Ann: Swift Accelerates Earnings - Preliminary Results 31 Dec 2018, page-26

Ok Daz. First off thank you for your response. And I appreciate your comments regarding the revenue, because its not all about the bottom line.

I've now run some numbers but before I post them, I would like your (and/or others) take on some assumptions.
1) Revenue for the second half will be 10% higher than the first because a) second half has been stronger in the past and the business is still growing b) there were a number on new contract wins in the 1st half that didn't contribute for the full 6 months. I'm going with $13.75 mill vs $12.5mill for the first half.
2) Medical Media, once the acquisition is completed in 2 weeks, will contribute approx 4 months of revenue for the year. They did $7.4 mill last year so I will assume the same again this year as a conservative number. That equates to just below $2 mill. In total therefore SW1 should do $28 mill for 2019.
3) Margins for the SW1 core business will stay at 54%. I'm going out on a limb to suggest MM gross margins will be 80% because the ad business is a high gross margin sector.
4) Both SW1 core business and MM will grow by 10% in 2020fy.
5) Lets be ultra conservative and say that fixed costs will be $10 mill this year for SW1 and MM combined (only 4 months of costs for MM).
6) Lets be even more conservative and say that SW1 doesn't generate ANY ad revenue from its core business this year or next.

Please let me know if you disagree with any of those assumptions.