MLA Medical Austaralia

[Entrep]

Nope - big sell order still there!

[Entrep]

Nope - big sell order still there!

Gone now - must have woken up late

[shasta]

Gone now - must have woken up late

MLA - SUPPLY AGREEMENT SECURED FOR ANALYTICA PRODUCT WITH NEW SOUTH WALES AMBULANCE SERVICE

http://stocknessmonster.com/news-ite...E=ASX&N=354816

More contracts wins & MLA closes @ 3.4c on small volume

[shasta]

MLA - MLA Secures Master Distributorship for MediVet in United Kingdom

http://stocknessmonster.com/news-ite...E=ASX&N=639877

• Exclusive Master Distributorship for secured for England, Wales, Scotland, and Ireland
• Will be operated by MLA’s 100% owned business in London
• MLA now has both OEM and distribution agreements in place with MediVet
• UK Business manager experienced and well connected in animal healthcare market
• Expected to be a major growth platform for MLA outside of Australia
• MLA positioned for growth in FY2012


When this info spreads thru the market it should stop the recent share price weakness

[h2so4]

MLA - MLA Secures Master Distributorship for MediVet in United Kingdom

http://stocknessmonster.com/news-ite...E=ASX&N=639877

• Exclusive Master Distributorship for secured for England, Wales, Scotland, and Ireland
• Will be operated by MLA’s 100% owned business in London
• MLA now has both OEM and distribution agreements in place with MediVet
• UK Business manager experienced and well connected in animal healthcare market
• Expected to be a major growth platform for MLA outside of Australia
• MLA positioned for growth in FY2012


When this info spreads thru the market it should stop the recent share price weakness

I'm hoping this market might pay for some growth but maybe that's asking too much.

[shasta]

MLA - SUPPLY AGREEMENT SECURED FOR ANALYTICA

http://stocknessmonster.com/news-ite...E=ASX&N=640004

Another partnership this time with ALT

[steve fleming]

I’ve had a good look at the quarterly cash flow report today, and MLA should report a pretty reasonable profit.

For a growing manufacturing company, you would expect to see some degree of discrepancy between EBITDA and cash flows, as working capital increases.

For H1 FY11, MLA reported EBITDA of $225k but actually recorded negative operating cash flows of $507k.

So far, in Q3 and Q4, MLA has reported negative operating cash flows of -57k (Q3) + 31k (Q4) = -26k ( a pretty large turnaround from -507k for H1). (As a check -26k (H2) plus – 507k (H1) gives you the -533k total negative operating cash flows for FY11 as reported today). Therefore EBITDA for H2 is likely to be significant – maybe around $500k.

Bear in mind debtor terms are EOM + 30, so any billing in May 2011 and June 2011 will not have been collected yet. Assuming debtor days are around 60, there is a fair possibility that some of April sales have also not been collected yet. On the basis that a lot of the new contracts have been back ended into Q4 FY11, therefore, potentially there is a large discrepancy between sales booked and the value of cash receipts as reported today.

Milestone, in their research report in May, forecast FY11 sales of $9.9m – this is maybe a little optimistic, but something around $9.5m should be achievable and could potentially generate, at a 7.5% margin, an EBITDA of around $700k / $750k (being $225k (H1 actual) plus $500k (H2 estimate)) which would be a very commendable result, and certainly set a strong foundation for FY12.

I calculate EV of MLA to be under $10m now ($9.9m - after conversion of options), which should price MLA on a single digit FY12 EBITDA multiple, which I am comfortable with given the rate at which they are generating new supply contracts and the obvious revenue and margin upside. Therefore, I have taken the opportunity generated by the recent option conversion forced sell down to significantly increase my MLA holdings, including some buys today at 2.3c.

Am looking forward to the FY11 results.

My FY11 ests:
Sales - $9.5m
EBITDA - $725k
NPBT - $450k

[shasta]

I’ve had a good look at the quarterly cash flow report today, and MLA should report a pretty reasonable profit.

For a growing manufacturing company, you would expect to see some degree of discrepancy between EBITDA and cash flows, as working capital increases.

For H1 FY11, MLA reported EBITDA of $225k but actually recorded negative operating cash flows of $507k.

So far, in Q3 and Q4, MLA has reported negative operating cash flows of -57k (Q3) + 31k (Q4) = -26k ( a pretty large turnaround from -507k for H1). (As a check -26k (H2) plus – 507k (H1) gives you the -533k total negative operating cash flows for FY11 as reported today). Therefore EBITDA for H2 is likely to be significant – maybe around $500k.

Bear in mind debtor terms are EOM + 30, so any billing in May 2011 and June 2011 will not have been collected yet. Assuming debtor days are around 60, there is a fair possibility that some of April sales have also not been collected yet. On the basis that a lot of the new contracts have been back ended into Q4 FY11, therefore, potentially there is a large discrepancy between sales booked and the value of cash receipts as reported today.

Milestone, in their research report in May, forecast FY11 sales of $9.9m – this is maybe a little optimistic, but something around $9.5m should be achievable and could potentially generate, at a 7.5% margin, an EBITDA of around $700k / $750k (being $225k (H1 actual) plus $500k (H2 estimate)) which would be a very commendable result, and certainly set a strong foundation for FY12.

I calculate EV of MLA to be under $10m now ($9.9m - after conversion of options), which should price MLA on a single digit FY12 EBITDA multiple, which I am comfortable with given the rate at which they are generating new supply contracts and the obvious revenue and margin upside. Therefore, I have taken the opportunity generated by the recent option conversion forced sell down to significantly increase my MLA holdings, including some buys today at 2.3c.

Am looking forward to the FY11 results.

My FY11 ests:
Sales - $9.5m
EBITDA - $725k
NPBT - $450k

Great buying, 2.3c for a company that has won more contracts & slipped back from 3c +

5c before the end of the year isnt out of the question

[h2so4]

Nice analysis Steve.

I'm tempted to do the same but I would like to see more evidence of new sales.

Think I'll wait until the annual report is out.

[h2so4]

Well they have just announced that they have a further $850k pending in customer receipts.

Double down pending.