14% Surge In Data# 3 Shares Post An Increased 1H19 Earnings Guidance

  • Jan 16, 2019 AEDT
  • Team Kalkine
14% Surge In Data# 3 Shares Post An Increased 1H19 Earnings Guidance

Data# 3 Limited (ASX: DTL) headquartered in Queensland, Australia, is an IT services and solutions provider. The company focuses on helping its clients by providing innovative technology solutions. DTL provides an integrated array of solutions such as data and analytics, cloud, mobility, security, and IT lifecycle management which are combined with services such as procurement, resourcing, consulting, project services, and managed services. 

In its FY18 AGM guidance which was released on 14 November 2018, the company stated its pre-tax profit for the first half 2019 to lie between $7.0 million to $ 8.5 million which was $4.0 million in 1H18. This represented a growth of 75% to 112.5% on a y-o-y basis.

But today, the company has announced an update over its first half of 2019 earnings guidance according to which the company estimates a stronger pre-tax profit which is expected to lie between $8.5 million to $9.0 million representing a growth of 112.5% to 125% on a y-o-y basis.

Post the announcement, the shares of the company soared high closing the trading session at A$1.645, up by 13.84%.

The company reported a fall in the pre-tax profit by more than 50% in the first half of 2018 on account of higher expenses related to the service segment of DTL which was covered up in the second half of 2018. The decommissioning of its cloud platform also reduced the contribution from managed services. It reported an increase in headcount from 1,177 to 1,210 during FY18.

During FY18, the company reported total revenue of $1,181.4 million which was up by 7.6% mainly because of the increase in cloud-based revenue by 58% which was reported at $267.8 million.

Although the gross profit was up by 0.8% reported at $160.1 million during FY18, the gross margin went down by 0.9% being reported at 13.6%. The EBITDA was also down by 9.3% reported at $22.4 million.

The company reported a fall in EBIT by 10% reported at $19.5 million during FY18. The company reported Net Profit Before Tax (NPBT) at $20.4 million in FY18 with a plunge of 8.9%. Similarly, Net Profit After Tax (NPAT) excluding minority interest was also down by 8.4% reported as $14.1 million in FY18. During FY18, the company paid a dividend of 8.2 cents which was down by 7.9% and reported an EPS of 9.14 cents which was also down by 8.4%.

DTL reported a strong balance sheet with no material debt in FY18. It reported an operating cash flow of $8.2 million

The board intends to announce its audited interim results and interim dividend on 20 February 2019.

Looking at Data# 3 Limited’s stock performance and the return it has posted over the last few months, the stock has generated a negative return of 11.62% during the past six months. It is currently trading at $1.645 (as on 16 January 2019) with a surge of 20 cents in the price during the day’s performance. The company has ~153.97 million shares outstanding with the market cap of circa $222.49 million. Its 52-week high and low are marked at $1.865 and $1.310 respectively.


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