Free Post Earnings Research Report: SITO’s Quarterly Revenues Almost Doubled

Stock Monitor: Rogers Communications Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 24, 2018 / Active-Investors.com has just released a free earnings report on SITO Mobile, Ltd (NASDAQ: SITO) (“SITO”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SITO. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on March 21, 2018. The consumer behavior and location sciences Company beat revenue estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Rogers Communications Inc. (NYSE: RCI), which also belongs to the Technology sector as the Company SITO Mobile. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, SITO Mobile most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=SITO

Earnings Highlights and Summary

For the three months ended December 31, 2017, SITO’s total revenues soared 97% to $14.7 million compared to $7.5 million in Q4 2016, primarily driven by an increase in the number of campaigns as the Company continues to expand its direct sales force and increase its customer base. SITO’s revenue numbers beat analysts’ estimates by $1.26 million.

During Q4 2017, SITO’s media placement revenues more than doubled to $14.7 million compared to $7.3 million in Q4 2016.

For the full fiscal year ended December 31, 2017, SITO’s total revenues surged 46% to $43.1 million compared to $29.4 million in FY16, driven primarily by an increase in the number of campaigns as the Company continues to expand its direct sales force and increase its customer base.

During Q4 2017, SITO’s gross profit was $6.8 million, or 46% of total revenues, compared to $3.7 million, or 50% of total revenues, in Q4 2016. The decrease in gross profit margin was primarily driven by a change in the Company’s advertising mix on a y-o-y basis.

For Q4 2017, SITO’s loss from operations was $6.9 million, primarily reflected by an expense of $3.5 million related to the settlement of litigation and termination of the IP revenue sharing agreement with TAR SITO LendCo LLC; and an expense of $2.2 million relating to the accrual of bonuses earned by SITO’s executive management team under their respective employment agreements with the Company, related to the achievement of certain performance-based targets.

SITO’s net loss was $6.9 million, or $0.31 loss per diluted share, in Q4 2017 compared to a net loss of $1.5 million, or $0.07 loss per diluted share, in Q4 2016. The Company’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was a loss of $38,700 in the reported quarter compared to a loss of $531,700 in the corresponding period of 2016.

For FY17, SITO recorded a net loss of $14.6 million, or $0.69 loss per diluted share, compared to a net loss of $1.4 million, or $0.08 loss per diluted share, in FY16. The decline in net income was primarily due to an increase in general and administrative (G&A) costs of $6.8 million, excluding certain non-recurring expenses of $6.7 million, primarily related to litigation and other legal matters; an increase in sales and marketing (S&M) expenses of $4.1 million, related to the expansion of the direct sales force and customer management personnel; and an increase in the loss from discontinued operations of $2.2 million.

Balance Sheet Summary

As of December 31, 2017, SITO had $3.6 million in cash and cash equivalents compared to $8.7 million at December 31, 2016. Subsequent to December 31, 2017, the Company closed a $14.8 million public offering; terminated the IP revenue sharing agreement with TAR SITO LendCo LLC; and settled all related litigations for $3.5 million. SITO’s cash used in operations was $3.1 million in FY17 compared to $889,000 in FY16.

Outlook

SITO is forecasting to generate media placement revenues of at least $10.0 million in Q1 2018 compared to $6.5 million in Q1 2017.

Stock Performance Snapshot

April 23, 2018 – At Monday’s closing bell, SITO Mobile’s stock dropped 2.53%, ending the trading session at $3.85.

Volume traded for the day: 141.53 thousand shares.

Stock performance in the past twelve-month period – up 47.51%

After yesterday’s close, SITO Mobile’s market cap was at $99.02 million.

The stock is part of the Technology sector, categorized under the Wireless Communications industry.

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