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

Monday 22nd January 2018

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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)

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