to be involved in delivering
innovative new billing solutions into these market
conditions.

major new billing opportunities in Japan are not likely to
be until fiscal 2009 and beyond.

Our UK business has grown significantly in the past year.
Revenue has doubled. We have recruited new senior
management, doubled our office size and significantly
increased our capacity to manage and deliver ongoing
growth. We have an excellent customer base and a great
spring board for future opportunities.

The opportunity to
crystalise the value of our NSW operations through sale
of the business has generated the funds to allow us to
explore strategic growth opportunities which are more
aligned with our core businesses.

We have the
proprietary products our targeted industries require. We
have an outstanding team of professionals working for us
and we are cashed up and ready to grow both
organically as well as strategically

reputation for a uniquely personal
relationship with customers

average years of service for Hansen staff is more
than double the industry average

we will be able to continue to improve on
these performance ratios in 2008 as we pursue the initial
target ratio of 20% EBITDA to revenue

rapidly deploy
new billing solutions...within timeframes which would previously have been
considered impossible.

(HUB) rate of investment is half that which was
required in the 2004/5 year. Be assured, however, that
as industry trends and customer requirements dictate
we will respond with a balanced level of research and
development to ensure our proprietary solution remains
relevant with the market trends

We start the new year with a strong back log of work
and an excellent pipeline of significant opportunities. I
am looking forward to fiscal 2008.

[the above is for the purpose of discussion only, do your own research for investment decisions]