vecommerce up 22%, page-9

re: vecommerce profits up 5356% Yes profit and revenue is up big time on last Dec half, but look at Profit and revenue from June 04 and revenue is down a fair bit. This does not appear to be a seasonal occurance.

CEO Paul Magee got over $1/2m in salary and bonus last year.(Bonus $150,000 or so) Profits were less than this. Revenue $13m.

When he was in charge of SCS he did everything wrong, till it's hardware section was taken over. (too much inventory, too low prices, too much R & D etc) So that with revs of $50m he had trouble making profits in IT then. (mid to late 90s when everyone was making squillions)

I had a look at it again over the W/E to see if his software expertise was any better and I still don't like what I see. Except for directors buying, and in growing industry, I still feel VCM under Magee will not grow to it's potential. He's behind where he said he'd be by now when he directed VCM to voice. For me there are better opps elsewhere.