Dicom Share Discussion Threads

[wjccghcc] 25/8/2005 14:07

Thanks mdrans1. Wonder when the carrefour contract will kick in.

[mdrans1] 25/8/2005 13:31

Today's Shares Mag Page 50

Dicom
(DCM) 972p
Buy ahead of finals on 31 August.
DCM has a market-leading
position in the fast-growing
information-capture market, with
an impressive track record. It
had a relatively weak
performance in Q3 and should
be back on track with these
results and outlook statement.
Disappointing sales in Q3
were more a result of contracttiming
issues, not a sign of
competitive pressures or a
slowing market. The informationcapture
market is forecast to
deliver double-digit growth for
the foreseeable future but
demand is expected to shift to
business-process automation
projects, an area where DCM is
starting to win some large-scale
contracts.

Target £10.50

[wjccghcc] 10/8/2005 11:19

Thanks Harry. Results in 3 weeks which they've already said are in line with expectations. PE of 16.5 for next year which for the global leader in document capture software is pretty cheap. If only they could offload the swiss flat screen business there'd be a big rerating here IMHO.

[harrykewill] 10/8/2005 10:54

DJ MARKET TALK: Baird Starts Dicom at Outperform >DCM.LN

0922 GMT [Dow Jones] Baird initiates coverage of Dicom (DCM.LN) with at outperform, 12-month price target at 1100p. Says document capture market is booming and even assuming the most pessimistic scenario, the stock is undervalued. Says 3Q results were modestly disappointing but sees this as a timing issue, not a trend. Trades -0.7% at 965p. (NPF)

[mdrans1] 07/8/2005 17:10

It's rolling PEG 1 is 0.86 and the share price is running parallel to, if a little below it's 12 month +41% trend line. Don't fall in love, but "the trend is your friend" and I cannot think why it should be "the 41st most unloved share".

[welsheagle] 07/8/2005 16:24

Forgot to say that the last item was in a recent Times article

[welsheagle] 07/8/2005 16:23

Dicom was listed as the 41st most unloved share, based on its fundamental figures.

[welsheagle] 24/5/2005 20:15

Thanks, Kenmill.

[kenmill] 24/5/2005 14:44

It was a main recommendation - so full page Company Refs style detail. Final paragraph states Ascent and VRS not easily substitutable. VRS is the de facto industry standard supporting over 50 models of scanner and Ascent is the most popular information capture product with over 75,000 licences shipped. Companies switching to Dicom products show productivity gains of between 20-60%. The company is optimistic about its growth prospects and at 914p, the company is on a prospective PER of 14.5 and a PEG of 0.53.
In addition to being a main recommendation it was first in a list of recommendations by Guy Feld on another page, where he listed companies described as capable of surviving even the most bearish markets because of their secular growth opportunities due to the technology being in an area of technological change. Secular, in this case, describing areas which will continue to offer investors substantial long-term growth not affected by the vagaries of the economic cycle. Feld was MD of Research at Teather & Greenwood before joining the top performing small cap fund manager Giles Hargreave at Hargreave Hale in 2003. He considers the total market for content management in 2003 was $2.93 billion and is growing.

[welsheagle] 23/5/2005 20:37

Can you post the jist of the IFG article, Kenmill.

[kenmill] 23/5/2005 08:23

Recommended in IFG over the weekend - causing a tick up this morning

[welsheagle] 21/5/2005 20:40

Latest figures from this month's 'Company Refs':-
a/ Prospective PE ratio of 16.0 (based on three broker forecasts, three of which recommend 'buy', and one recommending 'market perform').
b/ Prospective PEG ratio of 0.61.
c/ Forecast growth in eps of 26.1%.
d/ Net cash per share of 102p per share (gearing -29.3%).
e/ Cash flow per share of 72.4p.
f/ Turnover up from £99.2m to £156.0m in last five years.

