Back on 18th January you asked me to “stick around”……
“Heh Ocker,
Great to have you on board...
Can you make me just one little promise...?
Will you promise ... to stick around this thread in say mid Feb to early March period...?”
Well the time has come to revisit our debate of the time.
In essence I had the temerity (in your eyes) to challenge your financial forecast of ITE for 2007. In case you have forgotten, let me remind you. You forecast 2007 income of $44.5mio, costs of $17.5mio and a NPAT of $27mio.
Relative to your forecast the first half results were Income of $3.8mio, costs of $8.7mio and a LOSS of $4.9mio.
To meet your full year forecast means they are gonna have one helluva fantastic 2nd half (lol). Then again someone on the 11th Jan thread did confidently predict 2007 sales of $100mio!!
The reality is that ITE does not have the scale to ever meet the profitability targets you envisage. Sales take longer than you realise to put into place – institutions don’t just decide overnight to change systems. The real money is in maintenance, which of course needs volume of scale on the sales front.
ITE’s product range is very limited and their best way forward will be to merge with another company (as the company has already recognised)
ITE
i.t.& e limited
