Isentia Books Loss On Writedown
Media monitoring and intelligence company Isentia Group has swung to a net loss of $34.3 million because of writedowns.
Revenue for the financial year fell to $122.5 million from $137.14 million but was in line with guidance.
Isentia said the net loss was due to a $41 million writedown of “previously recognised intangible assets”.
Australia and New Zealand’s contribution to Isentia’s full year revenue was $87.6 million. Software as a service (SaaS) revenue fell to $69.48 million, while revenue from value added services (VAS) was flat at $18.16 million.
Underlying net profit for the business was $9.2 million.