Ann: Chairman's Address to Shareholders , page-8

Agree with post above re: tacit earnings guidance. They basically said they expect to use up most if not all existing losses so you are looking at a range of say $2.2m - $2.9m NPAT. Bearing in mind over a million of this will come from the steadily growing servicing of machines (rather than the more choppy sales) then it is not that hard to achieve.

It is hardly surprising that they aren't going to match last years exceptional jump in sales and profit. but lets say they achieve a $2.5m profit this year - what you have is a company that will have just done two years in a row of 15c eps or above and sitting on a cash pile by then of around $9m (or $7m if you want to deduct the mortgage - which is, in any event, secured by conservatively valued $3m in property)......that $7m is worth 40cps and can be used to for an aquisition giving more stable cashflow or to moderate a healthy fully franked dividend from fy15 onwards.

Falling A$ continues to help them no doubt.

happy to let the panic merchants drive it down further tomorrow or in coming weeks so i can pick up some cheap. Their earnings skew to the 2nd half might also frighten some in February - but come June-August next year the punters will be driving this one back up.

Interested in more analysis from those who made the AGM. Shame that they weren't a bit better communicating with you. Not sure what the issue is behind the potential board spill - no doubt that had them in a shirty mood. i wouldn't make too much of it. they clearly enough have the votes to get the 50% needed (plus they'll have some of mine they didn't have for this). that means at least 2 more years before any further drama.