here is the last announcement released by cdr regarding its...

here is the last announcement released by cdr regarding its operations, there is no mention of payment demands to banks, etc.
there may have been approaches by telcos and private equity because they can see value.

COMMANDER ANNOUNCES FULL YEAR PROFIT
IN LINE WITH REVISED GUIDANCE
27 August 2007 – Commander Communications (ASX: CDR) today announced it had
achieved EBITDA prior to restructure, integration and change in accounting estimates of
$67.2 million for FY07, slightly ahead of its most recent guidance, and up 12.1 per cent on
the previous year.
Revenue for the same period rose to $1.09 billion, an increase of 38 per cent on the previous
corresponding year. Revenue and margin increased substantially in two of Commander’s
three business segments – ICT Hardware and Services.
Commander Managing Director, Adrian Coote said it had been a challenging year for the
company, as highlighted in its previous announcements on franchise deployment and the
company’s conversion to new ICT processing systems, but the company had taken steps to
address these issues.
Mr Coote said: “This has been a disappointing year in a number of respects but we remain
confident that we have taken the right action to put the business in a significantly better
position to grow profitability and revenue.
“The mature franchises are showing strong comparative sales growth, supporting our decision
to embark on this strategy.
“While it is taking longer than planned to fully implement our accelerated franchise initiative,
we have recognised the need to invest in stronger support infrastructure, franchise
management and support staff to ensure the long term success of the program.
“In regard to the ICT processing issue, we have taken remedial action to ensure our
automated processing systems can handle the large volume of transactions from the
combined Commander / Volante Group and we are actively reinforcing customer
relationships.”
There were a number of significant achievements by Commander during the year including:
> substantially completing the franchise deployment;
> negotiating a multi-million dollar contract renewal with Foster’s Group Ltd;
> retaining, renewing and/or extending all major managed services contracts; and
> arresting the downward trend in Volante’s ICT hardware revenue.
Mr Coote said that Commander was well positioned to benefit from trends in convergence
and multi-services offerings and for cross selling products and services in the Enterprise,
Corporate and Government markets.
“Commander has a unique balance of services, ICT and telecommunication capabilities to
service market opportunities in the coming year,” he said.
For FY08, Commander is providing EBITDA guidance of $67-$75 million.
“Given market conditions and the additional investment we are making to put the business on
a strong growth path, we are taking a conservative view on FY08,” Mr Coote said.
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Commander Communications Limited ACN 094 233 539
“As appropriate, we will update the market as we execute our plans to increase profitability.”
The Commander Board has regrettably decided not to declare a dividend for FY07 to enable
investment in the business and maximise growth opportunities.
-- ends --
About Commander
The Commander business has been tailoring business communications and technology systems with
leading solutions to meet Australia’s business needs nationally for over 25 years.
Commander is well known for providing office telephone systems. Through a series of strategic
acquisitions and relationships with leading technology companies, Commander has broadened its
expertise to provide a 360° business communications and technology solution unmatched by any other
Australian ICT organisation. This solution spans office and mobile telephony, IT hardware and software,
Internet and network access, converged solutions, support and maintenance services, software
licensing solutions, infrastructure solutions, software solutions, managed services and strategic
consulting services. Commander has one of the largest business-dedicated technical forces in Australia.
More information is available at www.commander.com.