This morning Audinate Ltd (ASX: AD8) reported its half-year results for the period ending December 31 2018. Below is a summary of the results with comparisons to the prior corresponding half.
- Revenue up 60% to $14.2 million
- Profit before tax of $0.7 million, compared to a loss of $0.5 million
- US$ revenues increased 51% to US$10.3 million
- EBITDA of $1.7 million, up from $0.1 million
- Operating cashflow of $0.6 million
- Total expenses increased 34% to $8.7 million
The Audinate share price is up 11% to a record high of $4.88 in response to the news as investors celebrate it swinging to a landmark profit before tax on the back of strong sales growth for the audio equipment company's core Dante enabled original manufacturers equipment products.
Audinate's CEO didn't provide any specific guidance for the balance of the fiscal year other than to state it was well positioned for more growth on the basis of new product sales and developments. This looks a credible conclusion for a stock that has been on fire over the past year.
