Blinkx Plc Trading Update (1128T)
October 01 2014 - 1:00AM
UK Regulatory
TIDMBLNX
RNS Number : 1128T
Blinkx Plc
01 October 2014
BLINKX PLC TRADING UPDATE
London, England and San Francisco, CA. 1 October 2014 - blinkx
plc ("blinkx" or "the Company") today updates the market on its
expected performance for the first half Financial Year 2015
covering the period from 1 April 2014 to 30 September 2014
("H12015" or "the Period").
As noted in early July, revenue trends slowed considerably in
the latter half of the first quarter. These trends continued into
the second quarter, amplifying the effects of the seasonally slower
summer months. The preliminary first half results, based on
unaudited pre-close figures that are subject to change, are
expected to be:
-- H1 2015 revenues of $102 to $104M
-- H1 2015 adjusted* EBITDA of approximately break-even
-- Cash and cash equivalents of approximately $115M at the end of the Period
blinkx has seen sequential month-on-month growth since July, and
management believes the Company has reached an inflection point.
Mobile remains a high-priority area for operational and strategic
investments and is expected to contribute approximately 20% of
revenues during the Period.
"The past six months have been transitional for blinkx, which
operates in an evolving industry moving toward emerging mobile
models. We are well positioned with high-growth advertising formats
that are expected to contribute an increasing percentage of
revenues," said S. Brian Mukherjee, CEO of blinkx. "We have taken
decisive steps to fortify our business model and realign our
resources to target growing areas of the sector, and we feel
confident in our prospects going forward."
The Company will provide a more detailed update and outlook when
it publishes its interim results on 11 November 2014.
Non-GAAP Measures
-- This press release contains references to adjusted* EBITDA.
This financial measure is not a measure that has any standardized
meaning prescribed by IFRS and is therefore referred to as a
non-GAAP measure. The non-GAAP measures used by blinkx may not be
comparable to similar measures used by other companies.
-- Adjusted* EBITDA is defined as profit for the year
attributable to equity holders of the parent before interest,
taxes, depreciation and amortization, stock based compensation
expense, and acquisition and exceptional costs. Management believes
that this measure is a useful supplemental metric as it provides an
indication of the results generated by the Company's principal
business activities prior to consideration of how the results are
impacted by one time exceptional charges, how the results are taxed
in various jurisdictions, or how the results are affected by the
accounting standards associated with the Group's stock based
compensation plan.
For further information please contact:
Analyst and Investor Contact Financial Media Contacts
Dan Slivjanovski Edward Bridges/Charles Palmer
blinkx plc FTI Consulting
(UK) 020 3727 1000
NOMAD and Joint Broker for blinkx Joint Broker for blinkx plc
plc Lorna Tilbian/Mark Lander/Nick
Charles Lytle/Christopher Wren Westlake
Citigroup Global Markets Limited Numis Securities Limited
(UK) 020 7986 9756 (UK) 020 7260 1000
About blinkx
blinkx (LSE AIM: BLNX) is an Internet media company that
connects consumers and brands through premium content online.
Founded in the UK in 2004, blinkx pioneered Internet Video Search
using its patented COncept Recognition Engine (CORE). This
technology leverages speech recognition, text and image analysis to
deeply understand the meaning and context of video content to
generate improved search relevancy for consumers and a brand safe
environment for advertisers. Today, blinkx is a broad digital media
technology, distribution and monetization platform that connects
consumers, advertisers and content across four screens. Through its
partnerships with hundreds of media companies, including ABC, NBC,
Conde Nast, Reuters and Bloomberg, blinkx has indexed and search
enabled millions of hours of video content. blinkx powers video
search, discovery or monetization on thousands of online properties
including Lycos, ABC, CBS and Fox Sports. blinkx is headquartered
in San Francisco, California with 15 offices worldwide. For more
information please visit www.blinkx.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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