Sdi Share Discussion Threads

[rivaldo] 30/7/2018 10:14

Good to see consistent buying this morning finally leading to a tick up.

Wilmdav, Finncap came in with 2.48p adjusted EPS for last year, so I was just slightly closer than you :o))

[greyingsurfer] 28/7/2018 13:20

Hi Rhomboid, yes I've been here for about 18months, though foolishly sold half a while back! No plans to sell the rest though.Best regards Peter

[rhomboid] 27/7/2018 20:57

Hello Peter..(greyingsurfer)

Good to see you here..trust you’re well..are you also invested here?

Best Regards irrespective 👍

[greyingsurfer] 27/7/2018 20:49

Just for the record that quote is from Graham Neary, not Paul Scott.

[petewy] 27/7/2018 20:42

Paul Scott quote Small Cap Value "I didn't think I would be saying this, this morning, but I've seen enough now to buy into what SDI management are doing.

[pireric] 27/7/2018 20:08

Cheers for the link Wilmdav. Nice to see the numbers in graphical form without having to open excel

[buywell3] 27/7/2018 16:28

I am going to update this next week based upon todays results

It gets better

buywell3 - 27 Apr 2018 - 14:26:26 - 1140 of 1231 SDI - Global & Niche imaging portfolio for scientific & medical users - SDI
................... Time for some numbers ......................

As I have posted recently IMO SDI should hit £1 within 5 years , I said it first
(I don't hide my light under any bushel/s)


Last Interims

Unaudited Interim Results for the six months to 31 October 2017



Scientific Digital Imaging plc, the AIM quoted group focused on the design and manufacture of scientific and technology products for use by the life science, healthcare, astronomy, consumer manufacturing and art conservation markets, is pleased to announce its unaudited interim results for the six months ended 31 October 2017.





Highlights

· Revenue increased by 34% to £6,552,000 (2016: £4,902,000)

· Revenue growth driven by organic and acquisitions; the organic revenue growth was delivered by Sentek and Atik Cameras with the growth from acquisitions delivered by Astles Control Systems and Applied Thermal Control

· Gross margin increased to 67.0% (2016: 63.6%)

· Adjusted profit before tax* increased by 140% to £1,089,000 (2016: £454,000)

· Profit before tax increased by 106% to £846,000 (2016: £410,000)

· Basic earnings per share increased by 53% to 0.98p (2016: 0.64p)

· Acquisition of Applied Thermal Control in August 2017



My post

buywell3 - 30 Jan 2018 - 08:28:43 - 1059 of 1140 SDI - Global & Niche imaging portfolio for scientific & medical users - SDI

SDI second half turnover over 1st half should be another 1M from ATC alone

Plus whatever NHS ProReveal orders come in to meet July 2018 DoH date

Plus improvements on existing divisions , say another 10% (conservative )

A decent chance to add around 2M to 2.5M in second half over 1st half

earnings per share of around 1.25 to maybe 1.5p second half if current Sentek trading carries on the way it is

Hence I now think following todays update(which supports the above) , that

Turnover for the year should be circa £15.5M , and that earnings per share should now be circa 2.5p a share , not bad eh.


But it gets better


I posted


buywell3 - 31 Jan 2018 - 18:42:35 - 1069 of 1140 SDI - Global & Niche imaging portfolio for scientific & medical users - SDI

Let me be the first to give this share the £1 call

Assuming the BOD carry on the same way buying one small cap company per year making profits and with little/no debt, in the same way they have for the last 4 to 5 years , that give X selling opportunities and a bigger spread of offerings for clients ... that FIT what SDI do


A 10% increase in turnover each year looks doable

Profits should be over £4M within 4 years as of now

My call for SDI is 100p within 5 years



Added today

If my £15.5M turnover call for the full year proves correct then 10% uplift yearly equates to around £24.3M ... £4M plus profits look easily doable


BUT if SDI does indeed align itself to the Bioprocess Industry , then 12.5% yearly looks likely ie £27.1M turnover and £6M profits

At a P/E of a measly 17:1 this would give SDI a market cap of £102M over 3 times todays Mkt Cap of 33


I think we will see another EU buyer of SDI shares within 6 months IMO

The Bioprocess market is hot .... hence the new coolers that ATC have developed will sell well.

''Applied Thermal Control

ATC, acquired in August 2017, is redesigning one of its chiller systems to comply with new EU regulations prohibiting the sale of equipment containing fluorinated greenhouse gas from 2022. These new chillers will work in bioprocessing systems and will be tested for use by one of the world's largest suppliers of bioprocess automation. This is a growing market which is also served by our Sentek brand. ATC is a complementary fit to the SDI Group and provides potential areas for growth as ATC can access our European network of dealers to market their products''


''Sentek

Sentek increased sales turnover by 23% in the period, driven by continuing strong sales growth of its single-use electrodes. These electrodes are used in bioprocessing and process analytics applications and Sentek is an OEM supplier to two major life science and healthcare companies. Since sales of the systems made by these companies are increasing globally to pharmaceuticals and biotech customers, sales of the electrodes continue to grow in line. Sentek has also seen growth in demand for its ion selective electrodes as a major UK competitor has ceased trading leaving Sentek as the only UK manufacturer of this type of electrode. To ensure the brand maintains quality and meets production demands, Sentek has leased an additional building to double the size of its manufacturing facility and has recruited additional production staff.''

re our new German Investors , Siemens gets a mention

''Arguably, the real star and seemingly a gem of a buy for the company has come in the shape of Sentek which produces pH conductivity sensors for water based applications. This division saw an impressive 23 per cent increase in revenues to £1.7m which was driven by strong demand from various OEM customers that includes Siemens TAP Biosystems which serves the fast growing bioprocessing segment of the Pharma and Biotech markets. ''

[wilmdav] 27/7/2018 14:32

I arrived at 2.43p adjusted eps, which is virtually identical to that of rivaldo. We have probably estimated different amounts of tax on adjusted pre-tax profits.

