XTD Delivers 203% YoY Growth
Cross-track digital media system owner and operator XTD Limited (ASX: XTD) (XTD or the Company) is pleased to lodge its cashflow report for the June quarter.
XTD is very pleased to report:
- 203% year-on-year (YoY) increase in operating cashflows on the June 2015 Quarter
- 30% increase in operating cashflows on prior quarter
- Current cash balance of $2.2m, a 12% increase from priorquarter
Above figures are consistent with the opening of the Brisbane network and continuing enthusiasm for the digital out-of-home sector.
The June quarter includes the seasonally stronger months compared to the previous quarter (March to May 2016. June receipts do not fall into the June quarter).
Operating Cashflow Highlights
- Cash receipts, which represents revenues for the period from March through toMay, were $947,000.
- XTD generated positive operating cashflow of $462,000 for Q4 after adjusting for expenses associated with the Contact Light development.
- Operating expenditure directly associated with Contact Light during the quarterwas
- $313,000 (XTD still exerts control of Contact Light by virtue of a majority shareholding and board control).
XTD Chief Executive Officer Steve Wildisen commented: “This has been a particularly active quarter for XTD on two fronts. Firstly, we continue to be recognised in the marketing industry’s digital out- of-home sector which remains the fastest growing and highly adaptable media channel. Second, our innovation division Contact Light is continuing to develop new mobile technology that broadens XTD’s product offering to capture broader transit audiences via mobile devices.”