Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


SLI shares soar after December search queries top 1 billion

SLI shares soar after December search queries top 1 billion

By Paul McBeth

Jan. 14 (BusinessDesk) - Shares in SLI Systems soared to a six-month high after the online search software developer’s service topped 1 billion search queries in December, the first time it crossed that threshold.

The shares rose as high as $2.50, the highest since July last year, and recently traded at $2.45, up 20 percent on the day, after the company said search queries handled for its global retail customers grew 50 percent in December from a year earlier. December is typically the busiest month for search queries on retailers’ websites due to the Christmas holiday period.

“As more retailers realise that search and related services can be significant drivers of revenue and traffic, we have enjoyed growth well beyond that of the overall eCommerce industry,” chief executive Shaun Ryan said in a statement. “This billion-query milestone reflects not only the growing number of merchants using our services but also adoption by larger retailers with higher traffic volumes.”

Ryan told BusinessDesk the number of search queries doesn’t directly tie into SLI Systems’ revenue, as its larger customers with higher traffic pay a lower rate per query, though it’s “definitely a positive indicator.”

He’s upbeat about the company’s prospects for the upcoming year, saying “we continue to see a number of opportunities globally for our services,” and said the company has been taking on new staff to take advantage of those.

SLI Systems reported annual sales of $18.3 million in the year ended June 30, 2013, with annualised recurring revenue of $19.3 million, both slightly ahead of expectations, with a smaller net loss than forecast of $2.15 million.

Like other growth-focused tech companies, SLI Systems is forgoing short-term profits to chase global market share.

The company listed on the NZX in May last year, raising $27 million in a public offer and from existing investors to fund its growth aspirations, particularly in Japan and Brazil.

The stock was sold at $1.15 apiece, and has climbed 63 percent since then, valuing the company at $147.1 million.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news