[wham2003] 15/5/2005 18:35

under £8... i am afraid...

[mdrans1] 15/5/2005 15:41

The trend line over the past two years that I have held DICOM is running at about 34% p.a. There have been two sharp dips in 2004 which were slightly larger in magnitude than last weeks price fall. Neither of these signalled a trend reversal and would have been good buying opportunities. The story has not changed ( rolling PEG1 0.69 ) so I would expect the trend to continue in the same direction.

[little beaker] 13/5/2005 14:27

Perhaps they have revised down Q4 and 2006 profit forecasts?

[jeffian] 13/5/2005 11:05

After the recent strong run one might expect some profit-taking but recent markdowns seem very harsh on little trading volume. 3rd Quarter figures read well to me.

Regards, Ian

[welsheagle] 11/5/2005 19:41

LONDON (AFX) - Dicom Group PLC, which develops products and services for the
information capture (IC) market, said underlying profits for the first nine
months hit record levels, driven by a continuous shift in the revenue mix
towards the company's own, higher margin IC products.
For the nine months to March 31, 2005, DICOM recorded a 17 pct year-on-year
rise in profits before tax and goodwill amortisation to 11.8 mln stg on sales up
13 pct to 133.4 mln stg. This gave adjusted earnings per share of 38.9 pence
compared to 34.7 pence a year earlier.
Looking ahead, chairman Otto Schmid said: "The group is well positioned as
the global industry leader in the Information Capture market. The balance sheet
is strong and the Group continues to be highly cash generative.
"The US dollar remains weak, reducing the sterling value of our US operating
profits. However, current trading and good growth prospects enable us to view
the Group's outlook for the full year with optimism."

[wham2003] 10/5/2005 07:43

it's there...what's next?

[welsheagle] 10/5/2005 07:26

RNS Number:0817M
Dicom Group PLC
10 May 2005

DICOM Group plc
Results Nine Months to 31 March 2005

Record Pre-tax Profits, Optimistic Full Year Outlook

Basingstoke, 10 May 2005 - DICOM Group plc ("DICOM Group"), the global leader in
the Information Capture ("IC") market, announces strong results for the nine
months to 31 March 2005.

Financial Highlights for the Nine Months to 31 March 2005

Group results

* Turnover up 13% to #133.4m (9 months to 31 March 2004: #117.6m)
* Gross profit margins up from 40.1% to 41.9%
* Operating profits before goodwill amortisation up 14% to #11.3m
(#9.9m); margins unchanged at 8.4%
* Operating profits in local currency terms and adjusted for
acquisitions up 11%
* Record Profits before tax and goodwill amortisation up 17% to #11.8m
(#10.1m)
* Adjusted earnings per share up 12% to 38.9p (34.7p)
* Operating activities generated positive cash flow of #11.1m (#12.1m)
* Net funds of #8.6m (#20.9m at year-end at 30 June 2004), after
spending #20.4m on acquisitions

Results of Information Capture (IC) Division, representing 90% of operating
profits

* Turnover up 15% to #102.4m (#89.4m), organic growth of 10% in local
currency terms
* IC own products and services now account for 60% (56%) of IC sales, up
4% and 27% respectively in local currency terms and adjusted for
acquisitions
* Gross profit margins increased to 50.6% (48.0%)
* Operating profits up 15% to #10.1m (#8.8m); margins unchanged at 9.9%
* Operating profits in local currency terms and adjusted for
acquisitions up 11%

Operating Highlights

* Win of a multinational Invoice Capture Deal with The Carrefour Group
(more than 20 countries)
* Successful launch of new products versions - Ascent Capture 7.0,
Virtual ReScan 4.0 and Capio 1.5
* US subsidiary Kofax named to KMWorld's Annual List of "100 Companies
that Matter in Knowledge Management" for 2005
* DICOM and Kofax named Overall Global Market Share Leader for Document
Capture Software by Harvey Spencer Associates


Commenting, Arnold von Buren, Chief Executive Officer of DICOM Group said:

"We are pleased to announce strong results, particularly driven by the
continuous shift in the revenue mix towards our higher margin IC own products
and services. Following the recently launched new product versions of Ascent
Capture, Virtual ReScan and Capio, we have again significantly enhanced our
industry-leading image processing and capture technology. The win of the Invoice
Capture Deal with The Carrefour Group is testament to the fact that our Advanced
Forms capture solutions (forms, invoices) are well received by the market and
are providing for good growth opportunities."

