is it time to buy into dtl?

DTL (Data#3) has had a very good track record and it's profits and share price and have been the victim of the downturn in I.T spend nationally. This has been a result largely of the tightening of belts within corporate Australia and the lack of Govt spending on I.T post the GFC. There was also the period of uncertainity concerning who would be in Government.

Throughout these times DTL has shown it's quality by continuing to be profitable and winning I.T contracts. The last half however; to quote the company has been the toughest on record for I.T contracts. However DTL continued to be profitable and have announced a 1.5c ff div for the half. Current share price 78c.

Company guidance is that they are looking to equal FY13 profit despite the first half result. That is; they are looking to make two thirds of this years profit in the second half. The company admits that the target is aggressive and the following are quotes from the DTL results briefing.

"Activity is increasing... the purposeful nature of activity levels we've got now.I'm very pleased about that.
We look at our pipeline and we have specific systems that measure the pipeline on a day to day basis and our pipeline is building".

"I guess as everyday goes past even given the concerns we had in the first half we're feeling much more that it's not beyond our reach. We can't give any more specific guidance that that".

"We're in a better place than we were in the first half and we're very pleased about that".

(I was at the AGM late last year and listened to the profit briefing for the recent half. I suggest you listen to the full "outlook statement" that was part of the recent profit briefing. The above are just selected quotes).

Since the half yr books closed DTL have announced two contract wins.
"DTL secures long-term IaaS agreement with McInnes Wilson"
and
"DTL awarded cloud services contract with WorleyParsons"

I first bought shares in DTL in Sept 2009 and again in late 2010 before selling about half of them in Feb 2011 when I felt that the price had out run reality) .
Today I went back to the market and bought again.

My investment thesis is that there seems proportionately much more upside here than downside risk.

Worst case (and it seems unlikely) DTL is only able to copy the first half result and I get another 1.5c ff for a total of 3c ff in the next 13 months on a share that today is trading at 78c. I end up owning more shares in a great company with wonderful management and a tremendous track record that is poised to benefit from any lift in I.T spend (and it must lift sooner or later because it is the nature of I.T that if you leave it too long to update, your company becomes inefficient in comparison to others and your profits suffer)and I get a yield of around 4% ff while I wait.

Virtually any other scenario is a better outcome than the very good one I have outlined above.
If they do manage to reach the target of 2/3 of profit in second half we're looking at a ff yield above 5.5% and no doubt a much higher share price.

I would be the last one to try and predict the short term share price movement and as I gave that game away long ago I bought today based on the story above.

Is it time to buy DTL? I voted with my money.