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Blinkx sinks as breakeven proves elusive

Tue, 05th Apr 2016 09:26

(ShareCast News) - Blinkx disappointed investors with a trading update that dashed hopes that the third quarter return to profitability would continue into the final months of the financial year.For the full year to the end of March, the digital advertising technology specialist said it expected to generate revenues of $165-170m, having made $91.4m in the first half-year.Ahead of full year results in mid_May, Blinkx said 2016 adjusted losses before interest, tax, depreciation and amortisation (EBITDA loss) were pencilled in at $10-11m.Although at the half year the AIM-listed company recorded a $6.8m EBITDA loss, in January it had boasted that increased product revenues and cost cutting had led to profitability ahead of management expectations and break-even adjusted EBITDA.But the fourth quarter had seen what the company called "anticipated fourth quarter seasonality", which combined with a continued acceleration of the withdrawal from non-core product lines to 30% of total revenues by year-end, compared with over 50% in the previous year.Blinkx is now increasingly focused on programmatic advertising, where revenues have grown 66% in the year such that programmatic and video, which includes mobile, now constitute over 50% of total revenues, with recent rebranding under the RhythmOne brand.Cash at year end was $76m (£53.5m), which compares to a market cap of £72m.Chief executive Brian Mukherjee said: "FY2016 has been a transformational year for the industry and the company. We believe that we now have the technology, talent and relationships in place to scale both organic and inorganic growth as the Industry continues to evolve and consolidate."Through strong cost discipline and a strategic focus on Core mobile, video and programmatic products we are now well aligned with broader structural market trends."

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5 Dec 2013 08:15

Thursday broker round-up UPDATE

AMEC: Canaccord Genuity raises target price from 1125p to 1300p upgrading from hold to buy. AZ Electronic Materials: Canaccord Genuity increases target price from 354p to 404p, while downgrading from buy to hold. BAE Systems: Deutsche Bank takes target price from 415p to 425p keeping a hold recomm

4 Dec 2013 09:04

Blinkx confirms above-target fundraising to buy Rhythm

Online video search specialist blinkx has raised 39m pounds, more than it was expecting, as it acquires mobile video platform Rhythm NewMedia. AIM-listed blinkx agreed to acquire Rhythm for £39.7m, of which £18m is cash and the rest in new shares. According to blinkx, Rhythm operates "a mobile equ

14 Nov 2013 10:14

UK BROKER RATING CHANGES: Seven Houses Raise Sainsbury Price Target

14 Nov 2013 09:21

Thursday broker round-up UPDATE

Afren: Goldman Sachs moves target price from 260p to 270p and retains its strong buy recommendation. APR Energy: Citi raises target price from 1250p to 1350p reiterating a buy recommendation. Atkins: Investec places both its target price (prev.: 1025p) and its reduce rating under review. Babcock

7 Nov 2013 15:25

Blinkx still a 'buy' despite threefold gain

Shares in Blinkx have almost tripled in the year-to-date, but the question is, has this horse bolted or can investors still make significant gains here? Once known as a video search provider, the company has evolved fast in the few years since its 2007 AIM flotation. Strategy has evolved from pure

6 Nov 2013 10:18

BROKER RATING CHANGES: Canaccord Raises Moneysupermarket To Buy

6 Nov 2013 08:48

Wednesday broker round-up

Anglo American: Alphavalue moves target price from 1816.9p to 1827.1p upgrading from add to buy. Associated British Foods: Citi raises target price from 1950p to 2350p, while leaving its neutral rating unchanged. Assura Group: Liberum Capital initiates with a target price of 42.9p and a buy recomm

5 Nov 2013 12:26

UK WINNERS & LOSERS: RSA, CSR Lead FTSE 350 Fallers; M&S Gains On Online Sales

5 Nov 2013 11:43

Blinkx quadruples first-half profits

First-half pre-tax profits were in fast-forward at online video specialist Blinkx, despite strong comparatives. The AIM-listed company lifted revenues 36% to £111.6m, with headline pre-tax profits increased fourfold to £10.8m but if exceptional costs are ignored they rose 93% to £15.2m. Chief Exe

5 Nov 2013 09:18

Blinkx Reports Threefold Increase In Pretax Profit And Rising Revenues

5 Nov 2013 08:29

Update 1-Video search engine Blinkx first-half profits jump

LONDON, Nov 5 (Reuters) - British video search engine group, Blinkx Plc reported a big jump in half-year earnings on Wednesday, a further boost to a company whose shares are already up by more than 160 percent this year. Blinkx, which attracts 168 million unique users each month in the Unit

29 Oct 2013 11:09

blinkx PLC Partners With EpicTV.com For Targeted Advertising

17 Sep 2013 16:24

888 CFO sells 1.1m pounds-worth of shares

Aviad Kobrine, the Chief Financial Officer (CFO) of online gaming entertainment and solutions provider 888, on Monday sold 1.1m pounds-worth of shares in the group, reducing his stake to 3.76m shares. Kobrine, who has held the role of CFO since mid-2005, sold 685,390 shares at 159.51p each. In

16 Sep 2013 09:28

DIRECTOR DEALINGS: Blinkx President Sells 163K Option Shares

12 Sep 2013 09:01

Thursday broker round-up UPDATE

African Minerals: Deutsche Bank cuts target price from 550p to 450p and retains a buy recommendation. Citi lowers target price from 380p to 320p keeping a buy recommendation. Aggreko: Deutsche Bank reduces target price from 2100p to 1870p, while staying with its buy recommendation. ARM Holdings: G

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