and based on my early analysis of the results today.
QTK added around 3000 NEW clients in the September quarter from the Australian business MINUS Adelaide which has only just come online.
I expect this growth to gain even greater traction in coming months and would expect to see closer to 25k as at the 30th June 2007.
This of course as i have pointed out is solely based on the Australian Model.
China is a "contracted" model.....or if you like a conventional retail model with a recurring annuity from royalty fees.
South Africa will be the same as the Australian Model.
As to projections.
Costs are roughly $1m per quarter (less but lets say $1m)
In 2007 Annuities will be 25k x $300.....$7.5m
Profit from the Australian business will be $3.5m and so on.
However,profits from China will underpin rapid profit growth.
In FY 06/07......QTK will have revenues of roughly $5m from its Australian Business.
If they deliver only 100k units to Beijing......they will have further revenues of $10m USD or say $13m AUD
Profit will be $1m + or - 10%.....and will have a profit from China of $6m AUD
NPBT of $7m for FY 2007.
based on 100k delivered to China.
deliver 200k and the profits soars to $13m
deliver 300k and the profits soar to $20m
and so on.
On worst case scenario.....QTK will have NPBT of roughly $7m for FY 06/07
upside to that is only controlled by deliveries into China.
if they deliver 1m units into Beijing.
QTK would have NPBT of.........roughly $60m AUD
and then add South Africa and so on.
what is QTK worth then?????????
QTK
quiktrak networks limited
