AEI Valuation Discussion, page-5

I am thinking the same thing for FY20. Somewhere between $16-$18m total revenue for the 12-month period ending in June. I.e assuming that revenue in May/June will be about $5-7m, along with the $4m earned in April for a total of $9-$11m for the quarter.

My assumption about revenue is based on the March Quarter and April month result being ‘the new normal’ for the company’s sales going forward. Based on April revenue of $4m (with $2m of back-orders carried through to May) I don’t think it’s an unreasonable estimate to project $3m revenue per month

I will admit it really needs more validation with updates from the company to confirm that this a sustainable level of sales though

I also take Access2020’s point about fixed costs increasing over time. That’s something I’ll need to do some further thinking on for my model