“Just looking at the September 4C. It discloses Customer Receipts from Sales as $2.01m and Consumer Health Sales as $1.55m. Could the difference ($0.46m) be for Licence Fees and Royalties?”
Most of the $0.46m difference is the result of a timing difference between the receipt of cash payments and the prior recording of sales revenue. Normally the Company indicates in accompanying comments when the 4C receipts include PEB royalties.
Those figures disclosed by CDY as CxBladder royalties correspond to about 3.2% of the test revenue reported by PEB for its preceding financial year. While accrual revenue is reported by PEB for Aus, NZ and Singapore sales, revenue from the US is only recorded once cash payments are received. Receipt of US cash can take up to 24 months from time of sale, so there is probably about a year’s worth of US revenue backlogged that should be released once LCD is obtained.
CDY Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
