Share Price slow to react on PPS announcement. Not unusual...

Share Price slow to react on PPS announcement.  Not unusual though.

My thoughts for the results: Tough one to delve into but overall a very positive sign for the coming year.  Just ignore all the one-off costs incurred last FY.

The Bad:
If you're solely looking at Net Income, then it decreased approx 12% to 688,000 for the year
Cash on Hand down from $10.4M to $9M (still pretty impressive considering everything that happened over the year)

The Good:
Funds Under Administration (FUA) soaring to $6.1 Billion
Customer growth both locally & internationally
EBITDA up 54% to 6.3 million  (revenue starting to considerably outstrip operating expenses)

Most of the costs involved in FY16-17 were attributable to one off payments like:
   - Restructure cost about $1M
   - acquisitions of around $700K
   - 95% increase in income tax costs this year compared to last year
   - Moving building costs
   - Legal costs for management fiasco
No Debt
No increase in IT Costs/Support
Increase in Sales / Marketing costs

Overall:
Think the staff have done an incredible job of maintaining a positive outcome among so much uncertainty.  Numbers look like the company has now got a solid suite of products & is going to invest heavily in sales/marketing in FY17-18 to try to further raise the FUA.  Which should in turn, further increase the gap between revenue & operating expenses.

I think if they have another year like the last without all the one-off costs the numbers will look staggeringly good.

DYOR