Netcall Share Discussion Threads

[spaceparallax] 16/11/2010 13:21

frustrating to see this retracing a little - had hoped we'd established C14p support. That said, the mkts are pretty turbulent today, presumably as a result of concerns over the Irish economy.

[johnstonp] 13/10/2010 14:55

Baronsmead VCT picked up a lot more of these - holding now 17%

[spooky] 10/10/2010 22:32

I hate to think :-o)

[effortless cool] 10/10/2010 22:00

What will you eat if they make my £3.15m?

[spooky] 10/10/2010 18:59

If Netcall make a clean £2.3m pre tax i will eat my hat or what ever the correct phrase is.That doesn't mean the shares won't go higher in the short term but they will not make those numbers unless they use a considerable amount of artistic licence;then again that wouldn't be a surprise to clocktower :-o)

[effortless cool] 29/9/2010 11:37

LOL. I'm no fan of the analysts, and have no idea whether Evolution are better or worse than the norm. At least their figures for NET are plausible, however. With my forecasts being more optimistic, I think it makes sense to quote them for balance.

[clocktower] 29/9/2010 11:19

EC, I am not knocking your figures but to suggest Evolution are to be credited with any respect just would make many sick.

[effortless cool] 29/9/2010 06:49

That's a more sensible forecast from Evolution. I've added it to the header.

[giantpeach2] 28/9/2010 15:05

The daily mail say, 'a strong set of results' one to watch i think!!!

[effortless cool] 28/9/2010 08:05

LBO,

I'm bullish because I've run the numbers and see excellent value here.

The market forecasts you quote are rubbish. There are 122m shares in issue, so PBT of £1.4m, with a normalised tax charge, equates to EPS of less than 1p, not 2.2p.

It seems that "the market" (and whoever it is who is quoting the market forecasts in their buy recommendation) has not yet caught up with the fact that Netcall have bought Telephonetics!

In my opinion, the way to make a few bob in equities is to be ahead of "the market". This is easier with small cap shares which are either not analysed or, if they are covered, are usually analysed by numpties.

I can't promise that my analysis is great but I can promise, based on what you quote above, that it is better than "the market's".

[lbo] 27/9/2010 20:41

Effortless why are you so bullish? If the market forecasts are even nearly met then many would be happy with that IMHO

"The market forecasts 2011 PBT and EPS estimates of £1.4m and 2.2p respectively. We see the valuation as attractive, trading on a 2011 PER of 5.7x, an unjustified discount to the sector. The strong recurring revenues encourages us to upgrade our recommendation to a BUY with a one year target price of 18.7p – equivalent to 8.5x prospective PER"

[effortless cool] 27/9/2010 17:51

There you go clocky - header updated ahead of schedule with revised H1 and FY forecasts for 2010/11.

I look forward to your constructive comment and challenge.

[spaceparallax] 27/9/2010 17:05

Pretty solid results

[killieboy] 27/9/2010 13:59

now now children!!

[effortless cool] 27/9/2010 11:45

I'm currently updating and enhancing my model.

I'll update the header tomorrow and then, hopefully, look forward to some constructive input from you.

[clocktower] 27/9/2010 11:39

So EC - pray tell us what forecast you have for H1 - since the RTO has taken place?

[effortless cool] 27/9/2010 11:08

I think you're struggling with the "one-off" concept.

Normalised earnings per share (after adjusting for acquisition costs, amortisation of acquired intangible assets and after applying a 28% tax charge) rose from 0.85p to 0.93p.

I would welcome constructive criticism of the company's strategy and/or performance, but all you've contributed so far is driven by ignorance and prejudice, rather than analysis.

[clocktower] 27/9/2010 10:43

I think you forgot to point out - Earnings per share 0.04p (2009:1.18p) after one off impact of acquisition costs og GBPO.92m

So earnings per share have taken a hefty swipe.

[lbo] 27/9/2010 09:38

Netcall (NET, 12.50p, £15.28m), the provider of customer engagement software, reports prelims to 30 June 2010 are broadly in line with market expectations. Adjusted PBT increased by 23% to £1.02m (2009: £0.83m) on a 5% increase in turnover to £4.13m (H109: £3.93m). Currently 83% (2009: 78%) of revenues are recurring, typically from hosted platforms and maintenance and support agreements. The strong recurring revenue provides the group with excellent visibility. The group is well placed to withstand any further downturn. The recent acquisitions will bolster revenues from the broader product portfolio, the cross selling opportunities and the cost synergies. The business is debt free with net cash of c.£4m to date. Netcall continues to seek organic and acquisitive growth in the fragmented market to enhance greater presence and efficiencies. The outlook statement is positive. The market forecasts 2011 PBT and EPS estimates of £1.4m and 2.2p respectively. We see the valuation as attractive, trading on a 2011 PER of 5.7x, an unjustified discount to the sector. The strong recurring revenues encourages us to upgrade our recommendation to a BUY with a one year target price of 18.7p – equivalent to 8.5x prospective PER