Ithaca Energy Share Discussion Threads

[tom306] 10/7/2008 09:54

You're right, Utterly. I had expected the final dividend to boost the share price but instead it is down a third since the results were announced in June. The final dividend will eat up £1.5m of the near £2m they had in cash and perhaps that and the current profit stall in the UK explains the drop? Another possible explanation is that the market may doubt they can match the dividend this year. They made £3.2m after tax last time and paid a dividend of nearly £3m. With the UK hit by the loss of the GM and DfT contracts and the £0.5m increase in fixed costs announced by them with the results, the overseas business better accelerate if they are to pay out £3m this year.

[utterly pointless] 10/7/2008 09:12

It is not incorrect. It is absolutely correct. An interim dividend of 1.5p was paid in February 2008 and a final dividend has been declared of a further 1.5p to be paid in September. That makes 3p giving a yield of more than 10%.

[flyfisher] 10/7/2008 09:00

utterly, your yield figure is incorrect, itis has so far only paid a final dividend.
good luck.

[russianlinesman] 07/7/2008 17:59

"Over 2,100 journeys were made on routes around Hampshire including the M27, M3, A3 and the notorious M25 to provide data for analysis. Additional speed data came from the British Highways Agency data to form the background knowledge needed within the AI system."

2,100 journeys! and that's the reason for the price fall. Er...and ITH and (dare I say it TFC) have databases with millions of journeys on them. Cadre works with special devices, as opposed to being inside TomToms (TomTom's P2P system is basically the same thing)

IMHO Price has falled as perception that ex-growth UK, and overseas revenues will take time to come on line.

And an awful lot of AIM stocks being pummeled at the moment. Presumably there's a bunch of PIs selling their shares due to nervousness - and a few using the proceeds to pay down the mortgage.

Some AIM stocks will become very vulnerable to M&A activity, be it takeover or MBO, and I'd say there'd be a few sniffing round ITH if it stays here very long. If not that, then Stuart Marks will be trying to raise the money to buy back the 70% back he doesn't still own.

[utterly pointless] 07/7/2008 11:16

interesting post, hew, thanks... One could, of course, always ask ITIS Investor Relations dept. They tend to be quite helpful to PIs where the co. has a small cap and is illiquid (basically because they know that PIs make the market)...

[hew] 07/7/2008 10:55

CADRE ??

Lots of coverage (try Google) in a tone implying that nonesuch exists already!

HOWEVER I don't see ITIS mentioned in the list of developers.



" The project is being developed by a consortium, consisting of the University of Portsmouth, ComSine, Smartcom Software, the Transport Research Laboratory, ViaMichelin and Hampshire County Council. "

A factor behind the share price slump? (Technical mentions been about all year, but now seeing a practical product.)

[utterly pointless] 07/7/2008 09:12

There was pretty consistent selling until Thursday... and this is not a particularly liquid stock. I guess I rather attributed it to that. Certainly some buys on Thursday stopped the rot (touch wood). It seems fantastically cheap to me - a good growth story in a market ripe for consolidation and paying a 10% dividend...

[tom306] 07/7/2008 09:08

Down 40% in the last two months is not a good sign for a profitable company, paying a dividend and with cash in the bank. It was particularly weak last week with no apparent reason. Have their brokers published revised forecasts?

[niggle] 18/6/2008 12:59

That 'double tit' formation doesn't look good does it?

[tom306] 17/6/2008 09:35

They had a one-off gain on the disposal of Navtrak in 2007 which boosted EPS.
Of more immediate concern are the comments about the impact of the loss of the Vauxhall and Dft contracts and flat IVR revenues. The Prospects section, whilst bullish about the long term international business, says nothing about the UK market which is the majority of revenue and profits. It will be interesting to see what their analyst forecasts for 2009.

[russianlinesman] 17/6/2008 09:15

I am not sure I understand the EPS fall. Trafficlink was acquired with cash not shares so the number of shares has not gone up. I need to read this again. You're right - headline EPS is lower, but rarely do you see a board say they have 'great confidence' (right at the end).

Needs more thought.

[sdavis] 17/6/2008 07:46

What WONDERFUL results.......... until you see the EPS now at 3.2p, down from 5.2p. A triumph of spin over substance. Expect shares to fall IMHO.

[tom306] 11/6/2008 14:22

Does anyone understand the Garmin deal announced by Itis in March?

