IkeGPS narrows annual loss through sales growth, trimmed wage bill

Wed, 30 May 2018

By Paul McBeth May 31 (BusinessDesk) - IkeGPS, the unprofitable laser measurement tool maker, narrowed its annual loss after lifting sales 37 percent and cutting a fifth from its wage bill, and is optimistic positive cash flow generated in the fourth quarter will persist, meaning it won't need to raise more capital. The Wellington-based company reported a net loss of $6.7 million, or 9 cents per share, in the 12 months ended March 31, compared to a loss of $10.6 million, or 18 cents, a year earlier, it said in a statement. Operating reve...

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