Somnomed Limited released unaudited fourth quarter & FY 18 results

  • Jul 25, 2018 AEST
  • Team Kalkine
Somnomed Limited released unaudited fourth quarter & FY 18 results

FY 18 Unaudited Financial Performance: Somnomed Limited (ASX: SOM) has a market capitalization of 146.81 million and its stock has surged 13.62% on July 25, 2018 after the company reported for FY 18 result entailing revenue growth of 30% after delivering 22% revenue growth for the fourth quarter 2018 to $64.2 million (unaudited). For the fourth quarter, net operating cash flow is negative to $738,000, as a result at the end of June 2018, with the cash position of the company at $13.4 million. Excluding the investments made in RSS during the fourth quarter, the company has positive cash quarter for SOM’s core business to $3.26 million. Moreover, during the fourth quarter, the revenue growth for North America is 12%, for Europe 33% and 10% for APAC. SOM’s Core North America is facing challenging environment as in Q4 the growth fell by 9% compared to 7% growth in the third quarter. Additionally, for the full year, the group EBITDA is expected to decline to the lower end of the range of $6.6 million to $7.4 million. However, SOM’s core division EBITDA is expected to be at the upper end of the range $3.5 million to $3.8 million. In FY 19, the revenue is expected to grow at least 15%. Meanwhile, SOM stock has fallen 28.76% in three months as on July 24, 2018.

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