Quickstep Holdings Limited Announces Unaudited Earnings Results for the Second Quarter and First Half of Fiscal 2016; Provides Sales Guidance for the Full Year of Fiscal 2016 and Cash Flow Guidance for the Third Quarter of Fiscal 2016
The company achieved an unaudited positive operating profit in first half of fiscal 2016; following on from a profitable second half of fiscal 2015. Operating profit in the first half of was generated by Aerospace Manufacturing; offset by some one-off costs and the ramp-up of R&D investment to support future growth, with $1.2 million expended in the period. Operating cash outflow of $0.8 million for the half year.
The company provided sales guidance for the full year of fiscal 2016 and cash flow guidance for the third quarter of fiscal 2016. The company expects fiscal 2016 sales of $48 million, which represents annual sales growth of 20% compared to fiscal 2015.
It is expected that the company will return to positive cash flow in third quarter of fiscal 2016.