Xtract One Posts 144% Fiscal Q4 Revenue Growth as Bookings Fall

Xtract One Technologies Inc. posted a 144% fiscal fourth-quarter revenue increase to C$8.17 million, while lower bookings and gross margin pointed to a mixed operating picture. Revenue for the three months ended July 31 was up from C$3.35 million a year earlier. Deployments of the company’s Xtract One Gateway systems and revenue recognized from contractual backlog contributed to the increase. All amounts are in Canadian dollars. New bookings, measured by total contract value, came to C$6 million, down from C$16.5 million in the prior-year quarter. Gross margin was 57%, compared with 71% a year earlier.

Source: TokenPost