Sydney – 28 July 2016 – BuildingIQ, a leading energy management software and services company, today lodged its Appendix 4C for the second quarter of 2016.
- Cash receipts were significantly improved from first quarter and amounted to over $1.2m for the half, representing a 33% increase from the prior comparable period in 2015.
- The receipt of the R&D grant from the Australian Tax Office in May amounted to almost $1.7m, resulting in a significant reduction in operating cash outlflow, approximately $0.7m, compared to an outflow of around $2.6m in first quarter 2016.
- A number of other factors impacted cash receipts for the period.
- Two months of receipts from the (US) Department of Energy program were received, with a further catch-up in third quarter following notification of program extension. This represents an improvement from first quarter with a further improvement expected in Q3.
- A favourable impact from the acquisition of Energy Worksite and Facility Worksite, with further improvement in the remainder of the year, after catching up the lag in initial collections immediately following acquisition.
- The true up of a significant utility program will now occur in Q3 (was potentially Q2).
BuildingIQ Company Secretary