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JCURVE SOLUTIONS LTD — Capital/Financing Update 2016
Jun 20, 2016
65158_rns_2016-06-20_1ebf5f66-b6ef-4248-b7ad-7da5bd04b39c.pdf
Capital/Financing Update
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21 June 2016
Manager of Company Announcements ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000
By E-Lodgement
MEDIA RELEASE – BUSINESS UPDATE
JCurve Solutions Limited (ASX : JCS) wishes to reaffirm that it is on track to achieve the updated revenue, EBITDA (excl. impairments) and NPAT (excl. impairments) guidance issued on the 23[rd] of February 2016 for the year ending 30 June 2016.
The updated guidance released on the 23[rd] of February 2016 was as follows:
| The updated guidance released on the | 23rdof February 2016 was as follows: |
|---|---|
| MEASURE | FY16 OUTLOOK |
| Revenue | Range:$9.5m -$10.5m |
| EBITDA(excl. impairments) | Range:($0.2m to$0.5m)loss |
| NPAT(excl. impairments) | Range:($0.2m)loss to$0.1mprofit |
The Company is pleased to advise that it expects that the revenue, EBITDA (excl. impairments) and NPAT (excl. impairments) results for FY16 will be materially in line with the above guidance. This expectation is based on actual results to May 2016 and forecast for the month of June 2016, both of which are subject to year-end audit.
Further, and importantly, the Company notes that it is on track to report a closing June 2016 cash position that will be in line with the $2 million cash position reported as at 30 June 2015. Having this level of cash while remaining debt free places the Company in a strong position for the start of the new financial year.
The Board notes the continuing growth in annuity revenue streams from the JCurve solution offering and the surprisingly strong performance and opportunities currently being progressed in the JTEL business unit. With its strong cash position, market recognised products, and a focused and cohesive management team, the Board has commenced its review of a variety of opportunities in both the Australian and Asian markets that will support ongoing growth of the Company and complement our current offerings. These discussions are in their infancy and should they progress to a desired level, market updates will be provided.
For and on behalf of the Board
Bruce Hatchman Chairman