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- Data centre specialist DXN (DXN) has posted a 65 per cent increase in sales over the first half of the 2021 financial year
- Sales over the half-year period totalled $4.1 million, up from $2.5 million at the end of 1H FY20
- DXN ended December with a reduced loss, posting an earnings before interest, taxes, depreciation and amortisation (EBITDA) loss of $225,854
- Its net loss after tax also improved, dropping from $6.1 million at the end of 1H FY20 to $2.37 million at the end of December
- Pleasingly, the business signed a number of new contracts over the half-year period with a total value of $3.6 million
- DXN shares ended Thursday trading up 6.25 per cent at 1.7 cents each
Data centre specialist DXN (DXN) has posted a 65 per cent increase in sales over the first half of the 2021 financial year.
The company released its half-year financials on Thursday, revealing sales over the half-year period totalled $4.1 million, up from $2.5 million at the end of 1H FY20.
DXN also ended December 31 with a gross profit of $1.42 million, an increase of 158 per cent year on year.
Despite the strong gains in sales and profits, the tech stock still ended December with a loss.
However, the company managed to reduce its loss by posting an earnings before interest, taxes, depreciation and amortisation (EBITDA) loss of $225,854.
Comparatively, it ended the previous corresponding period with an EBITDA loss of $2.75 million — a reduction of 92 per cent.
DXN’s net loss after tax also improved over the half year, dropping from $6.1 million at the end of 1H FY20 to $2.37 million at the end of December 2020.
“DXN has made significant progress with its restructuring and strategy implementation and the benefits began to emerge in 1H FY21,” CEO Matthew Madden commented.
“We are seeing positive results with regards to cost containment and improved efficiencies being achieved at DXN’s new manufacturing facility,” he added.
Pleasingly, DXN also revealed it signed a number of new contracts over the half-year period with a total value of $3.6 million.
Amongst the new clients are Newcrest Mining, CPS, Streamline Connect and with APX Partners.
“The pipeline of new business opportunities continues to be strong and this is expected to support sales over the remainder of FY21,” the CEO concluded.
DXN shares ended Thursday trading up 6.25 per cent at 1.7 cents each.
