Two IT Stocks With Key Updates- SKF And YOJ

Two IT Stocks

Skyfii Ltd (ASX: SKF)

On 30 January 2019, Skyfii Ltd announced that it had inked a five-year contract with North American Skyfii reseller, Cincinnati Bell to deploy SaaS recurring revenue ‘IO Platform’ services to the City of Fairborn and University of Dayton in the state of Ohio, USA. The contract includes the deployment of Skyfii’s IO Platform services – Guest WiFi (IO Connect), IO Insight and IO Engage. The partners have already worked on similar projects for the successful smart city deployment in the City of Cincinnati and City of Covington.

Further, Skyfii has recently released its quarterly results for the second quarter of Fiscal 2019. The company posted total operating revenue of $2.4 million for December 2018 quarter, representing 7% growth on the previous quarter and 34% increase on Q2 FY2018. Its recurring revenue for the period grew by 10% to $1.2 million compared to the previous quarter while its service revenue drifted lower by 9% to $608,000 in the quarter ended 31 December 2018.

These quarterly results led the company to deliver a record finish for its 1H FY2019 with revenue of $4.7 million, higher than its October 2018 forecast of $4.5 million. Moreover, on the profit front, the company delivered an EBITDA of $290,000 in the first half of FY19, equivalent to the previous half year, i.e., 2H FY18. During the quarter the company incurred the increased expenditure in sales and marketing activities in support of generating sales pipeline growth via its key global channel partners.

Going forward, the company expects to deliver continued revenue growth and a positive EBITDA performance in 2H FY2019 with continuous investment towards the increase in operations. It primarily focuses on capital management to boost the topline growth.

The company stated that cash receipts from customers for 2Q FY19 were $2.34 million, up 7% from $2.18 million on the 1Q FY19. As at 31 December 2018, Skyfii’s cash at Bank stood at $1.44 million at the end of the quarter, up from $1.1m at the end of the previous quarter.

In today’s trading session, SKF stock is trading high at A$0.150, up by 3.45% (as at 2:10 PM, 30 January 2019).  The stock price has witnessed a negative performance change of 12.12% over the past 12 months.

Yojee Limited (ASX: YOJ)

Yojee Limited launched an Advisory Board on 29 January 2019 with the appointment of Peter J F McLean and Christopher Logan. The Advisory Board has reportedly been formed to provide guidance, advice and strategic industry assistance to the company.

As stated by the company’s Managing Director Ed Clarke: The new appointments support the company’s future expansion plans with their extensive industry and operational experience.

With over 30 years of experience, Peter J F McLean is a Senior Vice President and Head of Asia Pacific (APAC) of Kalmar, part of Cargotec and is well recognized in the automation field for his leadership in managing world-class projects in Australia. Also, Mr. McLean has been the driving force in the sales growth across Asia with key strategies across South East Asia, China and India Markets.

Senior business advisor to logistics start-ups, Mr. Logan was titled Young Global Leader by the World Economic Forum in 2009.

For the year ending 30 June 2018, Yojee posted 206% jump in Net Loss After Tax to $5.692 million. The Net Tangible Assets per security stood at $0.223 as compared to $0.709 in the previous year.

YOJ stock price surged up by 1.639% to last trade A$0.062 on 29 January 2019. Today, the stock has plunged by 8.1%, trading at A$O.057 (as at 2:10 PM, 30 January 2019).


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