Solid State Share Discussion Threads

[spectoacc] 22/11/2016 10:06

Ta; difficult to assess due to MoJ contract payout & also the latest acquisition. Last year c.47p annual, thanks to MoJ payout which was substantial, and this latest Half Year shows a 10% increase over that (overall higher) Half Year from 2015. But how much of that is offset by getting no MoJ payout, and how much made up for by the acquisition, I don't know.

Put another way - they're 10% higher than the last Half Year, and the previous year did c.34p annualised without the MoJ payout, so if I had to stick my neck out I'd say c.40p EPS, in which case you're right. But the difference could easily be the acquisition alone.

Any which way, yes - slightly second-half weighted.

[pj 1] 22/11/2016 09:26

Stckopedia have 42p eps,

[foxman14] 22/11/2016 09:08

It was just a top up. Got two 500 chunks at 399.3p and 410p. Placed a further order at 400p but wasn't fulfilled.

[spectoacc] 22/11/2016 08:54

@PJ - what forecasts have you got?

[spectoacc] 22/11/2016 08:37

Completely unable to get any size here, you must have got in just ahead of me!

[pj 1] 22/11/2016 08:35

Are Results normally H2 weighted here? Looks like they have a lot to do to hit forecasts after a brief glance

[foxman14] 22/11/2016 08:30

Yes so am I. So added a few on the drop.

[spectoacc] 22/11/2016 08:15

Perfectly happy with this morning's RNS. Revenue & post-tax falls both easily explained; margin rise also explained & for similar reasons. Divi still more than 4x covered. Sounds like more acquisitions ahead, which would ordinarily make me nervous, but SOLI have a very good record there.

Is well worth a read, beyond the headlines.

[spectoacc] 04/11/2016 14:13

They really do toss it around - yet despite decent volume (eg 9k at 389, 5k at 399 earlier) they still often have a massive spread (400/435 atm).

[cambium] 03/11/2016 16:42

How many stops did that try and hit?

[pj 1] 21/10/2016 08:58

As a parent of special needs children (now adults!) some sort of tagging device would be a godsend.

No doubt I will now be imprisoned for abusing some human rights act.

[cockerhoop] 21/10/2016 08:28

By the excellent Richard Beddard in Money Week - 5 IHT avoiding stocks

5. Solid State (SOLI)

Market cap: £25m

Debt-adjusted p/e: 9

Electronics manufacturer and distributor Solid State has put its shareholders through the emotional wringer. Two years ago the company announced that it was part of a consortium that had been awarded (by its standards) a massive contract with the Ministry of Justice (MoJ) to develop electronic tags for convicted law-breakers. The dream began to turn into a nightmare late last year, as the contract was first delayed, and then terminated when the MoJ decided to use an off-the-peg solution instead.

However, while long-term shareholders would have experienced exuberance as the share price took off, and dismay as it later crashed, for any investors considering buying shares now, it’s as though the nightmare never happened. Solid State received a one-off payment to settle the contract, which it immediately spent on Creasefield, a manufacturer of battery packs. Although Creasefield made a small loss in the year to March 2016, Solid State expects it to return to profit this year, helped by co-operation in design, engineering and sales with its existing successful battery business.

The battery business is part of Steatite, the manufacturing arm of Solid State. The company also distributes electronic components through Solid State Supplies. Both businesses are in good shape due to decisions taken well over a decade ago.

While many manufacturers of electronic equipment chose to relocate their operations in China and other low-cost economies in the 2000s, Solid State chose to specialise instead, focusing on high-value rugged computers, batteries, radios and components especially designed for use in the field. Because of exacting specifications, and the regulations required to handle dangerous materials and sensitive information, it’s preferable and sometimes necessary to manufacture this equipment in the UK.

As far as tagging goes, Solid State retains the intellectual property it developed and it is working out what to do with it. But even if the company never makes a profit from tagging, business as usual is no bad thing.

[spectoacc] 20/10/2016 07:49

Not forgetting debt-free & growing.

[glasshalfull] 20/10/2016 07:06

Positive update this morning. The MoJ episode now fully behind them.

Been nice to have clearer definition of profitability this morning via the RNS - "consistent with market expectations" -however WH Ireland have obliged with an update that indicates FY PBT of £3.3m (EPS 36.5p) on revenue of £44.5m.

So on a PER of 12 & offering a 3% yield.

Strong hold for me.

Kind regards
GHF

[spectoacc] 20/10/2016 06:55

Nice t/s, including:
"The Board is pleased to announce that both acquisitions made in the 2015/2016 financial year are substantially integrated, performing well in their own markets and demonstrating synergy benefits with the other divisions in the Group. "

[cambium] 17/10/2016 11:39

News coming maybe, so they drop the price for no reason???

[spectoacc] 27/9/2016 14:48

Certainly choppy lately!

[pj 1] 26/9/2016 19:50

Quietly does it.........

[rhomboid] 26/9/2016 19:34

You're not alone, I'm a very happy holder

[spectoacc] 26/9/2016 19:23

Lol @tiswas, fair point. At least you've proved I'm not the only one on this thread.. :)

[tiswas] 26/9/2016 16:22

and posting twice a day!

[spectoacc] 26/9/2016 15:11

Not sure why it fell last week/has recovered it all again today, but suspect I need to stop looking at the price twice a day.

[spectoacc] 26/9/2016 15:11

Not sure why it fell last week/has recovered it all again today, but suspect I need to stop looking at the price twice a day.

[spectoacc] 22/9/2016 07:36

Read the MoneyWeek article last night, and they didn't analyse SOLI, just mentioned it as one of their 5 picks. Going up more because it's cheap IMO.