annual result maiden dividend , page-8

Firstly thanks Romatique for your detailed post.

As firsova mentioned EBITDA for the FY2011-12 was $667,000 and around 4.2% of revenue. This is significantly lower than the 7% you suggested.

I am not confident we will see a jump to 10% for FY12-13 given revenue was relatively unchanged but based on information from the quarterly report EBITDA could be around $1.3 million or 8% of revenue.

My estimate of 0.63 cents per share is a NPAT figure and not EBIT, there may have been a misunderstanding there. I assume dividend calculations are made based on NPAT and not EBIT. Obviously my numbers are very rough.

In regards to debt, the quarterly suggested that debt has was reduced by $2.1 million during the last FY, which would leave the company with around $4.5 million of debt at June 30. Are you expecting further debt reduction to be included in the annual report (from your point 2)? Perhaps I don't fully appreciate the differences between cash flow and final reports.

Announcing a dividend now would strengthen the share price but would be better spent on debt reduction or growth strategies in my opinion.

I am definetely looking forward to seeing the full year accounts.