Wednesday, March 20 09:21:42
The ISEQ is significantly higher this morning at 3983, up 46 points as European markets shrug off the Cyprus crisis.
Datalex has emerged into significant profitability following years of development and Davy Stockbrokers comments:
In FY2012, Datalex returned to profitability with a net profit of $1.1m (which includes recognition of a previously unrecognised deferred tax asset of $0.8m compared to a net loss excluding exceptional items of $1.4m in the previous year). This was driven by the deployment of Datalex's platform to new customers.
In 2012, total revenues grew by 15pc to $32.4m, driven by an 11pc increase in transaction revenue to $14.7m and an increase in services activities as a result of the large new customer deployment programme. In FY2012, EBITDA grew 33pc to $5.8m (guidance $6.0m); total cash reserves were $14.6m at the end of FY2012, an increase of 17pc on the previous year.
FY2012 customers wins and deployment set the stage for revenue and EBITDA growth in both FY2013 and FY2014 In 2012, Datalex deployed its system for customers including Delta, United MPH, Westjet, Garuda and SITA. Transactions from these customers will help to drive revenue and EBITDA growth in FY2013. Datalex is guiding for EBITDA growth of 25-30pc in FY2013.
New customer wins in 2012 - including Virgin Australia, Oman Air and major Indian and Chinese carriers - will contribute to FY2014 transaction revenue and help drive EBITDA growth.
We look forward to the company's next update (IMS) for the four months ending April 30th on May 15th 2013 according to Davy Stockbrokers.