Here's my usual spreadsheet.

[hastings] 27/7/2018 12:54

Very happy with SDI's performance.When I first met Mike and Ken the share price was on its knees as they outlined their strategy for growth. Four years on they've delivered handsomely and look set to accelerate that.Spoken with both this morning and will endeavour to provide a write up in due course.

[buywell3] 27/7/2018 10:25

................. SDI --- buywell3 LOVES YOU .................


What a great set of results

What a great BoD

I can't find a single thing to have a moan or pop at , which is very rare for me(possibly a first)

The only moan I have is with the Nomad ... who now; given SDI's track record of growth for the last 3 years , together with SDI's stated intentions of another acquisition before Dec 31st 2018 ... and now in the results possibly another in early 2019 needs to get real.

Growth of 20% in the next year looks very achievable even WITHOUT an acquisition, why ?

The latest two acquisitions only contributed earnings for 9 months and 3 months in todays results

So we have another 33.3% to come from ATC and around 90% from QSI in the next years results end april 2019 , PLUS , all other parts of the SDI Group look well set for continued organic growth.

Thus the SDI Nomad has to rework his forecast SDI model ASAP

50p NOW as is , after the next acquisition 55p Min

After another good trading update following the next acquisition or news of a decent order/s for the new ATC Chillers 60p.

love you lots
buywell3 xxxXXX

[cheshire man] 27/7/2018 08:47

More then pleasead with news this morning :-)

[pireric] 27/7/2018 07:55

Helpful, thanks Hastings. That's attractive. Should continue to be a steady burner on an upward march (fingers crossed!)

[cfro] 27/7/2018 07:54

Very pleased with these results.

Brilliant stuff with Revenues up 35% and PBT up a massive 90%. Basic EPS up 55% to 1.81p.

Both ATC and QSI have yet to give a full years contribution too. Good to see the cashflow increasing massively also up about 60% from last year.

[hastings] 27/7/2018 07:48

FinnCap have pencilled in Pre-tax profit of £2.5m this year rising to £2.7m next year, although another acquisition or two will alter that.

[pireric] 27/7/2018 07:43

Very happy with that; much better than expected for FY17, using adj PBT of £2.3m Vs that £2.1m forecast

At least one acquisition sounds good and overall reads very well. Have identified several potential target acquisitions. Looking forward to those as they are announced given the larger debt facility they now have in place. Should be able to deliver easy double digit accretion from that. If anyone sees the Finncap update this morn then would appreciate a summary. Will do the same if I come across it

[modform] 27/7/2018 07:38

Well done management for another good set of results

[hastings] 27/7/2018 07:32

You've summed it up perfectly rivaldo, just add, cash generation was excellent and that was something which for so long had been absent.Forward picture is very positive and suffice to say I'd expect the next acquisition to be another good find.

[rivaldo] 27/7/2018 07:21

Terrific results - ahead of expectations - and a very confident outlook.

I calculate (since they don't show it) 2.46p adjusted EPS after adding back £294k amortisation and £293k of exceptionals and share-based payments. Certainly £2.3m adjusted PBT is well ahead of £2,1m forecasts, as is revenue at £14.5m.

They specifically state another acquisition is expected before December 31st.

Every division now seems to be performing well - a credit to management.

Sentek looks to be a monster gathering steam. Atik is thriving with new products. The acquisitions look great - little QSI is already profitable.

ProReveal is also looking terrifically promising, with recurring income now coming through.

Great stuff.

[pireric] 27/7/2018 06:09

That's almost backward looking now though and I'd expect the company to have almost signalled the broker towards there. For FY18 my personal hopes are for 2.2p of EPS IIRC but don't have my model to hand. That's less ambitious than it looks but

A) we've got some supposed exceptional in the 2017 base, one off sales, low tax
B) I don't factor in acquisitions (and their accretion) until they actually happen so while I'm thinking 2.2p now, that's not 2.2p at the end of the year

Far more interested today in how the top line will grow and their confidence around that.

[dangersimpson2] 27/7/2018 00:19

Looking at the broker trend I think they may have been upgraded to 2.1p due to the April 'slightly ahead' trading statement so anything above 2.1p would be a really great result.

[pireric] 26/7/2018 22:37

Surely we won't get that level of detail around forward forecasts? Might have to wait for an update from the brokers for that

Looking for 2.1p EPS for FY17 give or take 0.05p and then something to give a clue about the forward growth rates

[hastings] 26/7/2018 21:07

Likewise rivaldo, we will see tomorrow.

[rivaldo] 26/7/2018 19:52

Forecasts are for 2.1p historic EPS. I'll be happy with say 2.3p EPS, along with anything above the projected £2.9m adj. EBITDA and £2.1m adjusted PBT.

[buywell3] 26/7/2018 14:11

Near to 2.5p a share then

What a lovely little well run company

I look forwards to a nice read in the morning