Dunno, maybe some fundie was wanting to window dress his/her EOM...

Dunno, maybe some fundie was wanting to window dress his/her EOM for August?

Anyway I've got the back of my envelope out and figured out the minimum position we should be at by this time next year. That is with the Broadsword acquisition, cost reductions and no increase in sales (of the existing business).

95.1 mil EBITDA FY13
16.5 mil EBITDA FY14 Broadsword (add)
10.0 mil Additional cost reductions FY14 (add)
-----------
121.6 mil EBITDA FY14 estimate (addition of all above)
===========

Use same ratio of EBITDA ---> NPAT (underlying)
95.1/58.4 = 1.6284

Use the ratio to guesstimate FY14 NPAT
121.6/1.6284 = 74.7 mil
Then EPS 32 cents

Not too shabby.

That's a F/C PE of 10.5
and maintaining a 60% payout ratio a dividend of 19.2 cents or a yield of 5.7%

I'm certainly going to hold onto mine for a while longer :-)
And as usual whenever it dips below $3 I'll stock up on some more.