Tracsis Share Discussion Threads

[stewy_18] 01/1/2013 21:17

All,

Trcs is my choice for the Nicky Fraser share comp on the Motley Fool. You can find my write up here:-



Any comments welcome. Have a great new year.

Regards

Stuart

[honiton2] 30/12/2012 22:19

Changed my mind looks very expensive

[pj 1] 27/12/2012 16:57

This share has started to rise on small volume before, and has given its biggest rises when it ''appears'' to show as overbought imo

[jamielein] 27/12/2012 16:43

Hopefully yes but probably not - volume's pretty low.

I don't think anything meaningful will happen until after the new year.

[cockneyrebel] 27/12/2012 16:23

Chart turning up here?

CR

[honiton] 16/12/2012 08:07

Buy opportunity?

Q. a few shares looking cheap on fundamentals. DEB and HOME included.

[edsullyjoe] 14/12/2012 09:31

Another 9,000 shares issued today.

[apad] 13/12/2012 09:09

m...
BTW check out the GTC current thread for a Leeds University company's options policy. Don't hold.
Dilution is data worth watching.
apad

[apad] 13/12/2012 09:01

m..
It's just data, it doesn't have a moral dimension.
I record dilutions of my capital as a matter of course.
TRCS levels of dilution are high and regular, currently about 4%, so I notice them.
I also record my dividend yield; currently just over 1%.
I also record price to free cash flow ratio, currently about 11, as well as backward and forward PERs.
I have a large, for me, holding, that I increased yesterday, so I look very hard at the negatives.
Positives are just so very, very easy to come by.
apad

[cockneyrebel] 13/12/2012 07:36

Nice contract win :-)

About time these went on the up again imo :-)

CR

[marlint111] 13/12/2012 07:28

Apad- I understand it causes dilution, but do you really have an issue with this?

As I understand it the dilution is a consequence of remuneration for employees. Years ago they will have been given share options as part of their remuneration. Now that the share price has been doing well, they are choosing to exercise those options.

I generally believe a reasonable amount of share options with a sensible exercise price are a great way of motivating and retaining key employees (much better than just paying the more).

Of course these options cost the shareholder money through dilution, but then if the company were to just pay people more instead- it would also cost the shareholder money- so I fail to see what the distinction is?

Or have I got the wrong end of the stick?

[bigbigdave] 13/12/2012 07:08

Nice 'significant' contract win, should give the share price a boost today.
Sounds like TRCS have major overseas expansion plans.

[apad] 12/12/2012 17:50

From the formidable geswan:
2008 Issued £1.6m of new stock
2009 Issued £0.18m of new stock
2011 Issued £1.95m of new stock

Plus my hair-splitting 0.9million shares (and the year is not yet over).

m....
This is dilution, not remuneration.
It is your purse that has a hole in it.

apad

[marlint111] 12/12/2012 11:15

What are the source of these though? If employees have been granted options over the last few years, it is really no surprise that they are now exercising them (as share price has more than doubled!).

Director's remuneration has always seemed pretty reasonable here to me. I welcome it if employees are being rewarded for the company's success.

[pj 1] 12/12/2012 11:12

Quickly totted up 0.75m so splitting hairs??

[apad] 12/12/2012 10:48

PJ
About 0.9m new shares issued over the year so far, say 4% dilution. Anyone confirm?
They are overly fond of doing this sort of thing.
apad

[pj 1] 12/12/2012 10:41

Ref eps prediction

I am not an accountant but I cannot see any deferred tax liability which would affect eps greatly??

[marlint111] 12/12/2012 10:31

PJ. I'm still confused by the WH Ireland forecasts. The company indicated that without acquisitions they expected to maintain the current rate of organic growth (40 percent).

10.7p seems light to me. So it is a case of whether WHI are behind the curve (as lots of forecasts have been with TRCS), or whether they're privy to more information than we are.

I think the jobs indicator is useful PJ- if they were growing really rapidly, we'd expect to see more jobs being advertised.

[pj 1] 12/12/2012 10:09

I can only find WH Ireland with a 2013 eps of 10.7 (plus 7%)

During 2012 we had Contract Win announcements 11/1,18/4,3/5 and 7/6

After 7/6 comments..''John McArthur, Chief Executive Officer commented "This is another great contract win for the Group and I'm pleased that our proven optimisation technology will be delivered alongside a sizeable professional services element. Looking ahead I believe these sorts of larger agreements combining technology and consultancy services will become increasingly popular with our customer base.''

So looking for ''larger agreements''. No new Contracts for 6 months, something must be in the pipeline plus Europe possibility? I read this as Organic Growth and the Cash must be starting to burn some holes in pockets?

I cannot find many jobs being advertised like last year though which I think APAD you lie to see?

[pj 1] 12/12/2012 09:58

Half year 28/2/2013 approx.

[apad] 12/12/2012 09:21

Abandoned previous buy level and increased at 157.7.
Price to free cash flow ratio of 11 is the attraction that makes the historic PER of 16 more acceptable. Less of a tiddler than when I first bought, however!
I don't expect much in the way of an EPS increase - say 10 - in next results.
View the risk as low.
Been trying to find the next significant date, without any luck - ?
apad

[yf23_1] 10/12/2012 17:25

These look to be highly rated but take off the cash and they look quite good for a growth small cap with possible large markets and scaling up together with the gearing effect of extra sales.
I was going to wait to buy on a dip but this type of share graph exhibiting flag type formations rarely allows time to get in before the next spike up.
We could be in the 4th wave of 5 beginning Jul 2012.

They also give an EPS figure based on EBITDA which leaves them looking cheap.

[cockneyrebel] 07/12/2012 11:43

SCSW tomorrow.

CR