The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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They have over �1.7M in hand. The net margin on sales is about 85%. So on a turnover of �1.5M in the current year they would generate �1.275 in cash. In 2019 �3.0M would generate �2.55M. From my own experience of a small company if you have the right product a 100% year on year sales increase is more than achievable - in the case in my mind we got over 400% - but they stll need to make cost savings. Elsewhere they have pointed out that the CFO is not good value and neither is DM and one of the other non execs. Even if they are not fired a remuneration holiday might well be helpful. As they are doing NAB this year I would expect expenses to be pared back - no expensive flights, modest hotel accommodation unless on or near site can be properly justified. Of course, if they land a major contract everything might change. But until they do so pennywise is the watchword.
It�s a sobering thought, if they spend the same again this year as they go through last year�s, sales would need to be up 350% for them to breakeven, that�s not to make a profit just to cover their costs!
Not a good set of results on the numbers. But there is a new team in charge that has set out its stall clearly. We have new experienced sales personnel and a CEO who is performance driven. Expenditure on interesting projects has been cut - only income producing innovation will be funded. Income in Q1 2018 is up ~ 10% or 99%? The major relaunch is at NAB 2018 and that will really tell us where this is going.
To present those numbers. Costs are through the roof at �2.7m. Linked In have 37 members of staff for the company, so it�s costing �73k per an employee for what? There business achievements again this year? To make a �1 profit, it�s costing them �3.56! This isn�t a start up its being going for 18 years. Technology that works sells itself, been here for three years and other than hot air there has not been any progress.
I'm not saying Mr Mcdonagh has done this on his own or that he didn't have a great product to work with,my main reason for saying what I said is that he has certainly raised the profile of the company. It's still early days but the impression I've got from this man is he is not going to standstill and wait for something to happen he is more likely to make it happen.
"Mr Mcdonagh seems to have made quite a difference in a short time." Blimey that's quite a statement! The award is from work done in 2016. IM has turned FBT from a video editing company (Forscene) into a codec company (Blackbird). There is nothing to indicate his strategy has worked.
Let's face it. We know the results for 2017 are going to make for grim/quick reading. What I am hoping for however is that for once the Board can use the opportunity to outline a) what it will take to achieve meaningful revenues, b) how they intend to get there (and why it is reasonable to think they can achieve it) and c) what the scale of the opportunity is in the next 2-3 years. Failing that, given where things are presently the announcement of a quick sale of the company to a larger group for cash at 10p+ would suffice.
all sounds good and great PR, but will this and the other deals have taken us significantly closer to beIng EBITDA positive?
The 4 nominees....and Forscene is mentioned by name in the nomination Technical Achievement A....9/11 Memorial from Ground Zero, 15th Anniversary. September 11, 2016. (BARD Entertainment) B....For Scene Editing & Digital Distribution. October 10, 2016.(MSGNetworks.com). C.......SNY Relocates to 4 World Trade Center. June 30, 2017.(SNY). D....YES Network. April 2, 2017. (YES Network).
"The technical solution co-designed with Forscene, solved many challenges faced with time-critical workflow across multiple systems, requiring quick delivery of content closed captions." Certainly shows the muscle that the tech can flex to, to resolve the criteria needed in todays delivery of live sport etc.. MSG Networks is big and constantly aquiring new aquisitions, and is clearly a major client to be involved with... I am sure the exposure from this kind of client is far better than the efforts made at some of these trade fairs ....and I believe Ian is focusing on the potential from such bigger clients ...
Nice to see great news and recognition for all the hard work that has been put in over the past few years. Mr Mcdonagh seems to have made quite a difference in a short time.
From yesterday.....rising again this morning....slowly but surely,some good news hopefully,and not before time.
Check out large Buys again today. Getting interesting again.
Whatever the reason, it certainly looks promising
Maybe the placing is at a premium to the current share price or someone's gonna buy them out !
Are we about to get an announcement
ITV selected Forscene, our cloud video editing platform for Paddington Station 24/7, following railway workers on the Great Western Mainline. #Paddington247 Blast! Films, independent production company for high-quality, distinctive and innovative documentaries and dramas selects Forscene, our cloud video editing platform for Saving Lives at Sea series. #SavingLivesAtSea
Jeez I would be happy if Ian published the electricity meter reading in the office...at least it would be SOMETHING Never known a quieter period in a company that is supposed to be at the forefront of its field...(allegedly)
Pockerchips, lower based on accumulated losses circa $15 million and cash burn and that IMO they will need to raise additional funding in 2018. Yes and did hold shares and have taken a loss, as thought recent share price fall will continue, but just my opinion so GLA.
Pokerchips, Just to clarify the 100k was actually a sell. Still believe good news will come.
"Time to bail OUT if not already done so looks like this one is going much lower IMO, probably sub 3p." Lower...based on what exactly?.....oh, but of course..you didnt add that bit.. Interesting but yesterday there was a 100,000 share buy.....obviously someone else thought the opposite Maybe you are a buyer looking for shares ? You have no post history in FBT,..why the sudden posting when it is already at a low ???
Time to bail OUT if not already done so looks like this one is going much lower IMO, probably sub 3p. DYOR.