Senetas Corporation Limited reported earnings results for the year ended June 30, 2018. Record high for the company operating revenue which was up 8% to $18.97 million compared to $17.59 million a year ago, with strong growth in product sales partly offset by lower maintenance revenue. Revenue growth was led by a 39% increase in product sales revenue from Senetas's global distribution partner, Gemalto NV. Profit before income tax (PBT) was $4.44 million (including a $1.36 million impairment of an unlisted investment). PBT prior to impairment was $5.80 million which is at the high end of the guidance range announced in July 2018, and up 10% on the prior period (fiscal year 2017: $5.26 million). Profit after income tax was $1.96 million compared to $2.88 million a year ago (including $1.36 million impairment of an unlisted investment). Net operating cash flow was $5.20 million in fiscal year 2018 significantly higher than fiscal year 2017 reflecting higher sales and a reduction in inventory levels during the year.

With the release of new products and the significant expansion in the company's addressable market over the past year the company expects good sales growth to continue in fiscal year 2019. R&D expenditure in fiscal 2018 was slightly higher than the prior year and is expected to be
similar or slightly higher again in fiscal year 2019.