Buy Or Sell Opportunity • Jun 09
Now 20% undervalued Over the last 90 days, the stock has risen 44% to UK£1.93. The fair value is estimated to be UK£2.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 41% in a year. Earnings are forecast to decline by 66% in the next year. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to UK£1.82, the stock trades at a trailing P/E ratio of 5.9x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total returns to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.40 per share. Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: US$0.41 (vs US$0.18 in FY 2024) Full year 2025 results: EPS: US$0.41 (up from US$0.18 in FY 2024). Revenue: US$64.3m (up 31% from FY 2024). Net income: US$20.1m (up 135% from FY 2024). Profit margin: 31% (up from 17% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Annuncio • Mar 30
Spectra Systems Corporation Intends to Pay an Annual Dividend, Payable on July 17, 2026 Spectra Systems Corporation intends to pay an annual dividend of $0.136 per share on July 17, 2026 to shareholders of record as of July 3, 2026 (ex-dividend date is July 2, 2026). Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£1.39, the stock trades at a trailing P/E ratio of 6.6x. Average forward P/E is 17x in the Electronic industry in the United Kingdom. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£1.50, the stock trades at a trailing P/E ratio of 7.2x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total returns to shareholders of 17% over the past three years. New Risk • Nov 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 43% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (UK£65.4m market cap, or US$85.9m). Annuncio • Oct 17
Spectra Systems Corporation Appoints Rafael Marcinek as Finance Director Spectra Systems Corporation, announced that it has agreed to appoint, in a non board role, a new Finance Director, Rafael Marcinek (age 42), following Kevin Richards requiring an extensive medical leave. Rafael Marcinek, CPA, brings over 15 years of experience in accounting, audit, and financial leadership across both public and private sectors. Rafael began his career in public accounting, managing large-scale assurance engagements for billion-dollar organizations. During his career, Rafael has developed a deep expertise in financial reporting, regulatory compliance, and internal controls. He subsequently held senior finance leadership roles, where he directed budgeting, forecasting, and operational improvement initiatives that strengthened financial performance and organizational efficiency. New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£72.5m (US$96.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 43% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (UK£72.5m market cap, or US$96.6m). Reported Earnings • Oct 05
First half 2025 earnings released: EPS: US$0.21 (vs US$0.11 in 1H 2024) First half 2025 results: EPS: US$0.21 (up from US$0.11 in 1H 2024). Revenue: US$35.0m (up 54% from 1H 2024). Net income: US$10.1m (up 92% from 1H 2024). Profit margin: 29% (up from 23% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 47% p.a. on average during the next 2 years, while revenues in the Electronic industry in the United Kingdom are expected to grow by 6.1%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Barb Paldus was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Sep 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (17% net profit margin). Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to UK£1.56, the stock trades at a trailing P/E ratio of 11.9x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.51 per share. Buy Or Sell Opportunity • Sep 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to UK£1.96. The fair value is estimated to be UK£2.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 3.3% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Annuncio • Sep 09
Spectra Systems Corporation to Report First Half, 2025 Results on Sep 29, 2025 Spectra Systems Corporation announced that they will report first half, 2025 results on Sep 29, 2025 Buy Or Sell Opportunity • Aug 22
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at UK£2.03. The fair value is estimated to be UK£2.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 3.3% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Buy Or Sell Opportunity • Jul 14
Now 20% undervalued Over the last 90 days, the stock has risen 8.3% to UK£2.22. The fair value is estimated to be UK£2.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 3.3% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£2.31, the stock trades at a trailing P/E ratio of 17.7x. Average forward P/E is 18x in the Electronic industry in the United Kingdom. Total returns to shareholders of 96% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.78 per share. Annuncio • Jun 11
Spectra Systems Corporation, Annual General Meeting, Jun 24, 2025 Spectra Systems Corporation, Annual General Meeting, Jun 24, 2025. Location: the textron tower located, 40 westminster street, floor 18, conference room c, providence, rhode island, United States Upcoming Dividend • Jun 05
