During the latter part of earnings season there were results coming in thick and fast. So much so, a number of results understandably flew under the radar.
Here are three strong results you might have missed:
iCar Asia Ltd (ASX: ICQ)
Last week car listings company iCar Asia released its full-year results which revealed a 41% year-on-year increase in revenue to $9.1 million on the back of a significant lift in total audience numbers. These increased 48% year-on-year to 11.2 million unique visitors. While the company still posted an EBITDA loss of $11.8 million, this was an improvement on a year earlier. Pleasingly, despite this loss iCar Asia is well funded and has $37.4 million left in available funds.
PWR Holdings Ltd (ASX: PWH)
Last week this Australian-based provider of global customised cooling solutions for the automotive industry posted revenue of $20.4 million and net profit after tax of $2.1 million for the first-half of FY 2018. This was a 9.4% and 13.6% increase, respectively, on the prior corresponding period. As the second-half is predominantly the stronger half, management appears confident that the company is well-positioned to deliver a strong full-year result. This could make it one to watch over the next six months.
Updater Inc (ASX: UPD)
Yesterday this relocation technology company’s shares rocketed 16% higher after it released its preliminary full-year results. During the 12 months Updater processed a total of 2,363,048 unique U.S. household moves, up 267% on the prior corresponding period. This left Updater with a market share of 18%, just over halfway towards its ultimate goal of 35%. At this level it believes it will solidify its long-term defensible position as the nation’s platform for all facets of relocation. Thus far revenues have been limited, but this is expected to change in FY 2018. Management provided guidance of revenue between US$19 million and US$23 million for the year ahead.
I think Updater is an exciting share and well worth keeping a close eye on, but these tech shares could be even better.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.