blinkx first profits
November 10, 2010
blinkx has turned its first profit in the six months to September, more than three years after the flotation of the online video company. Revenues doubled to $27.4 million with a pre-tax profit of $2 million compared with losses of $7.3 million in the same period last year.
Because blinkx’s operating costs are growing at a much slower rate than revenues, Suranga Chandratillake, chief executive said he expects steady profits in future. “It was painful for a while getting to that level… Now we have broken through into profit, it should scale very nicely.” The size of an average campaign booking grew by 40 per cent over the past six months, Chandratillake said.