Antaria Limited is a specialist manufacturer and supplier of materials used in the personal care and cosmetic sectors.
Antaria's two primary products are ZinClear™ a transparent zinc oxide based broad spectrum UV absorber for use in the sun care and cosmetics sector and Alusion™ an aluminium oxide pigment with applications in cosmetics products.
Antaria services its international customer-‐base via a global network of distributors.
ASX: ANO
Directors
Rade Dudurovic (Chairman) Ron Higham
Lev Mizikovsky
Company Secretary
Geoff Acton
Quarterly Overview Cash flow from operations for the December 2015 quarter was an outflow of $317,200 compared to an outflow of
$180,986 for the December 2014 quarter, reflecting the seasonality in Antaria's sales and receipts cycle.
The quarter showed a continuation of the positive growth in sales, particularly of the ZinClearTM range of products, resulting in strong invoicing during the quarter with receivables totalling $1.412 million at 31 December 2015 compared with $1.244 million at 31 December 2014. The prior year receivables balance however included a Research & Development receivable of $0.344 million, whereas the 31 December 2015 balance does not, as the R&D claim for the 2015 financial year is still being finalised and will be lodged and accounted for in the 3rd quarter of FY16.
The collection of the outstanding receivables balance at 31 December 2015 will benefit cash flow in the 3rd quarter of FY 16.
Demand for the ZinClearTM range of products continues to improve due to the expansion of the distribution network and as a result of the investment in new formulations and samples. ZinClearTM revenues in the quarter grew by 46% over the December 2014 quarter.
AlusionTM revenues, coming off a low base, were 91% higher than the December 2014 quarter, reflecting the resumption of sales to Merck KgaA. Antaria is in the early stages of a commercial dispute with Merck KgaA and this may affect sales of AlusionTM in the next 12 months.
Antaria's cash balance at the end of the quarter was
$670,675 up from $608,223 as at 30 June 2015.
For further information, please contact: Rade Dudurovic - Non Executive Chairman Email: rade.antaria@gmail.comMobile: +61 411 72 62 84
ANO -‐ Quarterly Commentary -‐ 31 Dec 2015.doc 1 of 1
Antaria Limited issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 January 2016 01:09:08 UTC
Original Document: http://www.antaria.com/IRM/PDF/1666/Appendix4Cquarterlycommentary31December2015