Upcoming dividend of US$0.12 per share Eligible shareholders must have bought the stock before 12 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (1.6%). Declared Dividend • Apr 02
Dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 12th June 2025 Payment date: 27th June 2025 Dividend yield will be 5.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 11% per year over the past 8 years and payments have been stable during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: US$0.18 (vs US$0.13 in FY 2023) Full year 2024 results: EPS: US$0.18 (up from US$0.13 in FY 2023). Revenue: US$49.2m (up 143% from FY 2023). Net income: US$8.52m (up 41% from FY 2023). Profit margin: 17% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Annuncio • Mar 31
Spectra Systems Corporation Declares Annual Dividend for the Twelve Month Ended 31 December 2024, Payable on June 27, 2025 The Board of Spectra Systems Corporation are declaring an annual dividend of $0.116 per share (2023: US 0.116) for the twelve months ended 31 December 2024. The Board therefore intends to pay an annual dividend of $0.116 per share on June 27, 2025 to shareholders of record as of June 13, 2025. Reported Earnings • Oct 02
First half 2024 earnings released: EPS: US$0.11 (vs US$0.10 in 1H 2023) First half 2024 results: EPS: US$0.11 (up from US$0.10 in 1H 2023). Revenue: US$22.7m (up 96% from 1H 2023). Net income: US$5.25m (up 11% from 1H 2023). Profit margin: 23% (down from 41% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 21% Last year net profit margin: 37% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (195% cash payout ratio). Profit margins are more than 30% lower than last year (21% net profit margin). Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Buy Or Sell Opportunity • Sep 24
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to UK£2.45. The fair value is estimated to be UK£1.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Annuncio • Sep 16
Spectra Systems Corporation to Report First Half, 2024 Results on Sep 30, 2024 Spectra Systems Corporation announced that they will report first half, 2024 results on Sep 30, 2024 Buy Or Sell Opportunity • Aug 17
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to UK£2.55. The fair value is estimated to be UK£2.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£2.70, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Electronic industry in the United Kingdom. Total returns to shareholders of 107% over the past three years. Reported Earnings • Jul 02
Full year 2023 earnings released: EPS: US$0.13 (vs US$0.14 in FY 2022) Full year 2023 results: EPS: US$0.13 (down from US$0.14 in FY 2022). Revenue: US$20.3m (up 3.4% from FY 2022). Net income: US$6.05m (down 1.6% from FY 2022). Profit margin: 30% (down from 31% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Declared Dividend • Jun 05
Dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 13th June 2024 Payment date: 28th June 2024 Dividend yield will be 4.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 7.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • May 28
Upcoming dividend of US$0.12 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 23 June 2024. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (1.5%). Declared Dividend • Mar 29
Dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 4th June 2024 Payment date: 23rd June 2024 Dividend yield will be 5.3%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Mar 29
Spectra Systems Corporation Declares Annual Dividend, Payable on June 23, 2024 The Board of Spectra Systems Corporation declaring an annual dividend of USD 0.116 per share (2023: USD 0.115) to be paid on or about June 23, 2024 to shareholders of record as of June 5, 2024. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: US$0.13 (vs US$0.14 in FY 2022) Full year 2023 results: EPS: US$0.13 (down from US$0.14 in FY 2022). Revenue: US$20.3m (up 3.4% from FY 2022). Net income: US$6.05m (down 1.6% from FY 2022). Profit margin: 30% (down from 31% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year. Annuncio • Mar 14
Spectra Systems Corporation to Report Fiscal Year 2023 Results on Mar 27, 2024 Spectra Systems Corporation announced that they will report fiscal year 2023 results on Mar 27, 2024 Annuncio • Dec 22
Spectra Systems Corporation (AIM:SPSY) acquired Cartor Holdings Ltd. Spectra Systems Corporation (AIM:SPSY) entered into a conditional agreement to acquire Cartor Holdings Ltd for £10.5 million on December 4, 2023. Consideration comprises of £5.5 million satisfied in cash, £3 million will be paid thorough issue of new shares of common stock of Spectra and £2 million will be payable no later than 18 months after completion through issue of shares. In addition, Spectra will assume up to £4.5 million of Cartor current external debt. The transaction is conditional on satisfaction of customary conditions including obtaining consents from certain customers of Cartor. In its year ended 30 September 2023, based on unaudited management accounts, Cartor generated an EBITDA of £2.52 million, turnover of £16.18 million and net assets of £4.9 million. The transaction is expected to complete during December 2023. Chris Fielding and James Bavister of WH Ireland Limited acted as financial advisor to Spectra Systems Corporation.
