Ellies Holdings Limited provided earnings guidance for the year ended April 30, 2019. The company expected a loss per share for the year ended 30 April 2019 of between 3.8 cents and 5.1 cents per share when compared to the earnings per share of 6.84 cents per share for the year ended 30 April 2018. A headline loss per share for the year ended 30 April 2019 of between 3.0 cents and 4.5 cents is also expected compared to the headline earnings per share of 7.89 cents per share for the year ended 30 April 2018. The decline is mainly attributable to a marginal decline in revenue compared to the 2018 fiscal year; new management re-assessing the saleability of inventory and the recoverability of accounts receivable, both of which resulted in write-downs and increases in provisions; impairment of the Ellies Industries Pty Ltd. manufacturing plant in light of losses due to a lower throughput as a result of lower demand for the Company's products; significant operating expenses which included consulting and legal fees in dealing with a number of legacy litigation issues.