(28-04-2016, 05:49 PM)beau Wrote: 2016 Q1 Results out, sales up compared to 2015 Q1.
Thanks for posting on this stock. It had been on my net cash screening list for a while. Has done well and now cash levels are ~35% of Mcap. Hopefully their main IT segment will be able to close more deals this year and continue the momentum. (not sure how cyclical this is)
extract from 1Q2106
Comparing 1Q2016 to 1Q2015, the revenue for this quarter increased by 6.3% or $0.4m from $6.3m in 1Q2015 to $6.7m in 1Q2016. The increase was mainly due to the increase in demand from one of our customers.
The IT business through Singapore and the regional offices achieved an increase in revenue of 13.6% or $10.3m from $75.7m in 1Q2015 to $86.0m in 1Q2016. The increase in revenue was mainly due to closing of a few big deals in 1Q2016.The Group has a focused strategy of selling and promoting only the best-of-breed IT products. Among the products the Group currently carries are industry-leading IT products from Blue Coat, Check Point, Imperva, Riverbed and RSA.]
Only nagging things are
1) Their debt actually increased from ~22m to ~27m now. they have excess cash to cover that and even pay it all down so not sure why they even bothered to borrow an extra 5m this quarter.
2) NPM is very thin ~2%+ only.
Otherwise, looks like an ok value buy at the moment for it's yield.
- not vested -