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TZ LIMITED — Capital/Financing Update 2017
Jun 8, 2017
65975_rns_2017-06-08_d354a249-3ded-4608-b2e8-e15f594d5e59.pdf
Capital/Financing Update
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TZ Limited ABN 26 073 979 272
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9 June 2017
Lodged by ASX Online
The Manager Company Announcements Office ASX Limited Level 4, 20 Bridge Street Sydney, NSW 2000
Dear Sir /Madam
FY17 Revenue Guidance
The Board of Directors (the ‘Board’) of TZ Limited (“TZL” or “the Company”) wishes to provide guidance for its expected full year revenue result for the financial year ending 30 June 2017.
In recent years, the fourth quarter has produced the highest quarterly revenue performance of the financial year. In FY17, whilst the fourth quarter is expected to outperform the third quarter, it is not expected to produce the best quarterly result of the year. As a result, while the Company ordinarily does not provide revenue guidance to the market, the Board does wish to provide revenue guidance in this instance.
Based on a preliminary review of secured sales, outstanding orders pending shipment and further orders expected to be received prior to 30 June 2017 and subject to accounting treatment of revenue, the Board expects the Company to deliver a year end revenue result between A$21M and A$23M.
Although this represents modest year-on-year revenue growth, revenues this fiscal year have been impacted by:
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The late award of several projects which the Company had expected to commence earlier. As a result, these projects are expected to be recognised in FY 2018.
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Delays in receipt of purchase orders due to customer infrastructure delays and revised customer deployment schedules for several projects that the Company would have reasonably expected to have concluded within FY 2017.
The outlook for FY18 remains strong with a backlog of purchase orders and a growing pipeline of opportunities identified, quoted and pending award across all geographic markets.
Yours faithfully
TZ LIMITED
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Mark Bouris Chairman
TZ Limited | Level 11, 1 Chifley Square, Sydney, NSW 2000 Australia | Phone: +612 9222 8890 Fax: +612 8208 9937
TZ Limited ABN 26 073 979 272
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About TZ Limited
TZ Limited (“ TZ ”) is a technology company that is listed on the Australian Securities Exchange. TZ is the leader in SMArt Device™ technology combining state-of-the-art SMA actuated intelligent fastening and locking devices with TZ remote software control. TZ’s systems deliver asset level protection and compelling solutions for security, monitoring and control applications across a number of market segments. The Company currently supplies market leading solutions to major corporations worldwide to the Data Centre industry and in the Automated Parcel Locker and E-Commerce market.
For additional information on TZ Limited, please visit www.tz.net.
TZ Limited | Level 11, 1 Chifley Square, Sydney, NSW 2000 Australia | Phone: +612 9222 8890 Fax: +612 8208 9937