Data#3’s backlog of products for the fiscal year ending June 30 is at least $6 million this year as it faces “significant” product delays.
According to a statement on the Australian Securities Exchange (ASX), Data#3 said it experienced an inflated year-end order of out-of-stock products following the traditionally expected spike in demand during the fourth quarter of the year.
This profit on backorders is expected to be realized in the first half of FY23. For comparison, its backordered product order in FY21 was only $3 million. .
However, Data #3 claimed it would post approximately $44 million in pre-tax net income for the fiscal year ending June 30, 2022, representing 19% year-over-year growth.
Despite the growth, Data #3 said its FY22 result was hurt by ongoing supply chain constraints, particularly those related to large infrastructure projects.
Additionally, supply constraints are expected to continue “well” over the past fiscal year, the solution provider added.
The annual audited results of Data#3 will be published on August 18.
The unaudited release of the solutions provider’s FY22 results comes a day after it promoted managing director of infrastructure solutions John Tan to the newly created role of chief customer officer.
In his new role, Tan will be responsible for focusing on creating and managing strategy and operational direction across the business, particularly around infrastructure solutions, software solutions and software sales. Data#3 services.
Last year, Data#3 broke its revenue records with a 20.3% year-over-year increase, reaching $1.96 billion. Talk to RNA Following its FY22 half-year results, CEO and Managing Director Laurence Baynham was optimistic the company would cross the $2 billion revenue mark.
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