IkeGPS cuts revenue forecast as orders for new product delayed to 2017

Thu, 28 Jan 2016

By Sophie Boot Jan. 29 (BusinessDesk) - IkeGPS, which this month raised $900,000 from institutional investors, has downgraded its sales outlook for the 2016 financial year, citing a delay in orders for its new product to the first half of 2017. The Wellington-based company expects revenue of between $9.2 million and $11.5 million in the 12 months ending March 31, from a previous forecast range of $12 million to $14.3 million, it said in a statement. That's up from the $4 million of revenue reported in 2015 when ikePGS missed the $6.5 mill...

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