I have been a long time shareholder of Con-Space Communications. I believe that the market is just starting to appreciate what management have been building here. The stock has finally broken out of a 10 month trading range. The company is projecting $0.11 in after tax eps ending Sept 05. This stock may have more upside from here. I'd be curious to know if anyone else here owns any CCB.
From QIS Capital
CON-SPACE Communications Ltd. (CCB:TSX-V)
Website: www.con-space.com
Current Price: $1.01
CON-SPACE Communications’ preliminary second quarter results show that a new second quarter sales record has been established. Quarterly sales, ended December 31, 2004, were approximately $1.2 million, well ahead of last year's second quarter
CON-SPACE, which has continually shown that it can grow at double-digit numbers, has concluded the first half of fiscal 2005 with year-to-date sales of approximately $2.7 million, a full 36% increase over the same period last year.
In addition to the incredible sales growth, CON-SPACE’s order backlog also continues to grow, ending at over $850,000 at the end of December 2004. All indicators thus far point to continued and accelerated growth in the short-term and long-term for this unique company.
Official second quarter results are expected to be filed and made available to the general public in early February 2005.
James L. Swanson, chairman of CON-SPACE, commented: CON-SPACE continues to work with its customers to provide them with what they require and the results show in the exceptional sales the company is seeing. Needless to say, we are very pleased with our progress and foresee its continuation long into the future. At this point, we expect fiscal 2005 will be another over-performing year.
QIS CAPITAL Comments:
CON-SPACE continues its strong performance with another quarter in which record revenues have been generated. A growing order backlog has the company well positioned to meet or exceed its forecasted revenues of $6.5 million. Furthermore, CON-SPACE recently raised its earnings forecast for fiscal 2005 (ending June 30) to $0.11 per share. In addition, the company continues to strengthen its balance sheet and last reported a positive working capital position of $1.7 million or $0.17 per share. Growth is expected to continue throughout fiscal 2005 and fiscal 2006. It is important to note that the second half of each fiscal year has historically proven to be CON-SPACE’s strongest in terms of revenues and earnings per share.
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