Regarding Prospects, Otto Schmid, Chairman of DICOM Group said:

"The Group is well positioned as the global industry leader in the Information
Capture market. The balance sheet is strong and the Group continues to be highly
cash generative. Our continued investment in technology, our well-known industry
leading products, our customer base and channel partnerships are all key for
further growth of our market leadership in Information Capture. The US Dollar
remains weak, reducing the sterling value of our US operating profits. However,
current trading and good growth prospects enable us to view the Group's outlook
for the full year with optimism."

[stoph] 15/4/2005 17:21

Carrefour are the world's second biggest retailer to Walmart.

[wjccghcc] 15/4/2005 14:49

Aren't Carrefour Europe's largest retailer?

[v11slr] 15/4/2005 09:50

Hopefully they can. Have a look here for some of their current customers, Everyone from Fedex, the US Army to the Modern Woodmen of America.

[monty burns] 15/4/2005 09:01

That's huge - a real business transformation deal.

Just hope they can manage the implementation - the complexities should not be underestimated.

[v11slr] 15/4/2005 08:56

RNS Number:1004L
Dicom Group PLC
15 April 2005



DICOM Group plc:

Signs Invoice Capture Deal with The Carrefour Group


Basingstoke, 15 April 2005 - DICOM Group plc ("DICOM Group"), the global leader
in the Information Capture market, announces that it has signed a three-year
technology agreement with The Carrefour Group, the largest retailer in Europe
and the second largest in the world, to provide an invoice-capture system to
help process tens of millions of invoices that the company receives each year
from its suppliers. As part of the agreement, DICOM has begun implementing
Ascent for Invoices, an accounts payable (AP) solution from its wholly owned
subsidiary Kofax, across Carrefour locations in more than 20 countries on three
continents (Europe, Asia, and South America).


The first successful Carrefour deployment of Ascent for Invoices, a joint
installation completed in tandem with DICOM partner ARCO Information NV/SA, has
been completed in Belgium. The Ascent for Invoices system will help process
millions of invoices each year from the thousands of suppliers from which
Carrefour purchases its products. Invoice data captured by Ascent for Invoices
will be loaded into a Carrefour proprietary invoice-matching system and migrated
to a PeopleSoft ERP (enterprise resource planning) system. In a few geographies
where scanning must be performed at remote offices, DICOM will implement the
Ascent Capture Internet Server (ACIS) to capture and transport documents and
data from Carrefour's remote offices directly into a central Ascent system.


"The sheer scope of this deal represents a landmark achievement for DICOM and
illustrates a true multi-national, enterprise-scale implementation of our
technology. Carrefour's decision to partner with DICOM showcases our unmatched
worldwide capabilities in the information capture market and is a great
testament to the strength of our invoice capture technology in complex,
high-volume environments," said Arnold von Buren, Chief Executive Officer, DICOM
Group. "Ascent's remote capture capabilities are a competitive differentiator
for DICOM and enable us to address Carrefour's specific requirements for a
capture solution that enables its remote offices to achieve time or cost
efficiencies. Through Ascent, we can offer Carrefour a fully scalable
invoice-processing solution that meets the dynamic capture needs of its retail
locations around the world."

[wjccghcc] 04/4/2005 08:05

Well he started selling at under 5 quid so you missed out on a good return. The guy's retiring so you can hardly blame him.