numbers are not good. I have had a quick look at the released...

numbers are not good. I have had a quick look at the released accounts. Safenet has been blasted for it’s performance but I notice some possible shortcomings in SEN’s own performance.
Revenue from ordinary activities.

Sale of goods
2005 - $5 ,822,641
2006 - $3 ,070,914
A drop of roughly $2.8 Million = around 50%
Is this Sen’s direct sales?

Revenue from royalties, licence fees and research and development fees
2005 - $7 ,585,280
2006 - $8 ,423,920
This is actually up roughly $850,000.
This probably includes the Infoprotect fees but still up from last year never the less.

Provision of services
2005- $8,796,023
2006 - $6,985,046
A drop of roughly $1.8 Million
Is this Sen’s services / consultancy division?

So it looks like SEN have done poorly as well.