IkeGPS Group, the laser measurement tool developer, says first-half sales more than doubled, and it affirmed hopes of meeting its annual revenue forecast as better-than-expected sales of its smartphone products made up for lumpy demand for its MapSight data collection tool.
Revenue and other income rose to about $4.5 million in the six months ended September 30 from $1.7 million a year earlier and was ahead of budget for the period, Wellington-based ikeGPS said.
Gross margins grew at about the same pace, and the company said the net loss would be in line with expectations when the results were reported on November 20.
The company affirmed its forecast for annual revenue of about $14.3 million, though it said the product and revenue mix would differ from its prospectus projection, with smartphone products such as Spike and Original Equipment Manufacturer receiving a stronger uptake than expected, with "the potential to grow associated revenues more quickly than planned".
That made up for a downside risk to projected sales of its MapSight product, which faced lumpy sales "in associated large enterprise" processes.
