IkeGPS Group Limited Reports Sales Results for the Third Quarter and Nine Months Ended December 2017; Provides Earnings Guidance for the Fourth Quarter and Fiscal Year 2018
For the nine months, the company reported approximately 1,750 units sold.
For the year 2018, as per previous guidance the company anticipates achieving operating cashflow breakeven in fiscal year 2018 based on sales won and shipped year to date.
For the fourth quarter, is expected to be a stronger period for Spike sales but, while remaining optimistic about the long-term potential for strong growth, IKE does not expect the targeted 3,000 unit and 50% year on year growth metric to be achieved in FY18.