Wednesday, June 19, 2019
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Tech: Dreamscape is progressing after big earnings update

Dreamscape (ASX: DN8) After a strong earnings update this morning, investors have a good book.

The company – owner of the online registrar Crazy Domains and the web hosting platform Vodien – announced that it has been on its way since the beginning of 2016.

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Net income for the full year is now expected to be in the range of $ 4.3 to $ 4.9 million, well above the $ 2.7 million reported in fiscal 18, based on unaudited figures as of March 31.

The shares in DN8 initially rose by up to 50 percent in the morning trade to a 12-month high of 15 cents.

Online growth

CEO Mark Evans said Dreamscape is well positioned to capitalize on continued expansion into online website domains.

Crazy Domains is an online site registrar that sells hundreds of domain names, including .sydney and .menu.

"With the potential to release the abridged .au domain registration in fiscal year 20, I believe we will continue to leverage our current momentum," Evans said.

He reiterated that past investment in infrastructure also provided a platform to keep costs low and maintain steady growth in the Southeast Asian markets.

Dreamscape said total domain bookings grew by around nine percent in the second half of fiscal 2019.

"The full benefit of the hard work of management will be evident in fiscal year 20," the company said.

In other ASX tech news today

Internet providers Spirit Telecom (ASX: ST1) announced the acquisition of Building Connect, a licensed telecommunications company operating a predominantly fixed wireless network. ST1, which offers its service as an alternative to the NBN, will acquire 100% of Building Connect for a company value of $ 300,000, which is paid into shares. Building Connect provides telecommunications services to 31 commercial and commercial properties in Western Sydney.

Shares of ST1 rose 5.88 percent to 18 cents in the morning trade.

And defense technology companies Xtek (ASX: XTE) has made the first international sale of XTatlas, its real-time video surveillance method that can be connected to unmanned aerial systems. Xtek shares rose 1.12 percent to 45 cents in the morning trade.

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