If one takes a look at the AGI 2013/14 financial results you will see a healthy looking company. The company gave a first term warning of weaker revenues (down 30%) and everyone drops their bundle. It proves that the market is run on emotion.. Yes, there are forecasters who have kept their mouths shut on expected future performance and others who have forecast poor performance into the future.
Yes, the company has had poor returns in Australia but good returns overseas (which is just 30 % of their market). AGI has already made one step towards increasing its os market with its alliance with Playttech.
Congratulations to those who sold a while back. Maybe it's time to buy back. Maybe it's not.
A reminder-
Ainsworth Game Technology reported NPAT up 18% to $61.57m for the year ended 30 June 2014. Revenues from ordinary activities were $244.12m, up 23% from last year. Basic and Diluted EPS was 19.0 cents compared to 16.0 cents last year. Net operating cash flow was $57.6m compared to $31.57m last year. The final dividend declared was 5.0 cents, taking the full year dividend to 10.0 cents compared with 8.0 cents last year.
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