HT8Key PointsTotal first half-year revenue is $19.39M...

HT8
Key Points
Total first half-year revenue is $19.39M (unaudited) compared to the corresponding prior year period of $4.1M (373% increase period on period) and full year to June 2020 of $13.6M.14% increase in core IT /CE business revenue in Q2 FY21 compared with Q1 FY21342% increase in core IT /CE business revenue in Q2 FY21 compared with Q2 FY20HT8 December 2020 quarter cash flow was positive $421K (unaudited)Core business maintains the trend of delivering exceptionally strong sustainable growthHT8 continues to provide an extremely attractive and undervalued opportunity to smart investors.

The PPE sales spike has subdued and been replaced by quality growth across core business divisions
HT8 warned that PPE sales would drop and subsequently trail off as the market was flooded with companies jumping on-board. The opportunity however temporary provided HT8 a chance too good to pass up and then rewarded the company with $2.5 million in additional revenue. The massive spike in revenue was a direct result of significant shortages of PPE when COVID-19 was at it’s peak and was always expected to correct itself as PPE companies and other businesses flooded the market. HT8 was nimble enough to pivot and seize on the opportunity at a time when other business’s were flailing and was rewarded handsomely. The market seems to have misinterpreted the quarterly results and overlooked the fact that PPE was always expected to drop off and was just a supplementary opportunity and irrelevant to Harris Technology’s core business of IT and Electronics. To see the real value the revenue needs to be separated between the categories
It then becomes obvious that although overall revenue has flatlined, it is as a result of an expected decline in PPE sales whilst the sale of Electronics, Harris Technology’s core business continues to boom with an increase of almost $1.2 million in revenue.


HT8 has seen massive growth over this financial year including 373% increase period on period and has in fact turned cash flow positive, a fact that seems to have escaped the market. The nimbleness with which Harris Tech has reacted to seizing opportunities is consistent with its business strategy, targeting expansion of new product lines such as gaming and homewares. The business has and will continue with steady and sustainable growth that will deliver value to shareholders should they be quick enough to jump on board this undervalued and well run company.