IkeGPS to break even in 2017, investigates Nasdaq listing
The laser measurement tool developer said it expects continuing sales growth across its portfolio of measurement products.
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IkeGPS [NZX: IKE] says it will break even in 2017 as it forecasts improved sales from its new cloud-based product.
The laser measurement tool developer said it expects continuing sales growth across its portfolio of measurement products, increased margins on new products, operating and cost efficiencies and product-to-market infrastructure.
"Cash at the end of the 2016 financial year was approximately $5.3 million," it said. "The board continues to monitor the company's cash position and, under this financial year business plan, is comfortable with the capital structure at this time."
The company said its growth outlook for 2017 remains high and it will build upon the momentum of multi-year revenue growth rates exceeding 100% each year. That's based on predicted sales growth of its cloud-based IKE 4 product, which it said is "well-positioned to build customers and capture larger market share, estimated to be an addressable opportunity of $700 million." IkeGPS expects to announce major new customers tied to Google Fiber deployment projects across the US, it said.
The company is also investigating a potential Nasdaq listing, subject to the board's review and approval of the terms and benefits.
Last month, IkeGPS said its annual sales for 2016 were at the bottom end of its lowered guidance, with $2.2 million of orders received in the final month of its current financial year to be booked in the 2017 financial year.
It will announce its annual result on May 20.
The shares last traded at 66c and have dropped 5.7% this year. The shares were floated at $1.10 in a 2014 IPO when the company raised $25 million of new capital as it shifted away from production development to sales and marketing.
(BusinessDesk)
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Sophie Boot
Wed, 04 May 2016
Wed, 04 May 2016
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IkeGPS to break even in 2017, investigates Nasdaq listing
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