First explain the $8.055M discount on acquisition and how that contributes to "profit"?? - some creative accounting and loosely using excess "Goodwill" as "immediate profit". Take out $8.055M - they are making a loss and add in finance costs for the full year (MPH acquisition).
Most companies only take on acquisitions when they are cash flow +ve, AXP were cash flow -ve and they still took on acquisitions without fixing their high corporate, high overhead and high running costs. It is simple mathematics and most engineers get this, but not these ones
As I've said before, revenue is irrelevant if you are making a loss (or cash flow -ve) but hey, they just found $8.055M in the back of the couch
AXP have made too many legal breeches for ASIC not to have a closer look. Invest away if you are a hype trader, hopefully newbies ignore the noisy one liners and read those who actually post intelligent informative posts.
AXP Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
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