Phoslock Environmental Technologies Limited Reports Consolidated and Parent Earnings Results for the Year Ended June 30, 2018; Provides Earnings Guidance for the Fiscal Year 2019
Phoslock Environmental Technologies Limited reported consolidated and parent earnings results for the year ended June 30, 2018. For the year, the consolidated company's total revenue was up 385% to AUD 16,254,499 against AUD 4,227,307 a year ago. Operating profit (before option expense) was AUD 2.7 million improvement of AUD 4.3 million on previous year loss. Sales revenue was AUD 15,707,100 against AUD 3,825,406 a year ago. Operating profit was AUD 2,852,748 against loss of AUD 1,539,497 a year ago. Profit before income tax was AUD 913,579 against loss of AUD 3,387,396 a year ago. Profit for the year attributable to owners of parent entity was AUD 1,304 against loss of AUD 3,432,078 a year ago. Diluted earnings per share was nil against loss of 0.83 cents a year ago. Net cash used in operating activities was AUD 4,626,141 against AUD 2,957,360 a year ago. Purchase of property, plant and equipment was AUD 585,094 against AUD 1,040,323 a year ago. Purchase of intangible assets was AUD 77,977 a year ago. Net debt was AUD 489,978 against AUD 888,441 a year ago.
For the year, the parent company reported loss after income tax was AUD 2,728,388 against AUD 1,698,545 a year ago.
For the fiscal year 2019, revenue preliminary forecast of AUD 27 million to AUD 30 million, up 80%. Operating profit (before option expense) preliminary forecast is in the range of AUD 7 million to AUD 10 million, up 170%.