The first quarter has produced a solid start to the new fiscal year. · Sales (excluding system sales) are up 82% over the same quarter last year. Gross margin is up 190% over the same quarter's comparison. · Profit after tax is A$3.2 million ahead of the same period last year. · Cash is positive and excluding capital raisings, underlying trading has added a further A$600k to our cash on hand to the period ended 30thSeptember 2003. · Synerject has also continued with its progress, contributing A$400k, as our share of its profits or 16% higher than the same period last year. The results to date suggest that the first half will be a substantial improvement over the same period last year. However, the first quarter was favourably impacted by a number of one off events including the timing of certain licence payments and ACIS credits that will not occur in the second quarter. Further, Engineering Services revenue will be affected by the reduced number of available hours in the second quarter, compared to the first.
profit and zero cash burn.
more good news. singas
what do you reckon Snuff !
OEC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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