IkeGPS narrows full-year loss, looks to 'strong' FY2020 performance

Thu, 30 May 2019

By Gavin Evans May 30 (BusinessDesk) - Utilities measurement specialist IkeGPS narrowed its full-year loss on the back of lower corporate costs and reduced cost of sales. The company posted a $5.1 million loss for the year ended March 31, down from the $6.7 million loss reported a year earlier. Revenue increased to almost $8 million from $7.7 million, with most of the earnings improvement due to a $1.1 million reduction in Ike’s cost of sales. Operating expenses fell to $10.6 million, from $10.8 million the year before, with lower corp...

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