Management have failed to outline exact one-off costs, and also failed to outline the DataMorph contribution (as a result of tax breaks).
Taking a very rough approach and exclude some one-offs, I calculate an NPAT of 700k. Adding in the tax paid, it becomes 850k - on par with the 1.6m made last year. And none of this includes the Arte Mobile acquisition.
It's a fair bet though that the market does not go into so much detail, so it'll see the bottom line loss and assume the company is a basket case. Share price may catch up in a year or so - happy to hold till then.
ICU Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
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