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Gold/Mining/Energy : GEAC - A New Era?

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To: Sultan who wrote (298)6/22/2005 9:52:42 PM
From: Ally  Read Replies (3) of 330
 
Pretty good year end results, however I don't see a blow out.... the bit of revenue growth in Q4 was offset by 15% increase in marketing expenses and 11% in administrative expenses.

I notice the creep up in diluted # shares (management options?). I hope management does not think just because they are expensing options, they can reward themselves lavishly with options.

The large increase in income tax could mean the earnings losses of past years have been recouped and higher tax rate applies from now on.

Since the company cannot seem to find accretive acquisition, I hope management will start paying a small dividend. Geac generated US$1.22 cash per share FY2005, or CDN$1.52. Surely the company can afford say 30% payout ratio, which comes to CDN$0.45 which is a 4% yield. It'll do wonders to the stock price.

ally@wishin&hopinfor$12.com
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