new intevia model, page-3

zo po mo

Yes looking good! Costs were up but that is well expalined in the review as due to the necessary infusion of funding to get Intevia established with customers. The new model is also probably quite conservative as there are more applications, more customisations and more sales happening all the time. In particular automotive revenue may well ramp up faster than they are predicting.

We (amex, kpool and I) have been expecting that NASDAQ in 2008 would be based on an increased 2009 revenue .. and here we have it .. up 50% on the previous estimate from March. This model shows perhaps earnings (profit) of something around or less than US$35m by 2009 plus the review indicates that PDT earnings should pick up ... so perhaps another US$5m by 2009. That's around US$40m plus whatever any acquisition brings in terms of earnings. Even if you assume nothing from acquisitions at US$40m earnings the float price should be well over the US$5 minimum even if there are eventually 80m shares on issue (I reckon there will be 60m minimum and more likley 80m once Oasis converts, options are exercised and shares are issued in the float).

Nice!

H