FY2005: a $800k operating loss on revenue of $29.3m. FY2006: a $1.5m operating loss on revenue of $30.2m. FY2007: a $1.5m operating loss on revenue of $27.3m. FY2008: a $1.0m operating loss on revenue of $27.4m. FY2009: a $1.3m profit on revenue of 32.3m. FY2010 (forecast): a $2.2-2.4m profit on revenue of $36-37m.
The approximate market caps around this time in October each year have been 2005 - $25m, 2006 - $15m, 2007 - $11m, 2008 - $4m, and now 2009 $8m. I can't help thinking the 2005 valuation of $25m seems more justified now than it was then - that would only be a forward PE of 10x or a backward one of 20x.
If you are still around Patient - and have been patient - you could well see 33c again.
KKT Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
