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DUG Technology Reports Higher Fiscal Q3 Revenue; Ends Quarterly Updates; Shares Gain 9%

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-- DUG Technology (ASX:DUG) reported fiscal third-quarter revenue of $22.4 million, up 35% from $16.5 million a year earlier, according to a Friday filing with the Australian bourse.

The company also reported quarterly normalized earnings before interest, taxes, depreciation, and amortization of $7.3 million, up 37% from $5.3 million in the year-ago period.

DUG Technology ended the March quarter with a cash balance of $24.4 million, an increase of 50% from $16.3 million a year earlier, per the filing.

Additionally, the company said it no longer believes that quarterly updates are "the most effective way to communicate the health and direction" of its business. As such, it will only report half-year and full-year results going forward.

DUG Technology shares gained 9% in recent Friday trade.

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