Q Technology forecasts lower ebit, higher revenue

Security technology developer Q Technology (ASX:QTG) expects its 1H ebit to decline by around 50 per cent due to M&A costs, but said its revenue likely grew 66 per cent over the same period

Security technology developer Q Technology Group (ASX:QTG) has revealed it expects its 1H ebit to decline by roughly 50 per cent, as a result of one-off M&A costs.

The company is forecasting an ebit of $280,000 to $380,000 for the half-year, compared to an underlying ebit of $593,000 in 1H10.

This year's results were hit by integration costs and expenses of around $700,000 associated with the $14 million purchase of API Services and Solutions, and a one-off loss of $136,000 accrued though the disposal of former R&D business QRSciences Pty Ltd.

But the company said it expects revenue to grow to around $17 million, from $10.2 million in the previous corresponding period.

It added that it had fully expensed the API acquisition during the half-year, and that the revenue and ebit estimations include only three months' of trading from the unit.

Q Technology, which was named QRSciences before the sale of QRSciences Pty Ltd, offers video monitoring solutions including CCTV, networking and video switching through subsidiary Q Technology.

It also provides locksmith services through API Services and Solutions.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags businessQ Technology Group

More about CTV

Show Comments