I got $6.5M npat 2014 based on revenues of $42M ebit margins of 22% ebit, and 30% tax and no interest. the recent acquisition will add another $500K at a guess so Npat circa $7m for 2014 plus what any new acquisitions add.
This is obviously not a bearish guess but it's not totally bullish either as ebit margins could be much higher than 22%.
Chairman Lloyd Roberts is the founder of SMX and the CEO is Ross Fielding who is an ex Telstra executive. The remaining board and key personnel can hardly be descriped as monkeys either.
Quite an amazing group for a listed business with a $70M market cap. They are not involved because they don't think they can grow this into a much bigger business IMHO.
Cheers
RXP Price at posting:
77.0¢ Sentiment: LT Buy Disclosure: Held
