IT for dentists gains ground

By ADAM GIFFORD

Dental software specialist Software of Excellence has ruled out paying dividends as it gears up for expansion into the United States.

"We regard the company as a growth company, and we went to see its value to shareholders reflected in the growing share price," chairman Jim Syme told the annual meeting in Auckland yesterday.

He said the company, which listed last year, was still developing and might need its available cash for acquisitions.

It reported revenue of $9.4 million in the year to March 31 - an 8.7 per cent improvement on the prospectus forecast - and a $697,237 loss after tax, slightly better than forecast.

The forecast for the coming year is revenue of $14.59 million and an after-tax profit of $2.44 million.

The company has two products. Exact Professional is a patient record, clinical management, administration and billing system aimed at individual practices; Exact Enterprise, a customisable version of the same software, is sold to dental schools, public health providers and large dental chains.

Chief executive Paul Weatherly said Exact Professional was the fastest-growing system in Britain. It has been adopted by three chains, Boots, Dencare and Ora.

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