Blinkx Plc Trading Update (5538J)
April 08 2015 - 2:00AM
UK Regulatory
TIDMBLNX
RNS Number : 5538J
Blinkx Plc
08 April 2015
BLINKX PLC TRADING UPDATE
London, England and San Francisco, CA. - 8 April 2015 - blinkx
plc ("blinkx" or "the Company") today provides a trading update for
the financial year ended 31 March 2015 ("FY2015" or "the Period").
Preliminary results, based on unaudited, pre-close figures that may
be subject to change, are anticipated to be in line with market
expectations:
-- FY 2015 revenues of at least $210M
-- FY 2015 adjusted* EBITDA of at least $3M
-- Cash and cash equivalents above $90M
The Company plans to release the results for Financial Year 2015
on 18 May 2015.
Consistent with the Company's remarks at the time of its
half-year results, FY2015 was a transformational year for both the
online advertising sector and blinkx. Revenue growth continued to
transition toward Mobile and Video, specifically through automated
or "Programmatic" trading channels. Over the past year, the Company
made significant progress to stabilize its desktop business, and
continued to invest in mobile and programmatic capabilities - the
key industry growth areas. During the Period, blinkx also launched
a major initiative to consolidate its product, sales and marketing
strategy to better align with evolving Advertiser requirements.
The acquisitions of Lyfe Mobile and AdKarma, which accounted for
the majority of cash usage during this financial year, were
instrumental in attracting Programmatic demand across both video
and mobile formats. These acquisitions continue to be integrated
into the blinkx platform, with the eventual goal of completing a
unified Programmatic stack that is able to deliver on the promise
of brand safe, cross-screen advertising at scale.
"During FY2015, blinkx continued to execute against its strategy
to pursue Mobile, Video and Programmatic advertising, the fastest
growing segments of the industry," said S. Brian Mukherjee, CEO of
blinkx. "In a sector characterized by rapid change, we made
transformational moves to stabilize and strengthen our core revenue
streams while positioning the Company in the emerging high-growth
areas of the industry. Our vision remains to bring premium digital
content to consumers and thereby aggregate quality audiences across
devices at scale for advertisers. We believe that we have made
significant progress toward this goal during the year."
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/Tony Gonzalez Edward Bridges/Charles Palmer
blinkx plc FTI Consulting
(US) 415 655 1450 (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 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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