9th Oct 2015 07:04
LONDON (Alliance News) - Blinkx PLC on Friday said it expects its first-half performance to be in line with expectations, anticipating revenue of around USD90 million, down from the USD106.0 million it reported last year.
The internet media company had said in August it expects to post an operating loss for the first half after weaker-than-expected trading in its second quarter.
Blinkx said Friday that it expects to report a loss before interest, tax, depreciation, amortisation and other costs of around USD7 million.
The company said it has taken steps to manage its cost structure and "reflect the changing revenue and profitability profile of its product mix". It reiterated that it expects to return to profitability in the next six to twelve months as its core products continue to ramp up and offset declines in non-core products.
"The company has made significant progress over the past six months to fuel the growth of its Core Mobile, Video and Programmatic offerings. We launched our unified RhythmOne brand and augmented our capability set with the subsequent launch of our RhythmMax programmatic platform during the period," said Chief Executive Officer Subhransu Mukherjee in a statement.
Blinkx will release its interim results on November 17.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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