FY17 Revenue Clarification 1 September 2017 Envirosuite Limited (ASX:EVS or “the Company”) released its results today including continuing revenue for the consolidated group for FY17 of $161k. Envirosuite wishes to highlight that The Company had $1.574m in annualised subscription revenues relating to the Envirosuite platform as at 30 June 2017 - refer to page 8 of the Annual Report. The majority of this revenue related to contracts which were held in corporate entities that also contained Pacific EnviroSuite Consulting, and that were sold to ERM per the Company’s release on 26 June 2017. As a result, such revenue is deemed to be discontinued operations as the those entities have been sold. However, and for avoidance of doubt, those contracts were transferred back to EnviroSuite Limited and its subsidiaries. Envirosuite continues to enjoy a highly recurring, growing revenue from its cloud based SaaS platform. For further background, the Company encourages investors to read and consider the commentary provided in the 2017 Annual Report.
EVS Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
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