The Imdex Limited (ASX: IMD) share price was up by 7.5 per cent on Monday, adding to gains of more than 50 per cent over the past year.
Imdex Limited, with a market value of about $370 million, provides technology solutions for mining companies and its portfolio includes products which help miners monitor and detect what is below the surface.
The company counts major miners Rio Tinto Limited (ASX: RIO), BHP Billiton Limited (ASX: BHP), Woodside Petroleum Limited (ASX: WPL) and Fortescue Metals Group Limited (ASX: FMG) among its clients and industry partners.
While the company's shareholders have benefited from solid gains over the past year, with Imdex Limited shares now trading for around $1.07, the company's stock price is still well below the $3 it was trading for in 2012.
Imdex's share price in 2012 coincided with a successful year for the company as it reported a net profit after tax of $45.8 million for financial year (FY) 2012.
But the company, heavily reliant on the prospects of mining companies, saw its fortunes dwindle amid a cyclical slowdown in the minerals sector.
In FY 2013 Imdex reported a net profit after tax of $19.4 million, down 58 per cent on FY 2012's figure.
The following year, FY 2014, Imdex reported a loss of $5.3 million and in FY 2015 Imdex's loss increased to $22.5 million and the company saw its share price sink to 20 cents by the end of 2015.
By the end of FY 2016 Imdex's loss had swelled to $54.2 million.
However, Imdex now looks to be in far better shape and is now once again a profitable company.
Imdex Limited reported a net profit after tax of $3.6 million for FY 2017 as the global minerals industry demonstrated signs that it's commencing a cyclical upswing with increased mining activity across key areas.
Imdex's management is anticipating that FY 2018 will be another good year for the company and is expecting stronger financial performance.
