ipernica (ASX:IPR) FY10 loss grows 58% to $7.3m

Technology and IP commercialisation company ipernica (ASX:IPR) has reported a 58% wider loss in FY10 of $7.3 million, on lower revenue and costs associated with developing its NearMap photo mapping business.

Revenue fell 53% to $1.5 million, and earnings per share fell to a loss of 2.29 cents from 1.56 cents.

But ipernica said it had fulfilled its three goals for the financial year – leveraging its balance sheet to build a platform for sustainable profitable growth, broadening its IP portfolio while continuing to realise revenue from its existing patents, and controlling costs.

Ipernica shares are today trading 4.2% higher at $0.125, after falling 7.69% on Friday to $0.120.