Looking at the schools they have become involed with in 2009 it was 370 2010 575 2011 698 2012 808 and 5 months into 2013 940 schools a compound rate of growth of 31.5%pa (this year so far the run rate is 38%) then looking at the revenues which have gone from $1.9M in 2009 to $2.6M in 2012 11%pa how can this be? the fact is some of the schools they have been in for a long time they make $35K a year off where as some of the recent ones they are making $0.7K a year off so when they get the hard part of getting into schools in the first place out of the way, apparently then it easier to run up the sales per school on a like for like basis. The guidance of 15% growth will likely be met in revenues and eps for the FY13 in my opinion.
MWR Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
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