By Christian Moess Laursen
Focusrite said it expects earnings for fiscal 2023 to be within market views, though revenue is expected to fall.
The U.K. music-and-audio-products company said Thursday that revenue is expected to be no less that 177 million pounds ($221.1 million) in the year ending Aug. 31, a slight decline from GBP184 million in fiscal 2022. Revenue in the second half slightly topped the prior-year figure, the company said.
Earnings before interest, taxes, depreciation and amortization is expected in the lower end of a company-collected market consensus range of GBP38.2 million to GBP39.0 million, supported by improved gross margins.
Focusrite said it is showing growth over prepandemic levels and has retained its market share despite challenging markets, particularly in Asia.
“We are pleased with our full-year results and the strategic progress the group is making against the background of extremely challenging trading conditions throughout the year,” Chief Executive Tim Carroll said.
Write to Christian Moess Laursen at [email protected]
Read the full article here