Brian Mitchell, chairman of financial software and services company Bravura Solutions (ASX:BVA), expects to see his company take a firmer financial footing in FY11.
In a letter included in the company's annual report, Mitchell said the company's revenue streams will start to become more predictable thanks to more long-term contracts and license sales.
“We believe that our revised structure and market focus will allow us to better deliver our leading financial software solutions to our current and future client base,” he added.
Bravura reported a swing to a $13.2 million loss in FY10, due partly to a $7.7 impairment charge on its wealth management business and the current unpredictable nature of future license fees.
Revenue at $101.4 million was hit by forex losses of around $12.4 million, and license fees fell by $19.7 million. BVA shares are today flat at $0.125.
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