I got annoyed today (maybe you noticed) so I've done a timeline of highlights from price sensitive ANN to get back to basics.
(I'm operating on the assumption that the company is being compliant in their ANNs and not making stuff up)
16DEC15 Ann "Foundations for 2016"
Where we first see the US$18.5m secured baseline revenue and potential to hit $44.7m
This is from the following market segments and they're kind enough to explain the breakdown and what the US market size is for us. Remember this is before our international distribution network is built.
Home furnishings - 38% of baseline, base $7m, potential $14.5m from US FR market size $132m
(aside: 16OCT15 we got our second bedding customer and Ann'd expected US$5m annualised revenue)
Defence - 23% of baseline, base $4.2, potential $13m from US FR market size $240m
Workwear - sechedualed trials via iTextiles no $ stated
Transportation - 22% of baseline, base $4m, potential $9m from US FR market size $52.8m
Outdoor - 8% of baseline, base $1.5m potential $4.2 from US FR market size $52.8m
(aside: at this stage product development is working on treatment for cotton tenting with 3 potential customers waiting so they can service UN)
Coatings/Polymers - 9% of baseline, base $1.6 potential $4m of $270m US FR market size
......................... anything below this line is add-ons to our $18.5 baseline.....................................
Since the start of the year, a selection of ANNs of new things, aka upside to baseline:
19FEB16
New customer with new products to be treated, annual run rate +$1.2-$1.5 million implementation time of approx 6 months. (ie: maybe we'll see a portion of this in final Q)
02MAR16
Expanding business with existing customer Murdock Webbing, potential to exceed the previously reported targets. (ie: higher baseline in military now expected)
14MAR16
Sales made to 18 New customers, swapping to summary format now because too many to Ann constantly, +$ and time-frame not specified, Baseline target reiterated now with upside, significant portion to be in latter half of year.
23MAR16
New customer, New market of floor coverings (ie: not included at all in baseline), Value of purchase order and time-frame not stated but 'further support to target'
12ARP16
New purchase orders in APR +$500k, time-frame not specified, targets reiterated.
27ARP16
APR revised to +$630k, $18.5m and growth targets are ahead of schedule.
09MAY16
New sales, New Client in Fibreglass, +$ and timeline not stated, targets on track.
23MAY16
New Bedding Customer, New product (exclusive use of FR PCM) estimated $5m annually, took 6 months of testing, sales to commence in 2nd half 2016, receipts time-frame not stated.
(Must have been excited about this as we neglected to reiterate our targets in this Ann)
14JUL16
New agreement to supply a UN tents supplier worth +150k/mo ($1.8m/y) for a 7 year cycle, starts 3rd q.
(We were working on the product development for this in DEC15 see above)
On growth trajectory and confident in CY16 goals
15AUG16
New sales for Alexicool +$1.7m for CY16, (iTextiles had scheduled some of these trials back in DEC15 ann above)
New large scale orders in new market of Adhesives, +$ and timeframe not stated.
Remain on track for forecasts
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Supplement with your own research etc, the actual Anns have more detail then my bad summaries do.
I do respectfully acknowledge the 4C was smaller then the one previously,
but because i'm running with a "the company doesn't make stuff" philosophy. Revenue trajectory isn't negatively impacted.
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