Ann: Market Update, page-3

.... I think the goal of $5M NPAT in 2017 seems a bit of a tough ask from the current operations. I think from looking at the annual reports(?):

2014 - $1.978M
2015 - $2.191M
2016 - $2.2M estimated (Range = $1.5M to $2.2M)
2017 - $5.0M (per AGM presentation)

The earnings outlook looks shaky so I can only guess there is uncertainty either in the management changes recently at Urgent, or that the Statseeker business is volatile/the new version didn't deliver. Statseeker has had a number of reports where it "had disappointing results" and the outlook does not support the idea that the new sales structure and version is working.
In 2014 the revised market update was $700-$800K for the first half with an outlook $2.0 to $2.3 million. The actuals were $2.191M. I think management did a good job there and it shows they can forecast. Not sure if I should be concerned that the update now has a $700K spread and the upper limit is the same as last year? (Market Update 17/12/15 = $600-$700K first half; Outlook = $1.5 to $2.2million)

Flat performance isn't exciting. Have not be following long but have they been conservative in past years before 2014? If not this would mean that in 2017 they need to double NPAT and can't see that happening without an acquisition or some major change to what they have.