ComOps Limited reported audited consolidated earnings results for the full year ended December 31, 2017. For the period, the company reported revenue of AUD 8,745,662 compared to AUD 9,376,381 a year ago. Loss before income tax benefit was AUD 6,773,138 compared to AUD 904,387 a year ago. Loss after income tax benefit for the year attributable to the owners of the company was AUD 6,507,913 compared to AUD 655,048 a year ago. Basic and diluted loss per share was 0.87 cents against 0.09 cents a year ago. Net cash used in operating activities was AUD 1,833,408 compared to AUD 339,582 a year ago. Payments for property, plant and equipment was AUD 17,200 compared to AUD 43,746 a year ago. Payments for intangibles were AUD 267,729 compared to AUD 785,125 a year ago. Adjusted LBITDA was AUD 2,079,174 compared to adjusted EBITDA of AUD 65,436 a year ago.

The revision of ComOps' strategy, subsequent realignment of operations and new cost base along with the successful capital raising in late fiscal 2017, is expected to deliver a positive EBITDA for fiscal 2018, and allow the operations to become cash self-generating. The board of directors and management believe ComOps enters 2018 in the strongest position it has been in some time and are committed to developing the company into a sustainably profitable growing company.