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Rev down 6.9%
PAT down 33% to $7,376,000
Div same @ 12c
Alot more spending ahead
Looks like the good times are still a year away.
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Yes, they weren't forecasting a brilliant result, so not a total surprise. I reduced on the earlier forecast, but still hold some. Haven't had time to pick the announcement apart yet and decide whether to jump.
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Oh great, another after-hours earnings downgrade. Expect they'll get savaged tomorrow given low liquidity. 
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Down re 8.2% Guidance was $38 to $42 mill now $35 to $36 mill." It is important to recognize that the delays in realising rev from these larger corporate and Fed gov customer deals have a short term impact on earnings, specifically in calendar 2013. Our servicing of the fed gov lead agency gateway program and intellicentre 2 are on track to deliver long term profitable growth"
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A pretty depressing result out of MAQ - they have returned to the old days of prolonged "investing for growth" as their margins get undermined by competitors and their cash gets spent on rapidly depreciating assets. It could have been another "watershed" year, with growth to come, but looking at the likely increases in depreciation and the fact that 1H forecast EBITDA is lower than the pcp, it could be a real crumbler.
One day, this will be a good investment again as they finally extract value from all those assets, but I see no rush here.
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Times up Maq, Ive taken the Knife to you .
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Relieved not to be holding MAQ following current half year - not much to show for their past few years of investment yet. Maybe one day they will, but would need to get a lot cheaper to be worth taking another punt on. Currently $8.37, but would think they would fall tomorrow.
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Rather than spend all this cash on data centres it looks like they would have been better off just sticking with the Telco division, let it gradually decline and pay all the cash flows out as dividends (or sell it to a bigger player).
Instead all the cash is gone, they now have net debt and all the op cash flow is being pumped into the hosting division that then creates a huge depreciation charge.
I wonder what the final ROE will actually be?
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$8.30 to $5.50 now
Guidance in June EBITDA reducing from previous to afloat on half to $25-$27 million. Significant progress blah blah. Sold in the $8 's
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Now $23.20 DOH!
A case of time in, not timing in
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