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MACH7 TECHNOLOGIES LIMITED — Interim / Quarterly Report 2017
Feb 26, 2017
65285_rns_2017-02-26_a50e5d7d-f61b-41fd-849b-d4313c47d8af.pdf
Interim / Quarterly Report
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ASX Announcement
27 February 2017
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Mach7 Financial Results for the Half Year Ended 31 December 2016
Highlights
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Revenues & other income up 1455% to $5.4 million
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Gross profit margin 94%
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EBITDA (pro-forma) loss reduced by 59% to $1.4 million
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Net tangible assets at 31 December 2016 $5.7 million
Melbourne, Australia; 27 February 2017: Mach7 Technologies Limited ( Mach7 ) (ASX: M7T ), a recognised leader in the enterprise imaging market, today announced its Appendix 4D and financial statements for the half year ended 31 December 2016.
Mach7 recorded $4.8 million of revenues from operations and $0.6 million of other income for the half year ended 31 December 2016. Revenue from operations increased by 40% from the previous corresponding period (half year ended 31 December 2015) on a pro-forma basis*.
Mach7 is a high gross margin business, with gross margin on 94% recorded in the current half year. This is primarily due to the fact the Mach7 enterprise imaging software is internally developed and owned, and research and development costs are expensed at the time of product development.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the current half year was a loss of $1.4 million, compared to an EBITDA loss of $3.3 million on a pro-forma basis for the previous corresponding period. The positive EBITDA growth was attributable to the increase in revenues for the period, as operating expenditure was largely the same at $3.4 million for both periods.
The Company is in a strong financial position, with $5.7 million of net tangibles at 31 December 2016, which includes $5.8 million of cash and deposits. The Company believes this half year result, together with its sales pipeline activity, supports its ability to reach break-even or better by 30 June 2017.
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ASX Announcement
27 February 2017
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About Mach7 Technologies:
Mach7 Technologies (ASX:M7T) develops innovative enterprise imaging IT solutions that create a clear and complete view of the patient to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. Mach7’s award-winning enterprise imaging platform provides a vendor neutral foundation for unstructured data consolidation and communication to power interoperability and enables healthcare enterprises to build their best-of-breed clinical ecosystems. Mach7’s sophisticated workflow tools, advanced clinical viewing and optimized vendor neutral archiving solutions unlock silos of legacy systems empowering healthcare providers to own, access and share patient data without boundaries. Visit www.mach7t.com.
Mach7’s wholly-owned subsidiary, 3D Medical Pty Limited, provides medical specific 3D printing and is an exclusive distributor of various synergistic technologies including holographic projection. 3D Medical’s innovative products leverage data already captured by conventional imaging modalities and apply it in more meaningful ways to deliver improved economic and patient outcomes. For more information, visit www.3dmedical.com.au
Contacts :
Albert Liong Managing Director, CEO +1 650 743 0167 (U.S.) [email protected]
Jenni Pilcher Julia Vaughn CEO Australia, CFO Investor Relations (U.S.) +61 3 9646 2222 (Australia) +1 802 768 0143 (U.S.) [email protected] [email protected]
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