Shares Of Integrated Research Zoom By 37% On Strong Earnings Guidance For 1H 2019

  • Jan 10, 2019 AEDT
  • Team Kalkine
Shares Of Integrated Research Zoom By 37% On Strong Earnings Guidance For 1H 2019

Integrated Research Limited (ASX: IRI) is an IT company based in Sydney, Australia. IRI is a global leader in providing sophisticated management solutions for payments, communications ecosystems, and IT infrastructure. Under its portfolio, the company has 17 million managed endpoints with more than 120 F500 companies. It is managing ~$8 billion payments daily. More than 1200 organizations working in over 60 countries rely on IRI’s business critical insights. It also ensures continuity-critical systems delivering high performance for its customers all over the world.

Today, the company has announced that it is in the early stages of preparing its financial statements for the period 1 July 2018 to 31 December 2018 and it is anticipating a strong result. The company expects that the revenue will lie in the range of $49.0 million to $50.5 million which was reported as $91.2 million in FY18 and $45.702 for 1H18 with an increase of 7.216% to 10.498% as compared to the equivalent prior period, i.e., 1H18.

Net profit after tax for the half is expected to be in the range of $11.1 million to $11.7 million compared to $9.266 million in 1H18 ($19.2 million in FY18) representing a growth of 19% to 26% as compared to the equivalent prior period.

Similarly, revenue from license sales is expected to be in the range of $30.0 million to $31.5 million compared to $25.567 million in 1H18 ($52.6 million in FY18), representing a growth of 17% to 23% as compared to the equivalent prior period.

The reason for this strong result is the growth in the company’s European operation with a significant contribution from the Payments product line. The company is anticipated to publish its audited financials on 14 February 2019.

On 2 January 2019, the company issued 50,000 ordinary shares against the exercise of vested Performance Rights (IRIAT) granted under the terms of Integrated Research Performance Rights and Option Plan. The shares are issued at an average exercise price of $0.00.

The company had paid a dividend of 3.5 cents on 16 October 2018 with 100% franking and an annual dividend yield of 3.92%.

On 10 December 2018, the company appointed Mr. Matt Glasner as a Chief Commercial Officer (CCO), a new position for IRI. This marked a change in the company’s sales structure and organization. It also announced the resignation of Mr. Andre Cuenin, President Americas & Global Alliance for IRI’s US subsidiary, Integrated Research Inc.

On 20 November 2018, Mr. John Merakovsky resigned from the position of CEO with effect from 18 February 2019 because of some family problems. Mr. Peter Adams who is currently the CFO of IRI has been appointed as the interim CEO on 21 December 2018 with effect from the day the current CEO leaves the business.

Looking at the performance of Integrated Research Limited’s stock and the return it has posted over the last few months, the stock has generated a negative return of 57.65% during the past year. It closed the trading session at $2.280 with a surge of 37.349% on account of strong earnings guidance. The company has ~171.82 million shares outstanding with the market cap of circa $285.22 million.


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