The Data Exchange Network Releases Market Update, Closure Of Manila Office To Save Over Half A Million A Year!

The Data Exchange Network Releases Market Update, Closure Of Manila Office To Save Over Half A Million A Year!

The Data Exchange Network Limited (ASX: DXN) is a company that delivers a whole range of soutions required to meet modern data center needs. The company focuses on designing, engineering, constructing, owning, and operating a modular collocation data centre, as well as delivers a range of data centre solutions and services. Data Exchange Network serves customers in Australia.

The company, today on 8th April 2019, has released a market update emphasising upon the various critical aspects. Some of them are briefed herein.

As regards the DXN Modules – Business Development Win, the company has executed a contract to supply a cable landing station for installation in the Pacific. The company has also restructured its Edge Infrastructure sales division, “DXN Modules” to improve contributions from infrastructure sales significantly. The contract value is estimated at ~$500,000 and is due for delivery in August 2019.

The firm continues to see a mounting pipeline of opportunities in the edge infrastructure market, both domestically and in the Asia Pacific region and is quite positive about the revenue that this segment can generate going forward. The company looks forward to updating the market as and when new contracts are offered to it.

Concerning the development of Kuala Lumpur Office replacing Manila Operations, the company has taken this decision in view of the commencement of newly acquired business development team in Kuala Lumpur and the opportunities that can be driven from this office. The closure of the Manila office is expected to result in cost savings of over $500,000 per annum.

Also, the company has recently declared that Mr. James Butler will be joining the company’s Data Centre team in the month of April 2019, as its National Channel Manager. James will be looking after the indirect sales channel for both the Sydney and Melbourne data centres. He has got over 20 years’ of experience in developing the channel strategy for various ICT organisations, most recently for the Pure Storage & Metronode Data Centres.

Also, as part of the management’s review of the ongoing operations of the business, the company has decided to terminate the previously announced Data Centre as a Service contract and has decided to focus all the efforts on its own data centres.

The company recently updated the exchange on its rights issue.

On the stock-performance front, the stock has posted the YTD return of -40.04%. The company also has posted return of -55.03% over the past six months. At the time of writing, i.e. on 8th April 2019 AEST 01:50 PM, the stock of the company is trading at a price of A$0.065, down by 2.985% during the day’s trade with a market capitalisation of ~A$13.08 million. The stock has opened the trading day at A$0.067, reached its intraday high of A$0.069, and touched an intraday low of A$0.065, with a daily volume of ~ 252,742. It had a 52-week high price of A$ 0.294 and a 52-week low price of A$0.046, with an average volume of 349,870 approximately.


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