Australia's Ai-Media at record low, research report lowers earnings view

Ai-Media Technologies

16/11/2021 03:05

** Shares of Ai-Media Technologies  AIM.AX  slide as much as
13.6% to A$0.670, an all-time low
    ** The media tech co refers to earnings projections in a
research report published by Morgans Financial Ltd on Nov. 12
 urn:newsml:reuters.com:*:nASX8pj81B
    ** Says the report projects co's FY22 revenues of A$61.6 mln
($45.33 mln) and EDITDA of A$0.6 mln, revised downward from
A$70.5 mln and A$9.6 mln respectively in the last research
report
    ** Adds that it does not adopt or endorse the
forward-looking financial projections made in the report
    ** Co has not published earnings guidance for FY22 and Board
does not consider it has a reasonable basis to do so early in
the financial year - AIM
    ** AIM shares on track for their fifth consecutive session
of losses
    ** Volumes are 17.1 times the 30-day average of 265,805
shares
    ** As of last close, stock down 18.4% this year

($1 = 1.3589 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))