ASX-listed distributor Dicker Data (ASX:DDR) has expressed its confidence in reaching more than $1 billion in revenue for the full financial year.
Revenue for the first quarter of FY2015 was $240.3 million, representing a 106 per cent increase on previous corresponding quarter.
“This is a strong start to the year and within our projections,” Dicker stated. “As we head into the June quarter, which has traditionally been a strong revenue quarter, we are confident of revenue finalising greater than $1 billion for the full year.”
Underlying profit for the quarter sat at $6.2 million. There were further restructure costs that were incurred during the quarter, predominantly redundancy costs of $1.1 million.
During the comparative quarter there was forgone margin and profits as part of vendor reorganisation and restructures in order to complete the Express Data acquisition.
Dicker estimates the cost to EBDITA and profit to be about $2.6 million.
Underlying pre-tax profit has increased 130 per cent to $3.5 million.
“The next two quarters have traditionally been our strongest, and with the recent announcements of new and expanded vendor partner alliances, I am confident that we are on track to reach the full year results provided in our guidance,” Dicker said.