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2 Jul 2014 07:00
BLINKX PLC TRADING UPDATE
London, England and San Francisco, CA - 2 July 2014 - blinkx plc ("blinkx" or "the Company") today issues a trading update based on performance to date for the first half, Financial Year 2015 ("the Period"). Trading for the Period has been below management expectations.
Historically, blinkx's business has been back-end loaded toward the latter part of each quarter, with disproportionate growth toward the end of each calendar year. During the last three months, which are seasonally the smallest quarter of the year, we saw lower than forecast demand - specifically within Desktop - with a corresponding shortfall in revenues and EBITDA. The shortfall was exaggerated toward the end of the quarter. We attribute this performance to industry-wide issues of efficiency and effectiveness, which, in our case was compounded by the lingering effects of the disparaging blog about the Company. This resulted in a slower than expected return of demand, despite earlier signs of normalization.
As a consequence, while revenues grew c. 5% year-on-year, EBITDA will be c. $5M below management expectations for the Period, based on the Company's internal models.
For further information please contact:
Analyst and Investor Contact Dan Slivjanovski blinkx plc (US) 650 731 2431
| Financial Media Contacts Edward Bridges/Charles Palmer FTI Consulting (UK) 020 3727 1000
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NOMAD and Joint Broker for blinkx plc Charles Lytle/Christopher Wren Citigroup Global Markets Limited (UK) 020 7986 9756 | Joint Broker for blinkx plc Lorna Tilbian/Mark Lander/Nick WestlakeNumis Securities Limited(UK) 020 7260 1000
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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.
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