Ann: Preliminary Final Report-AJX.AX, page-46

This report shows things are moving in the right direction. I’m sure some will be disappointed with revenue at $3.5m for the half but I think it’s good.

If we get $US10m of the $US18.5m in the December quarter that’s $US40m on an annual basis. Add in the $US15m they say for Alexicool and we have $US55m or $A72m in a full year. With a margin of 30% (I expect this may even be higher once we move into new premises and expand manufacturing capacity) then we have $21.7m and less say $11.7m for overheads leaves us with EBIT of $10m. That’s not bad for what we pretty much know is in the bag. Sure there may be some delays with testing, implementation, production runs, cash hitting the bank account but this will come and I can only see upside from here. Think of those 365 leads for Alexicool and the 165 customers.