Mark Bouris’ TZ Limited (ASX:TZL)
has adjusted its revenue guidance for the full 2015 financial year and spruiked an extremely strong outlook for FY16 and beyond.
The technology company now expects to report sales revenue of between $15 million to $16 million, down from an original target of between $18 million to $20 million.
However TZ has advised it expects to secure between $5 million and $6 million in purchase orders or committed new supply contracts by the end of this month.
This backlog will not be accounted for as revenue for the current financial year but treated as revenue for the following financial year.
TZ reported a net loss of $3.69 million in the first half of the 2015 financial year.