1q09 cashflow numbers and my 09 forecast, page-6

I am pretty certain it will be another record and I think 12.5-13m is achievable, with possible surprise on the upside.

Forecasting cash receipts is tough because of the lag. It is easier to forecast revenue.

Historically, Sirtex's annual dosage sales (not in terms of revenue but units) is more than 4 times 1Q dosage sales. Using the 1Q09 dosage sales as a guide, full year dosage sales will be at least 3,200. It is not difficult to see why i think revenue will be 50%+ higher than 08 given the increase in dosage sales and the decline in AUD.

I believe 09 EPS will support a share price of $4-5 and 11 EPS will support a share price above $10. Judge me in 10 mth's time but 2009 will be the year where profit start to accelerate. Sirtex has superb economics and once the required economy of scale is achieved, profits will continue to increase at a much higher rate than revenue.