Snakk boosts 1Q revenue 15%, slows cash burn on cost control

Wed, 02 Sep 2015

By Suze Metherell Sept. 3 (BusinessDesk) - Snakk Media, the mobile advertisement developer, lifted first-quarter revenue 15 percent while slowing its cash burn by clamping down on spending. Sales rose to $2.27 million in the three months ended June, from $1.9 million in the same period a year earlier, the Auckland-based company said in a statement. On a year-on-year basis the rate of cash spent fell 83 percent, with $146,000 spent in the first quarter, the lowest for the company in a three-month period, it said. Gross margin rose 70 perc...

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