Netcomm Wireless Ltd (ASX: NTC) shares have crashed 41.48% lower to a 52-week low of 79 cents despite delivering record results for FY18 this morning.
• Group revenue up 69% to $181.7 million
• EBITDA up 5.7x to $20.5 million
• NPAT increased to $8.0 million, compared to prior period loss of $(1.8) million
• Operating cashflow up 2.9x to $23.7 million
• Strong balance sheet, with no debt and net cash of $27.3 million.
Netcomm said that during the full-year ending June 30, 2018, it had “fundamentally rebased revenue and profitability, delivered new major contracts for future growth and progressed discussions with Tier 1 Carriers globally to implement tailored connectivity solutions”
Netcomm Chairman Justin Milne said: “I am delighted to see the investments we made in previous periods translate to outstanding growth, as we position the Company to be a successful global connectivity provider.”