Outlook: Revenue growth sustained at 40% in H2
FY14 revenues for NetDimensions (AIM: NETD, OTCQX: NETDY) grew by 40% to $22.7m, compared with January’s guidance of at least $22.0m, and well ahead of the previous $20.0m guidance. The adjusted loss and cash generation were also ahead of our forecasts. The industry outlook remains favourable and the group looks well placed to achieve its goal of $50m revenues by FY18. While there has recently been a de-rating in its US peers, these peers continue to trade at significant EV/sales premiums and we continue to believe NETD shares could warrant a significant re-rating.
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