It has been another busy day of quarterly and full year updates.
Today we have seen the likes of St Barbara Ltd (ASX: SBM) and IGO Ltd (ASX: IGO) release their quarterly updates (here and here) and will see Rio Tinto Limited (ASX: RIO) release its full year results after the market close.
Three other updates that you might have missed are listed below. Here's how they are performing:
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Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is up 2.5% to $2.83 after the release of its first quarter update. The Canada-based iron ore miner revealed quarterly revenue of $244.6 million and EBITDA of $127.7 million. While these were down from the prior corresponding period, it was driven by lower production after being forced to ramp down during the pandemic. Nevertheless, this didn't stop Champion Iron from posting record quarterly net income of $75.6 million.
Life360 Inc (ASX: 360)
The Life360 share price is down almost 2% to $3.25 following the release of its second quarter update. The family-focused app provider reported annualised monthly revenue (AMR) of US$77.9 million at the end of June, which was up 26% year-on-year. In addition to this, Life360 delivered positive quarterly operating cash flow of US$0.7 million, compared with a cash outflow of US$6.2 million in the March 2020 quarter. However, one disappointment was a 2.8 million reduction in its global monthly active user base to 25.2 million. Management advised that this reflects COVID-19 impacts.
Nuchev Ltd (ASX: NUC)
The Nuchev share price is in a trading halt today after launching a $15 million equity raising along with the release of its fourth quarter update. During the quarter the company reported strong sales of its Oli6 goat-milk infant formula and nutritional products. This led to Nuchev delivering a 98% increase in FY 2020 revenue to $17.8 million. While this was strong, it did fall ever so slightly short of its prospectus forecast. Another negative was that management has warned that third quarter pantry filling and panic buying is unwinding and is expected to continue into the first quarter of FY 2021. It also notes that lower international student numbers are restricting the traditional Daigou channel volume.
