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Audinate Group Announces Results for Financial Year Ended 30 June 2020

20 Aug 2020  |  08:27:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Audinate strongly positioned to deliver on its strategy

Audinate Group announced its results for the financial year ended 30 June 2020 (FY 2020). Gross profit increased over FY 2020 by 10.1% to A$23.2m, due to an improved gross profit margin of 76.6% and a 7.1% increase in revenue primarily due to USD/AUD exchange rate benefits. In USD, revenue was US$20.4m compared to US$20.3m in the prior year, reflecting the Q4 FY 2020 impact of COVID-19. At year end Company had cash on hand of A$29.3m reflecting an increase in operating cash flows of A$4.8m, investing cash outflows of A$8.8m primarily related to software development costs and financing cash inflows associated with the July 2019 Share Purchase Plan.

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