In yesterday's AGM statement, Tm said "We are also delighted to announce today the extension of Trafficmaster's contract to supply its RDS TMC to Garmin for three years. Trafficmaster will continue to provide traffic information via RDS TMC to the existing range of Garmin supported products as well as Garmin's new series of navigation systems, due to be launched in the UK this summer. In addition, the Trafficmaster RDS TMC service will now also be available on the new entry level Garmin product line"

Does this mean that on some of the new Garmin products you will be able to specify TM or ITH as the info provider?

[moonlight83] 18/5/2008 12:01

"Are Trafficlink a threat?" Sorry, I meant to say, "Are Trafficmaster a threat?".

Also, "breakdown of revenue", I refer to the contracts they have and how much each is/will be generating.

[moonlight83] 18/5/2008 10:24

Meenashah, you're dead right, this market is very hard to read.

I've almost completed my DD on ITIS, based on fundamentals, and I've reached the decision I'm going to buy into this sooner or later. The cash balance they've built up is 1/3 of their Market Cap, and this is a big plus given today's borrowing problems for small caps.

But I'd like to find out more about competition and figure out how/if ITH could loose market share to some other company, either in UK or abroad.
Who could give ITH searious problems? Are Trafficlink a threat?

Also I'd love to see a breakdown of their revenue for 2006. Anybody any ideas?

Cheers lads,
ml83

[meenashah] 08/5/2008 12:41

ITIS has gone through the 200 day mav - look a good sign

[chairman2] 30/4/2008 14:15

I've cheered up a bit

but not so far as actually to buy any AIM technology companies

The Tanfield debacle (if thats not far too severe a word)
convinces me that this market is still hard to read.

[flyfisher] 30/4/2008 08:56

arbuthnot had already increased its forecasts for itis prior to the recent positive trading statement, i expect that the other covering brokers will follow suit, it will be interesting to see the international potential in the upcoming results

[thailand] 28/4/2008 07:24

Positive trading statement this morning,this company doesn't do disappointment, when will the market recognise this and give it a realistic rating?

[flyfisher] 15/4/2008 13:48

chairman2

rather belatedly , thanks for your reply. in contrast to your bearish views on aim stocks, i am of the opinion that aim is oversold and that some value is to be had and would view itis in that category, prospects for international roll out seem to be good, it has generated the cash for the recent aquisition without recourse to the shareholders and rarely for an aim stock it pays a reasonable dividend , it was obviously set back by the d.o.t. contract loss but,on balance,i am mildly bullish and am long, but what do i know!
good luck
phil

[chairman2] 26/3/2008 12:44

bearish on Aim generally

liquidity right out of the market

more moeny to be made more safely in mid caps.

Aim technology stocks especially vulnerabel.


Turning to the business models - too many companies in this sector
are looking for volume, turnover at the cost of margin. Even further
down managements pecking order seems to me maximising short term
returns for shareholders. One can see this in the way deals seem
to deliver adverse share reaction - ie somtehing for the company
and who gives a s...t for the shareholder - he/she can wait.

[flyfisher] 26/3/2008 09:54

chairman2 , do i take it that you are bearish on itis, i would be interested in your views

[chairman2] 25/3/2008 22:44

so thats what its about - survival

[grgkecer] 09/3/2008 09:42

Sunday Times

Itis Holdings

Alongside Trafficmaster, the AIM-listed Itis Holdings is the London stock market's only sizeable survivor of the turn-of-the-decade boom in vehicle telematics: the provision of real-time traffic and location data to drivers.

That is not to say that investors have enjoyed a smooth ride in the eight years since flotation. At yesterday's 43p, the shares sit at one quarter of their issue price.

The flipside is that Itis is now a growing, profitable company with a yield - it paid a maiden interim dividend last week - and technology that is gaining wider acceptance.

Evidence of such progress came with the announcement yesterday of a three-year deal to provide Garmin with UK traffic flow information for the US company's new range of in-car satellite navigation devices.

What is interesting about the tie-up is that Itis's traffic data will be bundled with Garmin's lower-priced products, signalling that a service once within reach of only the well-heeled motorist is now entering the mainstream.

It also cements Itis's relationship with Garmin, with which it is working, alongside Telefónica, in a pilot traffic information project in Barcelona.

Coupled with ITIS's £10.5 million purchase of Trafficlink in December, the deal should help to underpin sentiment after the loss of a high-margin contract with the Department for Transport.

In the meantime, a nascent overseas business - forged through joint ventures - is gaining momentum in Belgium, the US, Asia and Australia. At nine times current-year forecasts, Itis is inexpensive given double-digit earnings growth. Buy.

[thailand] 29/2/2008 15:47

nice chunky dividend received today