Dicker Data says it’s confident of cracking the $1 billion in revenue for this year, despite a paying out a further $1.1 in million redundancy costs in Q1 2015.
In its latest Market Update to the ASX, Dicker Data says revenue for the quarter was AU$240.3 million – 106% higher than the comparative quarter last year, when revenue was $116.8 million.
“This is a strong start to the year and within our projections,” David Dicker, Dicker Data chairman and chief executive, says.
“As we head into the June quarter, which has traditionally been a strong revenue quarter, we are confident of revenue finalising greater than AU$1 billion for the full year.
“The next two quarters have traditionally been our strongest and with the current 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 adds.
The company recorded profit of $6.2 million for Q1, but says further restructuring costs of $1.1 million were incurred and Dicker says he expects further restructure costs this quarter ‘although they should not be material’.
“Although the bulk of the restructure costs have already been incurred, we are continually working to adjust our base cost structure to optimal levels,” he says.
The company announced in its preliminary final report for last financial year that it had incurred one-off non-recurring restructure costs of approximately AU$4 million in the six months to 31 December, with a further $500,000 in redundancy costs incurred in January.
At that point the company had cut 110 staff from its combined headcount as it streamlined overlap in the combined business.