buyers galore, page-16

Another happy shareholder checking in. Key points:

Amcom's core product, fibre-based data services for Enterprise and Government, have a high barrier to entry for new players, and new services can be delivered over this existing network at nearly zero marginal cost.

Amcom's new voice and cloud services leverage this fibre asset further as a channel for delivery of new services, with Amcom controlling end-to-end quality of service because they are using their own network.

The existing base of clients mean Amcom's sales force can very effectively cross-sell VOIP and Cloud solutions to their existing clients.

Selling for 12.4x earnings, AMM is still a bargain for a business which is still growing rapidly, especially with new services coming on stream.

I have written about AMM here: http://ausvaluediary.blogspot.com/2011/02/amcom-mid-year-results-amm.html