$ 46 million in contracts for 09

IBA has won $37.1 million in new contracts this year and renewed a contract worth $9 million, that is 46.1 million so far this year and we are not even half way through the year! In the 08 annual report Cohen mentions that 70-80% of revenue is from reoccurring contracts/projects which makes new contracts even more exciting as they are likely to renew contracts with IBA in the future. Then we have the accqusiation of Hatrix which seems like a good company that specialises in medication management and also won the 08 Australian IT entrepreneurial company of the year.

The future can only get better with Obama planning big spending on Health care in his budget, aging populations and unfortunately there will always be new viruses such as swine flu that will need to be monitored etc.

IBA is heavily undervalued IMHO, there announcements go un noticed by the market. In the mean time I will just keep accumulating till the market wakes up

cheers

King