News and Announcements
SUDA Reports 3Q Increase in Receipts & Positive Net Operating Cash Flow
- Published April 29, 2016 2:22PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
29th April 2016, ASX Announcement
SUDA LTD (ASX:SUD), a leader in oro-mucosal drug delivery, today released its Appendix 4C for the consolidated Group for the third quarter of FY2016. Receipts from customers for the period were $1.6 million, an increase of 7% quarter-on-quarter and up 8% from the same in FY2015. The Company generated a positive net operating cash flow of $0.5 million for the third quarter, compared to a loss of $0.8 million in the previous quarter.
The receipt of $0.7 million from the Australian Taxation Office under the R&D Tax Incentive and also $0.04 million under the Export Market Development Grants (EMDG) scheme boosted the operating cash flow for the third quarter. The cash position as at 31 March 2016 was $3.6 million.
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