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Quarterly came out the other day. Good, not great reading.
In the HY announcment they said watch out for a big 2nd half as medivet kicks in.
It did not happen in that quarter as revenue dropped 400k (2.4m to 2m) and costs stayed flat.
Net cash flow for the quarter was up on previous ones as they paid down less debt than usual. Capex was also down. This should become standard from here on out, however we need to see that revenue build for MLA to re rate.
So everything is pointing towards a huge Q4 to meet the 2nd half guidance.
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 Originally Posted by buns
Quarterly came out the other day. Good, not great reading.
In the HY announcment they said watch out for a big 2nd half as medivet kicks in.
It did not happen in that quarter as revenue dropped 400k (2.4m to 2m) and costs stayed flat.
Net cash flow for the quarter was up on previous ones as they paid down less debt than usual. Capex was also down. This should become standard from here on out, however we need to see that revenue build for MLA to re rate.
So everything is pointing towards a huge Q4 to meet the 2nd half guidance.
Was that 2nd half of the tax year, or calendar year?
Was pleased to see they are now covering operating costs, & each quarter from now on should be cash positive/profitable (excl timing differences/abnormal costs)
As i've mentioned before any new OEM contact wins are essentially "profit upgrades"
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I can't remember in what announcment, but MLA said it has been EBITDA positive every month since December. A good sign they have things under control and the underlying operation structure is pretty set.
"Mr. Donnison said MLA is well placed for growth for the remainder of FY2011 with revenue and earnings weighted to the second half of the year, due primarily to the contribution of the recently secured OEM agreements and revenue from new markets."
The context is around FY11, hence I'm pretty sure he is talking about Jan - June. Still, I really would have expected revenues to be well up (instead of 20% down) as Medivet was suppose to be ramping up from December, and both the Terumo and Fresenius Kabi OEM's were suppose to be contributing...
Last edited by buns; 19-04-2011 at 08:38 AM.
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Apparently the Jan-March quarter is seasonally weak.
Originally Posted by buns
I can't remember in what announcment, but MLA said it has been EBITDA positive every month since December. A good sign they have things under control and the underlying operation structure is pretty set.
"Mr. Donnison said MLA is well placed for growth for the remainder of FY2011 with revenue and earnings weighted to the second half of the year, due primarily to the contribution of the recently secured OEM agreements and revenue from new markets."
The context is around FY11, hence I'm pretty sure he is talking about Jan - June. Still, I really would have expected revenues to be well up (instead of 20% down) as Medivet was suppose to be ramping up from December, and both the Terumo and Fresenius Kabi OEM's were suppose to be contributing...
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I've been put off of late as MLA got a bit ahead of its self. Thankfully I reaslised this before the people today..
100k plus sold today taking us to 31c (40 just a week ago) and sell another order of 1 million at 31c.
Not much depth here, so if this selling does happen, be ready to pounce as MLA is great value in the mid 20's.
Q4 will be a big one.
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2.1m sell order in at 3.1c - not going anywhere for a while...
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Interesting sell off.
The same has happened to some other small cap healthcare's.
Out of the lot, MLA bolted off a tad to far in my books. I only found this out after running another level of detailed analysis, and was ever so close to selling my lot at .39c, however just missed and now I'm still holding and in the red.
This isn't a short termer, this will recover and some. Q4 will be massive from all reports. And I'm told FY12 will be 20% growth on FY11, with most of this revenue coming from secure contracts. This excludes whatever they do with all this new FCF , $1m+ from options, upside from medivac growing some more. Also unlike other small cap's this one has a fully developed supply chain ready to tackle a worldwide market, unlike others which can be restricted to a single state of Australia.
I think the late .20's provides a great entry point, with fair value sitting just over .30
Research report out today even states fair value is .59c!
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Originally Posted by Entrep
That was quick? You signing in first thing to check whether that huge sell order has gone as well?
Anyhow - a very good chunk of business for MLA.
The revenue is secondary to the exposure they gain from this. UNICEFF are across 200 countries, this agreement is only for needle cutters in India. But its a foot in the door for bigger things.
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