MSL Solutions Limited announced consolidated statutory and proforma earnings results for six months ended Dec. 31, 2017. For the period, statutory revenue of AUD 14,390,000 against AUD 9,201,000 a year ago. Loss before income tax was AUD 2,891,000 against AUD 3,925,000 a year ago. Recurring annuity revenue 52% of total revenue, an increase of 30%. Loss for the period was AUD 2,516,000 against AUD 2,920,000 a year ago. Loss attributable to owners of the company was AUD 2,628,000 or 1.1 cents per basic and diluted share against AUD 2,846,000 or 2.0 cents per basic and diluted share a year ago. Net cash flows used in operating activities was AUD 802,000 against AUD 1,869,000 a year ago. Capital expenditure was AUD 100,000 against AUD 48,000 a year ago. Adjusted LBITDA was AUD 213,000 against adjusted EBITDA of AUD 228,000 a year ago. LBITDA was AUD 730,000 against AUD 1,709,000 a year ago. LBIT was AUD 2,972,000 against AUD 3,888,000 a year ago.

For the period the company reported Proforma operating revenue of AUD 14,390,000 against AUD 14,215,000 a year ago. Adjusted LBITDA was AUD 213,000 against adjusted EBITDA of AUD 520,000 a year ago. LBITDA was AUD 730,000 against EBITDA of AUD 520,000 a year ago. LBIT was AUD 2,972,000 against EBIT of AUD 1,721,000 a year ago. NLBT was AUD 2,891,000 against AUD 1,760,000 a year ago. NLAT was AUD 2,516,000 against AUD 1,851,000 a year ago. NLATA was AUD 380,000 against NPATA of AUD 253,000 a year ago.

The company expects to achieve its full year 2018 forecast of AUD 35.5 million revenue, AUD 6.45 million and AUD 5.9 million of NPATA.