Unwired stems cash outflow

Stephen Withers
Tuesday, 16 January 2007 10:53

IT Industry - Listed Tech

Unwired's cashflow moved in the right direction last quarter, due mainly to  the completion of its initial roll-out in Melbourne, improved customer receipts, funds from its leasing facility, and an AusIndustry grant.

Overall, net operating cash outflows fell 69 percent to $0.6 million, and the cash balance rose from $10.3 million to $10.5 million.

Unwired warned that capital expenditure is likely to rise again to support its planned WiMAX deployment. "We are focused on running our current business and ensuring our transition to WiMAX is one efficiently and cost effectively. We have stated previously that additional funds will be needed to grow the business beyond Sydney and Melbourne but we will only do this at the right time and the right price for our shareholders," said CEO David Spence.