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

 


Wynyard beats 2013 sales forecast, posts wider loss

Wynyard beats 2013 sales forecast, posts wider loss on increased investment, IPO costs

Feb. 24 (BusinessDesk) - Wynyard Group, the intelligence software developer, just beat its forecast annual sales by attracting customers to its suite of services, while posting a bigger loss than expected a because of investments and listing costs.

The Auckland-based company posted a pro-forma loss of $11.2 million in calendar 2013, from a loss of $3.7 million a year earlier. That was ahead of the $10.1 million shortfall forecast in its June prospectus. Revenue more than doubled to $21.7 million, just ahead of the forecast $21.5 million, with 110,800 licenced end-users. The company said it is likely to beat its 2014 sales forecast of $27 million.

“Wynyard is strongly positioned in the new fast-growing advanced crime analytics market,” chief executive Craig Richardson said in a statement. “While the end game for Wynyard is a highly profitable company with lifetime customers, investing for growth and continued momentum is critical at this stage to extend Wynyard’s product leadership position and global market share.”

In November, Wynyard brought forward recruitment of new sales and services staff to manage next year’s growth pipeline, adding between $1 million and $1.5 million to the forecast operating expenditure of $25 million for the 2013 calendar year.

The shares were unchanged at $2.86 today, and have soared 146 percent this year as investors chased companies with growth potential.

Wynyard burned through more cash than forecast in 2013, with operational cash outflow of $5.29 million, compared to a forecast $3.07 million. That left the company with funds of $17.04 million as at Dec. 31, less than the $20.85 million forecast.

The company said the shortfall was due to a timing difference between revenue recognition and invoicing of software licences, and also higher than expected initial public offer costs of $500,000.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news