SLC 1.83% $2.14 superloop limited

The numbers look good but it's a bit hard to read. At...

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    The numbers look good but it's a bit hard to read.

    At acquisition date (16 Oct 2015) APEXN was expected to contribute $3m in recurring revenues.
    http://www.asx.com.au/asxpdf/20151008/pdf/431xq7x8k3l90x.pdf

    At acquisition date (30 Nov 2015) CINENET was expected to contribute $2m in revenue.
    http://www.asx.com.au/asxpdf/20151201/pdf/433gglnzxbmj5d.pdf

    So that's $5m of the total... sort of.

    According to 1H16 accounts page 26, APEX contributed $1m revenue in 1H16, and page 27 shows CINENET contributed $143k in 1H16.

    The CINENET number makes sense - its roughly 1 months contribution of $2m, given CINENET was acquired 30 November.

    The APEXN number doesn't quite gel with the acquisition number - $1m over 2.5 months suggests that they are on track for $5m vs the $3m forecast at acquisition. That's pretty nice growth for APEXN if so.

    But it then raises the Q of how much revenue the core Superloop business is expected to provide of the $10m projected run rate at Dec 2016.
 
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