Srt Marine Systems Share Discussion Threads

[kalkanite] 17/11/2016 14:07

hjb1....

"looking to buy more here"

Good heavens! It must be well oversold!
:-)

[hjb1] 17/11/2016 11:16

looking to buy more here, just can't decide how far back this will go.We did seem to have some decent support at 40p but that looks like it's gone now and if we don't get any news until next Jan/Feb then what??
TP, did you say that the Indo deal was all still going fine?

[the prophet] 15/11/2016 15:38

yes, very good points LaV

[philburt] 15/11/2016 15:35

LaV - Good point, well made. Thanks.

[lavalmy] 15/11/2016 15:28

C5

I don't think so. They never have announced a webcast and then sprung a surprise contract on the day of the webcast. Probably breaks a rule of some sort, or at least it should.

You will remember the Indonesian deal which, if anything, deserved a full webcast of its own but did not trigger anything.

I think they will tell us as and when contracts signed and then separately when bits are shipped.

I think something is rather imminent based on the working capital position. They get paid for the Indonesian deal by Qnective under a facility they have. They also generally pay off their creditors and of course have had little need to purchase new stock. But we see that trade and other payables are at £3.2 million and correspondingly trade and other receivables at £4.1 million. These numbers have no correlation with the level of sales in the period. I take it to mean that they owe a bunch of money for stuff, the corresponding debit to which sits in prepayments and accrued income (at cost) and not in stock. If this is so, then obviously something is afoot. If £2 million of the creditor balance is involved, then, at 50% margins, it would look like the sale of £4 million of kit which is not transponders is not far off. How ever many transponders from stock would go off with that kit would be in addition.

Given that sort of outlook, which could be as off the mark as one of Simon's forecasts, and depending on the speed and scale of near term orders, they could well meet the £9.3 million H2 revenues to hit the forecast. But they would have to come in pretty soon if they are to be shipped in time, unless some one wants a big stash of Class A devices in a hurry.

I don't think that whether they miss or hit the £12 million will matter if they announce a few large projects in the meantime.

[the prophet] 15/11/2016 15:20

I would suggest Rivaldo is saying for a company that turned over a couple of mill and lost money it's a tad on the high side.....that's the rear view mirror approach, and, to be fair, SRT has promised lots of times before and we're still waiting for a good set of figures.
This time we've got $100m order or whatever, with more to come, so , this time it's (cough) different.....

[hjb1] 15/11/2016 15:17

Rivaldo, why is it worth noting??

[the prophet] 15/11/2016 15:16

Far too low, good point!

[rivaldo] 15/11/2016 15:15

Worth noting that the m/cap here is now almost exactly £50m. £50m!

Just sayin' :o))

[countryman5] 15/11/2016 14:47

When a webcast is announced, that would suggest that the next deal has been confirmed and might well be an opportune moment to buy. However, you might not be the only buyer.

[the prophet] 15/11/2016 13:44

Many thanks EE, very informative

[eagle eye] 15/11/2016 13:33

I contacted SRT today regards abbreviations used in today's RNS.

Vessel Monitoring System:
VMS - system with functionality customised for fisheries monitoring and management.

Vessel Tracking System:
VTS - system with functionality customised for ports and infrastructure.

MDM - national scale integrated maritime surveillance system for coast guards - but also includes VMS and VTS modules.

All the above comprise of the same elements: vessel transceivers / sensor stations / network management and display: just different functionality.

[the prophet] 15/11/2016 11:22

2vdm

I think the strategy is only to do a broadcast when there is something more to discuss, perhaps when a significant deliverable has been delivered and SRT wish to then update the market. That makes sense.

[2vdm] 15/11/2016 10:15

Hi TP, I'm also getting a bit confused about what is what.Would also be good to hear from ST soon. I think the last broadcast was in June and we had one in mid Dec 2015. Perhaps he can clear up some of these queries.

[the prophet] 15/11/2016 10:04

ok, I've got that, but isn't MDM also used for fishing fleets, so what is the actual difference?
And VTS, is that a fancy name for a few AtoN's and GeoVs?
Slightly confussed by the different nomenclature .
It does seem to change along the way, as soon as I got me head round 'core business' that changed to encompassing everything apart from projects. Clearly MDM comes under projects, do VMS and VTS come under projects and what sort of kit do you have to have in each for them to be classed as whatever?

I guess it's all unimportant as bottom line is the bottom line, and this kind of re-badging may well help with presenting the products to customers. Just that some of us poor old investors have to get our head around another set of abbreviations....

[hjb1] 15/11/2016 09:57

VMS is for fishing fleets!

[the prophet] 15/11/2016 09:51

Not absolutely sure what the differences are between MDM, VMS and VTS are. MDM's the all singing all dancing biggie, VTS is aimed more at ports/infrastructure and VMS, somewhere inbetween, whatever that is?.....
They all involve transceivers and GeoVS so not really sure what the difference is when it comes to shipping the stuff out and setting it up?.....

[the prophet] 15/11/2016 09:44

All looks as expected to be, good to see the tenor in the TU is repeated. Rogers is not known for mis-placed optimism, imo, and he says they have 'great optimism'.

As others have pointed out, 'multiple projects underway' is very desirable, it's what SRT have required for the last few years, so to hear this will be 'soon' is good news indeed. Add this to the ' we expect will result in the completion of significant deliverables during the second half ' and we should be in for a very good second half.
Lovely!

[lavalmy] 15/11/2016 08:59

It looks like they are preparing the ground for some proper forecasts, which would be nice, even if they end up being wrong - something I regard as inevitable. Though they probably will look to keep them very conserative.

The combination of '(we) will update the market with further announcements and guidance as project deliverables are completed and new projects commence' and the 'will soon have multiple projects underway which we hope will provide a natural hedge in regards to revenue timings across our reporting periods' would seem to validate that. They may not tell us who is doing what, but we are pretty good at guessing, and it sounds like they will continue to tell us of contract signings and their expected size as they come in, but keep with this 'deliverables' idea, at least for a while.

I still think it is largely irrelevant what they book in H2. 'We saw significant progress in a number of large VMS and MDM projects' suggests more than three are on the horizon, as well as other stuff getting closer, but the caveat seems to be 'once contracts are signed and work commences, the completion and therefore invoicing of project milestone deliverables can take many months due to component lead times, shipping and customs, and finally installation and commissioning.' It is a point I made the other day, but I reckon that once a number of large VMS and MDM projects are signed, the outcome will be a share price north of the magical £1 and earnings in the double digits for next year.

[kinbasket] 15/11/2016 08:22

I was hoping today would provide enough liquidity to flip some of mine between accounts but there is very little stock so far and the MMs have kept the spread wide.

Back to sleep I guess....

[goodapple] 15/11/2016 08:18

I take comfort from the " ....high profile orders for our VTS systems from.... a second large port in Malaysia."
I recall ST saying they were very happy with the first port. This is the sort of customer validation which carries weight.

[yump] 15/11/2016 08:13

Nomads, analysts, financial bloggers, pundits, institutions, 'shrewd' large individual investor 'known names' (as in the ones that are touted on BB's as being positive for a company or on other occasions, ones that are touted as being opportunistic asset-strippers)...

None exist to make anyone here any money.

[hjb1] 15/11/2016 08:06

last time I looked SRT were not Chinese!

[trident5] 15/11/2016 08:06

FFT - agreed - the NOMADS are utter clowns