bopo, page-2

I have not seen a letter yet. Interesting gosh, a small div may be good for PR purposes. They would be cashed up as CAPEX has fallen away and no doubt Dial Time is again breaking records Dec/Jan.
As mentioned by an earlier poster one problem is non recurring licence fees from BOPO licence sales in Asia. They were bought to account last financial year. Also i believe BOPO numbers are still disapointing.
Offsetting the above is:
Continued Dial Time growth.
Continued Bill pay growth. Should get TLS Oct/Nov'08.
Greater use of network by third parties - revenue straight to bottom line.
Refinancing will see at least $250,000 savings pa
Lower CAPEX will see more cash which should reduce loans/overdraft which will further reduce interest charges.
Lower D & A will lift NPAT - however they changes to the straight line depreciation method so i am not sure of the size of the reduction.
If they are planning a small div then with a little luck we may be seeing a first half profit around $5 mill.
It is a volume game and volumes are starting to build.
I am disapointed with BXP but continue to hold waiting for volumes to pick up. Also if they can move BOPO then it should do very well..