Somoto Ltd. Provides Preliminary Guidance for the Third Quarter, Fourth Quarter and Full Year of 2016
Somoto Ltd. provided preliminary guidance for the third quarter, fourth quarter and full year of 2016. For the third quarter, revenue is expected to total $11.3-11.6, rising 82-87% compared with the corresponding quarter in 2016, as well as a slight, 1-3%, rise in revenue from the last quarter. The EBITDA is expected to be $3.4-3.7 million, a 95-97% jump from the corresponding quarter and a 25% decline from the last quarter.
As for the fourth quarter, the company provides a strong forecast predicting $17-18 million revenue, which reflects 119-143% growth compared with the fourth quarter of 2015. As a result, the company's annual revenue of 2016 may reach $50 million, reflecting 70% growth compared with 2015, and $16.1-17.0 million EBITDA, 72-80% rise from 2015.