Spectra Systems Corporation (AIM:SPSY) acquired Cartor Holdings Ltd on December 21, 2023. New Risk • Dec 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risks Dividend is not well covered by cash flows (131% cash payout ratio). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to UK£2.17, the stock trades at a trailing P/E ratio of 15x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.54 per share. Annuncio • Dec 05
Spectra Systems Corporation (AIM:SPSY) entered into a conditional agreement to acquire Cartor Holdings Ltd for £10.5 million. Spectra Systems Corporation (AIM:SPSY) entered into a conditional agreement to acquire Cartor Holdings Ltd for £10.5 million on December 4, 2023. Consideration comprises of £5.5 million satisfied in cash, £3 million will be paid thorough issue of new shares of common stock of Spectra and £2 million will be payable no later than 18 months after completion through issue of shares. In addition, Spectra will assume up to £4.5 million of Cartor current external debt. The transaction is conditional on satisfaction of customary conditions including obtaining consents from certain customers of Cartor. In its year ended 30 September 2023, based on unaudited management accounts, Cartor generated an EBITDA of £2.52 million, turnover of £16.18 million and net assets of £4.9 million. The transaction is expected to complete during December 2023. Chris Fielding and James Bavister of WH Ireland Limited acted as financial advisor to Spectra Systems Corporation. New Risk • Nov 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£80.0m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risks Dividend is not well covered by cash flows (126% cash payout ratio). Market cap is less than US$100m (UK£80.0m market cap, or US$99.4m). New Risk • Oct 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 45% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risks Dividend is not well covered by cash flows (126% cash payout ratio). Market cap is less than US$100m (UK£78.9m market cap, or US$96.2m). Buying Opportunity • Sep 04
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be UK£2.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 9.2%. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Annuncio • Jun 27
Spectra Systems Corporation, Annual General Meeting, Jun 26, 2023 Spectra Systems Corporation, Annual General Meeting, Jun 26, 2023. Annuncio • May 31
Spectra Systems Corporation Announces the Appointment of Edward Spies as Chief Financial Officer Spectra Systems Corporation announce that it has agreed to appoint Edward Spies (age 56) as Chief Financial Officer, upon the completion of due diligence by its nominated adviser. Edward Spies is an experienced accounting and finance professional with over 25 years of expertise in financial planning and analysis, mergers and acquisitions, and business process improvement. He brings decades of experience in the technology industry, having started his career at PricewaterhouseCoopers, and worked in various finance leadership roles since then. Recently, he served as CFO of Mearthane Products Corporation, a polymer component manufacturer. Prior to that, he held positions as a Corporate Controller and VP of Finance at several VC and PE backed portfolio companies. He also helped build the CFO services practice for CFGI, and embarked on a successful consulting career providing accounting and finance support for start-up and publicly traded companies. Mr. Spies has considerable expertise in manufacturing, cost and profit margin analysis, and financial management. He earned his CPA earlier in his career and holds a bachelor's degree from Clarkson University and an MBA/MS in Accounting from Northeastern University. Upcoming Dividend • May 25
Upcoming dividend of US$0.12 per share at 5.4% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 23 June 2023. Payout ratio and cash payout ratio are on the higher end at 85% and 76% respectively. Trailing yield: 5.4%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.5%). Reported Earnings • Mar 20
Full year 2022 earnings released: EPS: US$0.14 (vs US$0.11 in FY 2021) Full year 2022 results: EPS: US$0.14 (up from US$0.11 in FY 2021). Revenue: US$19.6m (up 18% from FY 2021). Net income: US$6.15m (up 19% from FY 2021). Profit margin: 31% (in line with FY 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 13
First half 2022 earnings released: EPS: US$0.06 (vs US$0.065 in 1H 2021) First half 2022 results: EPS: US$0.06 (down from US$0.065 in 1H 2021). Revenue: US$9.27m (up 16% from 1H 2021). Net income: US$2.65m (down 10% from 1H 2021). Profit margin: 29% (down from 37% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 25
Upcoming dividend of US$0.11 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 24 June 2022. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 6.0%. Within top quartile of British dividend payers (4.8%). Higher than average of industry peers (1.5%). Reported Earnings • May 06
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$0.11 (up from US$0.11 in FY 2020). Revenue: US$16.6m (up 13% from FY 2020). Net income: US$5.16m (flat on FY 2020). Profit margin: 31% (down from 35% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 6.3%. Over the next year, revenue is forecast to grow 3.7%, compared to a 8.3% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 09
First half 2021 earnings released: EPS US$0.065 (vs US$0.041 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: US$8.02m (up 23% from 1H 2020). Net income: US$2.95m (up 56% from 1H 2020). Profit margin: 37% (up from 29% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year.