Ann: Financial Performance and Operations Update , page-6

re: Ann: Financial Performance and Operations... Well, the result has been expected, although didn't expect such a shift towards the first half.

so I'm now expecting 11c EPS for FY14 and 16c for FY15.

If LCM management's expectation for second half is correct, then we should see a ~$16M-$19m EBITDA in FY14.

The downside is that the first half hit is heavier then I would've thought, the upside is that the management has clearly restructured the business to make it more resilient to change. A shift of 50% from 30% in hydrocarbons revenue says a lot about the business knowing which way to steer and clearly moving in the right direction.

The management is great, the financial's are squeeky clean, and the industry is bound to pick up. It's all just a matter of time.