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

 

IkeGPS first half revenue rises 26%


By Gavin Evans

Oct. 31 (BusinessDesk) - Utilities measurement specialist IkeGPS said first-half revenue rose 26 percent, buoyed by good North American demand for its new Ike Analyse product.

Revenue for the six months through September rose to about $4.4 million, from $3.5 million a year earlier. September quarter revenue climbed to $2.5 million from about $1.9 million three months earlier, the company said.

Gross margin for the half-year almost doubled to $2.9 million.

The Wellington-based company utilises GPS technology in its software and field equipment to measure and record pole and line data and make it easier for power and telecommunications firms to build and manage their networks.

The company listed four years ago and last month raised $5 million from new shares to provide working capital and help fund on-going product development.

Today Ike noted that six enterprise customers, including two tier-one electric utilities and four engineering groups doing network development for communications firms, had contracted for the new Ike Analyse product.

Chief executive Glenn Milnes noted that the annualised revenue rate from Ike Analyse sales grew to approximately $2 million in the second quarter, about double that earlier in 2018.

“Based on contracts in place we expect this annualised run rate to continue to increase through Q3 FY19 and with the potential for Ike Analyze sales to deliver outsize revenue growth over and above our base FY19 plan.”

Ike shares were recently unchanged at 62 cents. They have gained about 49 percent this year.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO:

Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>

ALSO:

EPA: Spill Sees Abatement Notice Served For Tamarind Taranaki

The notice was issued after a “sheen” on the sea surface was reported to regulators on Thursday 21 November, approximately 400 metres from the FPSO Umuroa. A survey commissioned by Tamarind has subsequently detected damage to the flowline connecting the Umuroa to the Tui 2H well. More>>

Taskforce Report: Changes Recommended For Winter Grazing

A Taskforce has made 11 recommendations to improve animal welfare in intensive winter grazing farm systems, the Minister of Agriculture Damien O’Connor confirmed today. More>>

ALSO: