Blinkx results to 31st Mar 11 were even better than indicated in the trading update that we reported on 8th Apr 11 – See Blinkx Sweet spot. Highspots are a nearly doubling of revenues to $66.1m and profits of $16.2m against losses of $7.2m last year. Net cash generated was $8.4m. Blinkx has now completed the acquisition of Burst Media for $30m announced in April.
Blinkx claims to be ‘the world’s largest and most advanced video search engine”. To say this is a current ‘sweet spot’ is to understate the potential. Video – from personal to commercial – is white hot right now. Indeed the serving up of video ads is estimated by eMarketer to be the “fastest growing on line ad format”. That’s why the acquisition of Burst was so well received.
Since the Burst acquisition was announced on 8th Apr 11, Blinkx shares are up 25%. Blinkx is up 71% in 2011 todate. Indeed that’s the best performing share in the ‘Holway Portfolio’ this year – by a mile!
Note – Richard Holway has been a Blinkx share holder since their IPO in May 07 at 45p .