3 ASX All Ordinaries shares being sold off following FY22 results

The All Ordinaries Index (ASX: XAO) is in the green today, lifting 0.72%, but these shares are defying its gains. They’re each trading lower on the back of their companies’ latest earnings being released.

Let’s take a look at how these three ASX All Ordinaries companies performed in financial year 2022 (FY22).

Atomos Ltd (ASX: AMS)

The Atomos share price is plummeting 16% to trade at 24 cents after the company dropped its earnings for FY22. That’s despite the manufacturer and distributor of video equipment posting record revenue for the period.

That’s right, Atomos brought in $82 million of revenue in FY22, a 4.3% improvement on that of the prior corresponding period (pcp).

However, its net profit after tax (NPAT) tumbled 243% to a $6 million loss and its earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 115% to a $1.2 million loss.

The company’s results were weighed down by several one-off expenses. But it expects the momentum experienced in the final quarter will continue into FY23.

PPK Group Limited (ASX: PPK)

The PPK share price is also suffering on the back of the company’s full-year earnings. It’s falling 0.9% right now to trade at $1.62.

That’s despite the company’s revenue doubling in FY22, lifting to $1.6 million. Its loss also came in at half that of FY21, improving to reach ($2.5 million).

However, the company declined to pay a final dividend for the second year in a row, bringing its full-year payout to 2.81 cents per share. That’s down from FY21’s total dividends of 3.5 cents.

Commentary on some of the company’s segments might also be weighing the stock down today.

CogState Limited (ASX: CGS)

Finally, ASX All Ordinaries share CogState is plunging 5.6% to trade at $1.60. Its fall has come on the back of full-year results released by the cognition-focused technology company.

The share price dip is despite the company posting around US$45 million of revenue for the period, a 37.6% increase on that of the pcp.

It also brought in US$13 million of EBITDA – a 127.8% lift, and $7.5 million of NPAT – a 43.7% improvement.

The post 3 ASX All Ordinaries shares being sold off following FY22 results appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Goldman Sachs tips NextDC share price to rise 40%
• Another ASX 200 CEO has just offloaded almost $3m worth of shares in his company. Here’s the lowdown
• What’s the outlook for the Westpac share price in September?
• Could this give some ASX lithium shares the edge?
• Could this new piece of legislation be a boost for ASX lithium shares?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Atomos Ltd and CogState Limited. The Motley Fool Australia has positions in and has recommended CogState Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/g39cnoT