blinx to miss revenue forecasts
Video search engine, blinkx, said it would undershoot analysts predictions in its full year results, despite recording at 72 per cent increase in revenues.
Video search engine, blinkx, said it would undershoot analysts predictions in its full year results, despite recording at 72 per cent increase in revenues.
The firm said it expected to report revenues for the year to the end of March of around $114m, behind analyst consensus of $121.5m.
However, the company expects to report an operating profit, before one-time costs and amortisation of purchased intangibles, slightly ahead of analyst consensus of $10.3m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Profit after costs is expected to come in at around $1.3m, also ahead of expectations.
Gross margin for the year was approximately 53%, it said, while the company's cash balance at year end was $38.4m.
"Whilst it is disappointing to deliver revenues a little below expectations it is worth noting that in a challenging economic climate, blinkx outperformed the aggressive growth of the online video advertising industry by over 80%," said blinx' founder and Chief Executive, Suranga Chandratillake.
"We are confident in our position in the market and the progress we have made this year, and are excited about the opportunities that lie before us."
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published