The Audinate (ASX: AD8) share price opened 3% higher at $3.96 this morning after the innovative sound equipment specialist released it's results for the quarter ending December 31 2018. Below is a summary of the quarterly results with any comparisons to the prior corresponding quarter.
- Cash collections up 49% to $7.2 million, and up 7% on the prior quarter
- Operating cash flow of $0.6 million, compared to $0.3 million in the prior corresponding quarter
- Year-to-date total cash flow is negative $1.5 million, compared to $1.3 million in prior corresponding year-to-date
- Cash on hand of $12.18 million as at quarter end
- Estimated cash outflows for quarter ending March 31 2019 of $7 million (offset by revenues)
The Audinate share price has rocketed from $1.53 on June 30 2017 to $3.85 today as investors get excited by its unique sound processing cables that are increasingly being uptaken by music industry professionals.
According to its latest 3B filing the company has 57.1 million shares issued to give it a market value of $226.1 million based on a share price of $3.96.
