AmusedObserver, they have to use EV in Aust, don't they, how...

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JCoure

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09/02/15

20:20

Post #: 14724628
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Originally posted by Amused observer ↑

JC,

Not sure all the revenue will be reported this year as it will depend on the project agreements as to how the revenue can and will be reported. Dancing will know this better than I but even with accrual accounting they cant report future revenue unless there is an auditable commitment the value delivered for the revenue occurred in the current financial year. What they can do is accrue costs over into the next financial year where applicable so to improve net profit. They can also fiddle with depreciation to increase or decrease net profit, depending on what they are trying to do at the time.

From a project perspective they may well have milestone payments or even payment thresholds if they are using EV (Earned Value) based project measurement and reporting. This would allow progress payments to made approved on the basis on work done rather than milestones.

Even so;
$5 soon is a safe call.
$6 soon is an enthusiastic but realistic call.
$7 soon is a bullish call but not impossible.
$8 soon is pushing it and they would need to secure 2 or 3 big tenders to do it.
Above that will not happen soon in my view.

But add this to the dividend yield and improved earnings (EBIT or EBITDA) over the next couple of reporting periods and one would be on pretty safe ground.

Cheers.

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AmusedObserver, they have to use EV in Aust, don't they, how else can they do it & have their accounts signed off by the auditors.

DOW Price at posting: $4.26 Sentiment: Buy Disclosure: Held
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