mnf report today forecasts profit fy09

Completely credible & believable report today from MNF. They have not missed a forecast yet so there is every reason to believe this one as well.

No cash burn here!

MyNetFone Managing Director`s Presentation at AGM 2008

Here's the key points:

Fin Year Rev$M Subscribers

FY 05/06 1,603 12,500
FY 06/07 3,276 35,000
FY 07/08 6,809 60,000

September 2008 Quarter

Total cash receipts for the quarter $2.5M

Positive Cash inflow $86,000

Cash in bank $942,000

An increase of 10% from last quarter

FY 08/09 Projections

Expect gross revenue in excess of $10M

Expect over $300,000 revenue per employee

Improve ARPU and gross margin

EBITDA Positive

Conclusions

Since IPO, My Net Fone management has built a solid business with sound strategies and consistent growth

Aiming to be the first ASX Listed VoIP provider to be EBITDA positive


As an MNF shareholder there is a lot to cheer about in that report. Management have proven to be accurate forecasters to date so the forecasts look good!