It's good to see a positive earnings guidance for a change.
Sales Revenue up between $2.1 ~ $3.1 million EBITDA up between $500,000 ~ $800,000 EBIT up between $200,000 ~ $500,000 Net Loss After Tax down between $300,000 ~ $600,000
There were also mentions of 1)winning significant orders for the upgrade of traffic signals in NSW using LED technology with further orders being received in the current (second) half of the financial year and 2) QTC winning orders both domestically and overseas following on from the significant first half order from Saudi Arabia for traffic controllers.
As a shareholder I would prefer it if management were more proactive with announcing the progress they are making to the ASX as such announcements serve firstly to reassure existing shareholders that progress is being made and that orders continue to come through and secondly to create some interest in the stock amongst both existing shareholders and prospective shareholders which, in theory at least, should lead to a higher share price.
Once again, it is good to see such a positive result as the one announced today, even if it is only providing guidance, but it would be even better if management were a little more communicative with shareholders and the market in general as to what is happening with TTI.
We shouldn't have to rely on little snippets like today's announcement (the twice annual Earnings Guidance), a single Presentation a year and the letters from the Chairman and the MD at the AGM which also appear in the Annual Report to find out what is going on.
When they receive orders they should release the details via ASX announcements like the management of all of the other companies I have in my portfolio do. Yet the only ASX announcement we had in relation to orders for the entirety of 2014 was the $1.4 million order from Saudi Arabia for the QTC Traffic Controller.
If that was all that happened last year then that is fine, but we have confirmation that it wasn't and that orders continue to be received and yet we don't even have a single ASX announcement. This gives the impression of a stagnant company merely treading water when that clearly isn't the case.
Given the fact that TTI is a publicly-listed company I expect a better performance from management when it comes to informing their shareholders of the progress TTI is making, where it is currently at and how things are looking going forward.
TTI Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
