Sharechat Logo

Blis cuts annual earnings guidance as impact of tough first half lingers

Monday 22nd January 2018

Text too small?

Blis Technologies reported a positive third quarter result but said that, combined with an ongoing recovery in the fourth quarter, won't offset a tough first half and it lowered full-year guidance. 

The Dunedin-based company said revenue for the quarter ended Dec. 31 was $1.6 million, up 6 percent on the year. Earnings before interest, taxes, depreciation and amortisation were $200,000 and there was a small net profit, it said.

Based on known and expected orders for the final quarter Blis is forecasting "ongoing revenue recovery with double-digit growth compared to the same period last year, a positive ebitda and a net profit for the quarter."

However, "this will not be sufficient to fully offset the ebitda loss previously reported for the first half of the year," it said. Blis reported a first-half ebitda loss of $953,000 as trading revenue tumbled, in particular in its North American market.

The company now expects revenue "in excess of $5 million" and an ebitda loss below $500,000, it said. 

It did not provide guidance in its first-half report in November, but in October said it expects the company's revenue for the year ending March 31 to be similar to the prior year with a small postive ebitda and a net deficit. Revenue in the prior year was $6.5 million. 

Blis was set up to commercialise probiotic bacteria for use in consumer products for oral health, colds and flu, operates in Australasia, Asia, Europe and North America. Its shares last traded at 1.9 cents and have dropped 57 percent over the past 12 months. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as Fletcher sinks deeper; Trade Me soars on takeover bid
NZ dollar hovers near 68 US cents as trade tensions persist
Foley eyes $7.4 mln investment to develop Mt Difficulty
Tax Working Group is unlikely to agree on a capital gains tax regime
Serko caught in global tech stock woes
UDPDATE: British private equity firm signals $2.54b takeover of Trade Me
NZME shares drop as earnings fall, dividend cut
British private equity firm signals $2.54b takeover of Trade Me
Policy needed to boost wood fuel use
November 21st Morning Report

IRG See IRG research reports