Half Year Accounts
Half Year Accounts
Sydney, Aug 24, 2020 AEST (ABN Newswire) - Etherstack plc (ASX:ESK), the developer, manufacturer and licensee of mission critical radio technologies across the globe, is pleased to announce results for the half year ended 30 June 2020.

Results Highlights - All amounts are in USD'000.

Revenue Growth: revenue is $2,405 up 40% on the prior corresponding period ("pcp")

Strong Positive Operating Cashflow: the Company generated $1,354 net cash from operating activities ($919 for the pcp)

Strong EBITDA result: EBITDA for the half year is $829 (loss of $66 for the pcp)

Underlying profit after tax for the period is $99 (2019 loss of $874). This result excludes a $2,383 Non cash Finance charge.

Non Cash Finance charge: as a result of the sharp increase in the Company share price on 30 June 2020 the market value of the convertible note liability increased requiring the Company to recognise a Non Cash finance charge of $2,383. The conversion of the convertible notes on 30 June 2020 and 1 July 2020 results in an increase in issued capital of $3,592. Importantly, the 2 conversion transactions reduce debt and increase net assets by $1,209. This item is further detailed in the Directors Report and in Note 6 to the financial statements.

Strategic Wins:

o Etherstack entered into a strategic multi-year Global Teaming Agreement with consumer electronics giant, Samsung, to deliver next generation Mission Critical Push To Talk (MCPTT) over LTE solutions.

o The Company has also won a material deal to supply digital radio network equipment to a resources sector customer in Western Australia.

To view the report, please visit:
https://abnnewswire.net/lnk/3C36IQBB


About Etherstack Plc

Etherstack plcEtherstack (ASX:ESK) is a wireless technology company specialising in developing, manufacturing and licensing mission critical radio technologies for wireless equipment manufacturers and network operators around the globe. With a particular focus in the public safety, defence, utilities, transportation and resource sectors, Etherstack's technology and solutions can be found in radio communications equipment used in the most demanding situations. The company has Research and Development facilities in London, Sydney, New York and Yokohama.

 


Contact

Etherstack
David Carter, Chief Financial Officer
T: +61 2 8399 7500
www.etherstack.com

Media: Walbrook Investor Relations
Mr. Ben Knowles
T: +61 426 277 760
ben.knowles@walbrookir.com.au



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