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This company caught my eye with year end results, then
Q1 results. This company is showing 100% growth.
It earned .07 last fiscal year, doubling revenues to $15 M.
In Q1 they earned .07 doubling revenues to $8 M. This stock
is trading dirt cheap. Reason, no one follows it, and thus
liquidity is low, thus low multiple!! (ridicuously low for now).
Here are excerpts from year end and Q1 results:
Alberta Stock Exchange : TOM
MARKHAM, Ont., Aug. 19 /CNW/ - T S Telecom Ltd. is pleased to announce
its financial results for the year ended March 31, 1997, as follows :
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For the year ended March 31 1997 1996
(in thousands of dollars, except earnings per share)
Revenues 14,970 7,511
Net earnings (loss) 1,328 (2,077)
Earnings (loss) per share $0.07 (0.13)
Cash flow provided by (used in) operating activities 581 (1,977)
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Discussion of fiscal 1997 results
Gross Revenues for the 1997 fiscal year doubled from 1996 levels to
$14.97 million. The Company realized a net income of $1.328 million in 1997 or
$0.07 per share as compared to a net loss of $2.077 million or $0.13 per share
in fiscal 1996.
The increase in operating revenues is attributable to the Company's
efforts in expanding its product lines and markets, which included the
successful introduction of a line of power monitoring equipment (''Powercom'')
and optical fiber network access equipment. The Company also extended its
markets beyond its traditional customer base and new applications for products
were also introduced in the year.
Cash provided by operating activities in the year was $581,000 as
compared to cash used in operations of $1.977 million for the same period last
year. The increase of cash from operations is largely attributable to the
growth in net earnings, and partially offset by a net increase in non-cash
working capital.
In June of 1996, the Company repaid its short term loan of $881,500, and
in October renegotiated a new short term loan of approximately $718,000. This
subsequent loan was repaid in May of 1997.
At March 31, 1997, the Company had a backlog of firm orders in the amount
of $6.7 million. The Company expects this backlog to be filled in the fiscal
year ending March 31, 1998.
MARKHAM, Ont., Aug. 27 /CNW/ - T S Telecom Ltd. is pleased to announce
its first quarter results for the period ended June 30, 1997, as follows:
For the 3 months ended June 30 1997 1996
(in thousands of dollars)
Revenues $8,355 $3,901
Net earnings after tax $1,467 $ 739
Earnings per share $0.073 $0.037
Cash flows from operations $1,763 $ 768
Discussion of fiscal 1998 Q1 results
In the first quarter of fiscal 1998, both gross revenues and net earnings
showed significant improvements over the results of the first quarter of
fiscal 1997. Earnings per share for the first quarter, at $0.073, is nearly
double the $0.037 realized a year earlier.
The first quarter produced cash flows from operations of $1.76 million,
compared to $768,000 for the first quarter of fiscal 1997. In addition, cash
flows from investing activities for the quarter was $202,000, which includes a
dividend of $282,000 from the Company's equity investment in Shanghai Hua
Cheng Telecommunication Equipment Co. Ltd. (''SHC''). The increased cash flow
from operations was used to repay a short term debt of $718,000, thus
strengthening our balance sheet. The Company does not have any long term debt.
The Company's share of earnings from its investment in SHC was $174,000
in the first quarter of fiscal 1998, as compared to $161,000 for the same
period last year. We remain very positive about SHC, which continues to show
increasing revenues and net earnings.
In addition to booked revenues of $8.36 million, the Company has on its
order book a backlog at June 30, 1997 of $5.1 million, as compared to $4.8
million at the end of the first quarter of fiscal 1997. The backlog is
expected to be substantially cleared by the third quarter.
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