BLT - Blis Technologies

[hummerh40]

BLT

08/05/2017 08:35

MKTUPDTE

PRICE SENSITIVE

REL: 0835 HRS BLIS Technologies Limited

MKTUPDTE: BLT: Blis Technologies reports a maiden EBITDA surplus

Blis Technologies reports a maiden EBITDA surplus

Blis Technologies reports an unaudited EBITDA surplus of $586k but a small

net deficit of $24k on total revenue of $6,547k (2015: $5,661k) for the

twelve months to 31 March 2017.

The operating cashflow positive result represents an EBITDA turnaround of

$846k compared with last year and comes on the back of a 16% increase in

trading revenue.

The Board of directors have chosen to defer the recognition of any tax asset

due to the net financial deficit.

The company will report its full year annual audited financial results by

Monday 26 May 2017.

[hummerh40]

The stars are beginning to align. Still can't get over the hurdle of declaring that magic 'P' word though....

[winner69]

BLT

08/05/2017 08:35

MKTUPDTE

PRICE SENSITIVE

REL: 0835 HRS BLIS Technologies Limited

MKTUPDTE: BLT: Blis Technologies reports a maiden EBITDA surplus

Blis Technologies reports a maiden EBITDA surplus

Blis Technologies reports an unaudited EBITDA surplus of $586k but a small

net deficit of $24k on total revenue of $6,547k (2015: $5,661k) for the

twelve months to 31 March 2017.

The operating cashflow positive result represents an EBITDA turnaround of

$846k compared with last year and comes on the back of a 16% increase in

trading revenue.

The Board of directors have chosen to defer the recognition of any tax asset

due to the net financial deficit.

The company will report its full year annual audited financial results by

Monday 26 May 2017.

Incredible - amazing - awesome

Ebitda +ve - after how many years - the tide has turned.

[Meextr]

Maybe they can now afford to do that TV ad that was suggested earlier.

[patrick]

Historic!
Good result in view of the extra staff salaries for much of the period.

[simla]

Obviously that is extremely good news.

But not without shades to my mind. The first 6 months report had a surplus before tax of 428k (p6), whereas this is deficit of 24k, which would seem to imply a second half loss of 452k? Also, it reports cash flow positive operating full year. But the first half had positive operating cash of 690k (p9), so there would appear to be a possibility of negative operating cash second half, although that is just a surmise based on the seeming second half loss.

The final revenue was 6.547m. The AGM presentation last year reported Q1 revenue of 1.947m (p19), leaving 4.6m for the remainder of the year, which annualises at (4.6 * 4/3) or 6.13m pa, or just 8% more than last year if you ignore the early Q1 larger figure, which was almost a year ago.

Further, the AGM presentation last year reported an EBITDA of 340k for Q1 (p19), whereas the full year is apparently 586k, or 240k extra for the remaining 9 months, or 80k per quarter?

Yes, very good news. We've waited a long time for that. But I continue to look forward to full reporting from the company in the next report.

As usual, do your own maths. I'm a shareholder. Just my personal viewpoint.

[simla]

Source : last few annual reports, plus update on 2017 just published.

(000s)	2013	2014	2015	2016	2017
Loss	-1856	-1541	-1373	-816	-24
Revenue	1161	1322	2631	5661	6547
Total Expenses	3017	2863	4004	6477	6571
Cost of goods sold	527	585	935	1762
Ergo other expenses?	2490	2278	3069	4715

So a few points.

1. The revenue has increase 5.6 fold in four years.
2. The increase in revenue of 5386k has resulted in reducing the loss by 1832k.
3. Other expenses (not cost of goods sold) have apparently increased 53% just between 2015 and 2016, and about doubled from 2013 to 2016.
4. These figures show why we still have not got a profit ie. extra expenses? Could the company simply "decide" to reach a good profit next year then, or even in a few months first half?

I have checked the figures carefully, but check them yourself if relying on them. As usual, just my viewpoint, feel free to dispute it.

[Harvey Specter]

Good result but still cant convince the auditor that they will be profitable (on a tax basis) going forward. Otherwise they would have recognised the Deferred Tax Asset with respect to tax losses carried forward. Hopefully it is just the auditors being overly conservative!

[simla]

I have to confess to being disappointed. I'm sure people are working hard, but that was not what we hoped for after an "upbeat" start to the year.

This is turning into a game of two questions:

1. Why is there not more growth?
2. Why is the company spending so much if they do not have the income to cover it?

Of course, the company could and should answer those questions in the next report. It's not like nobody has noticed these obvious big points. The financials always report on those points quite openly.

[simla]

6.5m in revenue, and yet what do we get? Yet another loss. Unexciting growth. No chance of dividends in the foreseeable future as things stand? Share price going nowhere. And some lucky people presumably get to stand for re-election this year as usual. Interesting.

Happily the board will present the situation fully in the annual report and we'll all be happy duckies!