Simigon Share Discussion Threads

[yump] 16/2/2017 10:54

Obviously not aware enough of the lowly rated share to actually say what they mean in their statements though.

If you believe this, then you've got your head in the sand:

"... the Company's great revenue and profit visibility for 2017 and beyond"

They've also mentioned problems with 'signatories' for the Israli contract, but it was won in June.

"Once the expected contract has been signed it is due to be delivered within 18 months and its expected revenue contribution has already been factored into management's expectations for the year ended 31 December 2016."

(In fact, isn't that questionable in itself. A deliverable over 18 months, but fully booked into 2016. Unless they meant part of the revenue).

Now:

"The Company has also been disappointed that procedural delays in concluding the signatory processes underlying its contract with the Israeli Air Force (as announced on 20 June 2016) have not enabled it to recognise any related revenues in the Period."

So they haven't even got the signatures for the contract where they stuck the revenues into 2016 expectations.

So are they incompetent or what ? - the what being way worse.

Nah. Either way they're not investable any more imo.

I feel sorry for the people the broker pushed shares out to. Clearly they weren't in touch.

Only got myself to blame. Looking at ambiguous stuff through cloudy glasses.

[loobrush] 16/2/2017 10:37

Its only a delay in income not a disaster and price drop too extreme.
Share buyback will help price recovery and could indeed send shares to a quite a bit higher price. Directors obviously aware share is lowly rated and at last are doing something about it with the huge pile of cash they have.

[orinocor] 16/2/2017 09:07

Nothing to do with us. It's everyone else's fault! Note to CEO's everywhere - just admit you screwed up and you'll at least still have your self respect and maybe shareholders will still trust you.

[orinocor] 16/2/2017 09:05

This guy sounds dodgy as hell.

SimiGon President & CEO, Ami Vizer, said: "It is disappointing that our financial performance for this year has been affected by circumstances that are outside of our control but we are confident that all of the outstanding issues will be resolved in the coming year. This will contribute to the Company's great revenue and profit visibility for 2017 and beyond."

[yump] 16/2/2017 08:48

DGWinterbottom

I don't think there's much point. They've already demonstrated that they are not going to inform shareholders in an open and straightfoward way.

[dgwinterbottom] 16/2/2017 08:28

An interesting set of questions if anyone would like to email the CEO Efi Manea [e-mail]

[pj 1] 16/2/2017 08:07

Its not irrelevant. It could have been down 40% if they had debt.

[yump] 16/2/2017 07:55

I wish I'd sold my shares when that vague statement came out. Combined with holding excessive cash for no stated reason.

What's that Rivaldo ? "Look how much cash they have per share"

Its ALWAYS irrelevant.

[ohisay] 16/2/2017 07:47

12.5p per share in cash.
Otherwise why do they seem to have such a problem with plain english - why can't they just tell us what the "certain costs" are in that 2013 contract.??

[divinausa1] 16/2/2017 07:31

they should start the buy back today becuase the share price will be slashed!

[dgwinterbottom] 13/2/2017 08:42

Having looked at recent trades there has not been much share price buy/sell activity over the last month and by far the majority of that has been selling, hope there is at least positive news soon!

[rivaldo] 20/1/2017 07:23

For the record, the current forecasts are (at the current $1.236 to the £):

2016 - 2.7c, so 2.18p EPS
2017 - 3.0c, so 2.43p EPS

Finncap also forecast $6.7m cash at 31/12/16, against the £11.7m m/cap.

[dgwinterbottom] 18/1/2017 15:51

Yump & Daz - many thanks!!

[daz] 18/1/2017 13:31

In my view the most important part about the 2016 results will be the confirmation that work on the big contract has completed.
I bought in recently more for the potential that future contracts would have and which are not reflected in forecasts at the moment.

[yump] 18/1/2017 09:23

With exchange rate change 2016 more like 2.2p and 2.4 next, so its just sitting on a modest p/e of 10 at the moment, which seems reasonable enough on a 10%+ growth rate.

Ignoring the cash (which imo there is no chance of seeing distributed much, based on the history of loads of companies hoarding a wad), it needs one decent announcement to jump the price up in line with whatever growth rate is forecast.

They say they are in the larger contract area now, so that would be the hope - that creates a new lease of life in growth.

[dgwinterbottom] 18/1/2017 08:58

I notice the eps 2015 for was 2.62p whereas the forecast for the year just finished 2016, drops to 2.04 before an expected increase to Dec 2017 of 2.27!

Would anyone like to suggest the effect of results for 2016 on the forward sp?

[rivaldo] 10/1/2017 23:07

I note that - finally - a buy of 212,511 shares at 22p from yesterday has now been listed.

It took them long enough to report it!

[daz] 10/1/2017 19:11

Yes, it could be the case here but I would have expected trades around the 22p level, at which I bought, not higher, as with the trades today.

[yump] 10/1/2017 18:12

Isn't the idea that the broker buys a shed load at x pence and then having primed clients, sells them on a x+ pence. So individual client trades won't be traceable.

[daz] 10/1/2017 16:25

All my shares were bought yesterday at 22p but weirdly the trade hasn't been reported.

[rivaldo] 10/1/2017 14:36

97,000 shares just reported bought at 23.13p - I assume yours Daz?

EDIT - and a further 98,015 shares at 25.5p :o))

[yump] 10/1/2017 13:55

Aha, the old difficult to get hold of spiel...

Seems to be working though.

[daz] 10/1/2017 11:55

The feedback I'm getting from the broker is that shares were hard to get hold of and they only managed to get around 250,000