Tuesday November 3, 08:36 AM
UPDATE 1-Blinkx H1 loss widens; to raise 5 mln stg via placing
* H1 revenue $13.1 mln vs $6.4 mln in the year-ago period
* Plans to place 27.9 mln shares at 18 pence apiece
* Price represents 7.7 pct discount to Monday close
* Shares rise 5.13 pct
(Adds details)
Nov 3 (Reuters) - Online video search engine Blinkx Plc posted a wider first-half loss on increased expenses even as its revenue doubled, and said it would raise about 5 million pounds ($8.20 million) before expenses through a share placing.
The San Francisco and London based firm said it planned to place about 27.9 million shares at 18 pence apiece.
This represents a discount of 7.7 percent to the stock's Monday closing of 19.50 pence.
'Despite being fully funded, the placing will provide capital to allow Blinkx (LSE: BLNX.L - news) to seize growth opportunities that will arise as the economy recovers,' the company said in a statement.
Pretax loss widened to $7.3 million for the six months ended Sept. 30, compared with $3.4 million in the year-ago period.
However, revenue rose to $13.1 million from $6.4 million in the year-ago period.
The company said its customers included more new brands and repeat orders, resulting in a 238 percent increase in advertising campaigns over the previous half.
Shares of Blinkx rose 5.13 percent to 20.5 pence by 0815 GMT on Tuesday on the London Stock Exchange (LSE: LSE.L - news) .
($1=.6101 Pound)
(Reporting by Purwa Naveen Raman in Bangalore; Editing by Maju Samuel) Keywords: BLINKX/
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
