FOUR months after being sent to the stockmarket sin-bin, erotic e-tailer AdultShop.com returns to the boards today after reporting solid underlying earnings for the December half and promising better things to come.
Forced into suspension last October, a month after revealing that problems with credit-card billing would wipe out a projected $11.5 million profit for the half, AdultShop said yesterday it had bounded back into the black in November.
Revenues topped $56.4 million for the half, generating unaudited earnings before interest, tax, depreciation and amortisation (EBITDA) of almost $1.3 million, while cash reserves stood at $9.58 million at the end of the year, in line with its revised projections.
And while it suffered leaked cash of $5.85 million for the seven months to the end of January, AdultShop reported positive net cash flow of $857,000 for the month of January, boosting total cash reserves to $10.3 million.
AdultShop chairman Kim Heitman yesterday said the outlook for the group, led by its key online erotic entertainment division, was now "positive".
"The directors believe that the company is on track to generate a positive net operating cash flow and EBITDA for the current quarter," he said.
www.thewest.com.au/20030218/business/...ess-home-sto88320.html
Forced into suspension last October, a month after revealing that problems with credit-card billing would wipe out a projected $11.5 million profit for the half, AdultShop said yesterday it had bounded back into the black in November.
Revenues topped $56.4 million for the half, generating unaudited earnings before interest, tax, depreciation and amortisation (EBITDA) of almost $1.3 million, while cash reserves stood at $9.58 million at the end of the year, in line with its revised projections.
And while it suffered leaked cash of $5.85 million for the seven months to the end of January, AdultShop reported positive net cash flow of $857,000 for the month of January, boosting total cash reserves to $10.3 million.
AdultShop chairman Kim Heitman yesterday said the outlook for the group, led by its key online erotic entertainment division, was now "positive".
"The directors believe that the company is on track to generate a positive net operating cash flow and EBITDA for the current quarter," he said.
www.thewest.com.au/20030218/business/...ess-home-sto88320.html
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