Solid State Share Discussion Threads

[glasshalfull] 07/7/2015 08:03

Excellent results as forecast.

From WH Ireland,

"Today’s FY15 results are marginally ahead of our numbers post April’s trading update and represent another year of impressive growth (+14% at the revenue line feeding a +32% hike in adjusted EPS). This rounds off arguably the most successful year in Solid’s 19-year history as a public company, one which saw the award of a £34m contract with the Ministry of Justice to provide electronic offender tagging hardware over a three year period.
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The current year will benefit from the first material revenue from MoJ in addition to a first-time contribution from Ginsbury Electronics (acquired April) and some decent organic growth at both Manufacturing and Distribution.
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We leave current year numbers unchanged, expecting a substantial uplift (~60%) in both revenue and PBT. Our newly-introduced FY17 forecasts project mid-single digit organic growth together with a same-again £15m revenue contribution from MoJ. This yields adjusted PBT of £5.77m and EPS of 60.9p and a 22p/share dividend."

SOLI remains a core holding for me...and will for some time to come.

Regards,
GHF

[kalkanite] 03/7/2015 08:39

Nice, hitting a new high with results due out on Tuesday.

[dasv] 02/7/2015 15:16

cheers Metier9

[metier9] 02/7/2015 14:40

Tipped in Shares which is irritating as I was contemplating dumping my ISA allowance in here for a top up.

[anisha] 20/5/2015 22:17

rhia share has gone up 25% in one month and the bulletin board is dead
3 postings since april 8th
last rns was very upbeat earnings up from 6.6p tp 25 p in 4 years wow

[metier9] 12/5/2015 21:11

The couple of years before last where June.

[glaws2] 12/5/2015 14:32

Steadily creeping back up. AS far as I am aware there is no news due until the release of the results - early July last year.

[dasv] 02/4/2015 09:57

cheers Glasshalfull

Glad I bought the dip now!

[glaws2] 02/4/2015 08:54

Thanks GHF

[glasshalfull] 02/4/2015 08:40

Congrats to company on an excellent year.

Per WH Ireland,

"This mornings pre- close suggests SOLI is on track to at least meet our FY15 PBT number (March year end) albeit revenue will be slightly lower due to the exit from certain high volume, low margin business. At the EPS level, this would represent y-o-y growth of c. 10% and rounds off a hugely successful year for SOLI, one which saw the award of a £34m electronic tagging contract with the MoJ. SOLI has also announced the £2.1m acquisition this morning of Ginsbury Electronics, a specialist in display components monitors, panels, signage and power components to the commercial, retail, industrial and military markets which will sit well in Solid State Supplies.

As a result, we put through a modest 3% upgrade in our FY16 EPS figure from 54.5p to 56.0p and, consequently, a 3% increase in our target price from 763p to 784p. This upgrade, coupled with recent share price weakness, means that the shares can be picked up on 11.3x current year earnings, too low in our view with the MoJ business to start to contribute in earnest this year."

Kind regards,
GHF

[glaws2] 02/4/2015 08:06

Positive news release both on trading and acquisition.

[stegrego] 27/3/2015 16:37

Bought a few at 615. Looking to buy on weakness.

[metier9] 26/3/2015 15:14

They will also have a nice chunk of cash from the MOJ contract to invest in the business. Hargreaves Hale doesn't have a 15% holding just for the kicks.

[henryatkin] 26/3/2015 14:57

Steg....Surely the hope must be that over the next couple of years other contracts will be secured. Additionally, if the contract has run smoothly they may start the re-tendering process as preferred bidder.

[dasv] 26/3/2015 14:34

henryatkin - thanks for post. I was wondering if there was a fundamental reason - but with this level of liquidity, the trailing stop thesis even for a small number of traders could I guess have an impact.

I think the stock is cheap on a GARP basis.

[wjccghcc] 26/3/2015 13:06

Perhaps, but it is a three year contract so runs until end 2017. Also, it will need renewing (though obviously they'll have to win the renewal).

[henryatkin] 26/3/2015 13:06

dasv....Given there is no short interest the reason for the fall is trailing stops being hit before new buyers are prepared to come in. I got stopped out in January with a 40ema trailing stop. A hundred different traders will have a hundred different trailing stops which are gradually getting taken out unless buyers come in. So the question to ask is why buyers are not coming in and I can only presume its because they think its still too expensive.

[stegrego] 26/3/2015 12:55

I worry what happens when mod contract ends. Back to 30p eps then?

[dasv] 26/3/2015 11:51

I picked up a few at 594. Forward PEG of 0.3 now (forward PE of 12, EPS growth forecast 69.7%).

[wjccghcc] 26/3/2015 11:37

Pretty illiquid. Added a few at 585p.

[metier9] 26/3/2015 11:32

I haven't got a clue for the reason for the fall. I don't think they have a large exposure to oil and gas just waffle for who they can supply.

[dasv] 26/3/2015 11:12

no idea for reason for fall. I'd be interested to hear if anyone has any theories.

[tiswas] 26/3/2015 11:11

Is this falling away because of their exposure to oil and gas? Is it material?