Media Release
Quarter Ended 31st December - 4C Filing
21st January 2003
CASH USE SLOWS
Webjet today announced a net usage of cash for the above quarter of $514,000, which compares to the previous quarter 30th September 2002 of $653,000; an improvement of approximately 20%.
Net operating cash use was $405,000 (previous quarter $529,000); an improvement of approximately 25%.
The quarter included capital investments in technology and associated matters of $109,000.
Gross transactions for the quarter (filed on the 9th January) totalled $4.7 million. Total half-year gross transaction values totalled approximately $9.8 million, which compares with the same period ended 31st December 2001 of $4.8 million; an increase of in excess of 100%.
As foreshadowed in our release on the 9th January, transaction values for the month of January have shown a further increase and if sustained suggest that gross transaction values for the month of January will be approximately 100% up on January 2001. If that pattern is sustained in projections for January, February and March (and there can be no guarantee that can occur), transaction values for the first quarter of 2003 should fall within a range of $6 million to $7 million, compared with the same quarter 2002 of $4 million and would indicate a net usage of cash in this quarter of approximately $200,000.