I Read The News Today Oh Boy! 21-Nov-2017

Tuesday, Nov 21 2017 by
21

Morning All!

Solid State ( Solid State (LON:SOLI) ) – 382.5p – £33.6m – PER 12.2

Interim Results For The 6 Months To End September 2017 – Revenue up 12% but PBT and EPS down 20%, £1.6m and 16.1p respectively. The open order book is £20.1m, up 38% on last year.

I quite like this and thought it was worth a closer look around the 400p level. For now though I am more tempted to wait and see an improvement in that Operating Margin.

CML Microsystems ( CML Microsystems (LON:CML) ) – 547.5p – £89.1m – PER 22.3

Interim Results For The 6 Months To End September 2017 – Revenues up 23% to £16.02m, PBT up 19% to £2.31m, Net cash of £12.72m and introducing a maiden interim dividend of 2.0p per ordinary share. Confident of meeting expectations for the full year.

Quite like the look of this – Any dip to the 400p level again and I will be more interested.

Focusrite ( Focusrite (LON:TUNE) ) – 302.5p – £179.5m – PER 20.7

Final Results For The Year To End August 2017 - Revenue up 13% (CC) to £66.1m (£54.3m last time), PBT up 33.5% to £9.5m (£7.1m last time), Adjusted EPS up 29.8% to 14.8p, Net Cash of £14.2m (£5.6m last time) and Dividends for the year are up 38% to 2.7p.

Although this update looks like just above expectations, there’s a lot to like here.

Stride Gaming ( Stride Gaming (LON:STR) ) – 256p – £184.5m – PER 12.5

Audited Results For The Year To End August 2017 – “A transformational Year driven by strong growth in Real Money Gaming” – I can’t work out from this report if this is a good update or not, it’s just so confusing.

This is in the “too hard for me” pile for now.

Severfield ( Severfield (LON:SFR) ) – 64.5p – £202.6m – PER 10.5

Interim Results For The Period To End September 2017 – Revenue up 16% to £137.1m, PBT up 59% to £12.8m, Interim dividend up 29%, Order book up 10%…

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Solid State PLC is engaged in manufacturing of electronic equipment and distribution of electronic components and materials. The Company is a manufacturer and specialist design-in distributor to the electronics industry. Its segments are Distribution division and Manufacturing division. The distribution division comprises Solid State Supplies Limited and Ginsbury Electronics Limited. The manufacturing division includes Steatite Limited and Q-Par Angus Limited. Its geographical segments include UK and Non UK. The Company is a supplier of computing technologies, electronic components, antennas, microwave systems, secure communications systems and battery power solutions. It markets its products through brands, including ndura RUGGED and RZ Pressure. It acts as both a distributor to original equipment manufacturers (OEMs) and manufacturer of specialist units to clients with complex requirements. It serves aerospace, environmental, government, oil and gas, and transportation markets. more »

LSE Price
502.5p
Change
2.3%
Mkt Cap (£m)
41.8
P/E (fwd)
14.2
Yield (fwd)
2.5

CML Microsystems Plc designs, manufactures and markets a range of semiconductor products for use in communications and data storage industries. The Company offers semiconductor products for professional applications within the storage, wireless and wireline communications market areas. It operates in the United Kingdom, the United States, Germany, Singapore and Taiwan. The Company offers semiconductor products for storage applications, such as Industrial flash memory cards (CompactFlash, secure digital (SD) card, multi-media card); solid state drives (SSDs), embedded storage and special function cards. It offers semiconductor products for wireless applications, such as professional and industrial analogue/digital radios (voice centric); wireless data products (radio modems, pagers, telemetry and marine safety). It offers semiconductor products for wireline telecom applications, such as security alarm panels, point-of-sale, health monitors, meter reading and telephone exchange. more »

LSE Price
312p
Change
2.3%
Mkt Cap (£m)
52.1
P/E (fwd)
n/a
Yield (fwd)
n/a

Focusrite Plc is a music and audio products company supplying hardware and software products used by professional and amateur musicians. The Company is engaged in the development, manufacture and marketing of professional audio and electronic music products. It operates through three segments: Focusrite, Novation and Distribution. The Focusrite segment includes the sales of Focusrite branded products. The Novation segment includes the sales of Novation branded products. The Distribution segment includes distribution of third-party brands, including KRK speakers, Ableton, Stanton, Cakewalk and sE Electronics. The Company sells its products in approximately 160 territories and countries around the world. The Company offers Scarlett, which is an audio interface; Blocs Wave application, which is used by musicians to create their own sounds and songs on any iPhone Operating System (iOS) smartphone or tablet, and e-commerce Websites. more »

LSE Price
537p
Change
 
Mkt Cap (£m)
312.1
P/E (fwd)
28.7
Yield (fwd)
0.7



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6 Posts on this Thread show/hide all

MrContrarian 21st Nov '17 1 of 6
3

My morning smallcap tweet:

XLMedia (LON:XLM), Marshall Motor Holdings (LON:MMH), Ilika (LON:IKA), GYG (LON:GYG), Defenx (LON:DFX), Jaywing (LON:JWNG), Severfield (LON:SFR), Empresaria (LON:EMR)

XLMedia (XLM) exp FY pretax beat.
Marshall Motor Holdings (MMH) closing 5 smaller dealerships with total rev £40m and pre-tax loss £1.3m (before central overhead charges). Closure costs are expected to be ~£6m inc £2m of non-cash items. Closure costs will be partly offset by the disposal of a surplus freehold property (Nissan Boston) and the realisation of working capital.
Ilika (IKA) H1 trading. Rev up 3x. Wow! To £1m with operating loss (excluding share based payment charge) of ~£1.4m (£1.9m). Oh. "The materials development programmes continue to provide a rich set of interactions with OEM partners." Rich as in not in money. Lots about its Stereax battery.
GYG (GYG) warns on FY due to deferral on some superyacht maintenance contracts. Exp rev at least €61m up 12%, EBITDA at least €7.08m, up 6%.
Defenx (DFX) CEO pushed aside to handle customer relationship. New CEO.
Jaywing (JWNG) warns FY profits will be substantially below market expectations .
Severfield (SFR) H1. FY expected to be comfortably ahead of previous expectations
Empresaria Group (EMR) warns on FY due to reduced margins in Germany following the legislation changes, the impact of which has started to be felt earlier than previously anticipated and the Middle East still weak. Also sells non-core training business for £1m book loss.

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tomps3 21st Nov '17 2 of 6
2

Entertainment One (LON:ETO) report H1 results, EBITDA up 36%.

Here Darren Throop CEO talks through an overview

http://www.piworld.co.uk/2017/11/21/entertainment-one-eto-h1-results-interview-november-2017/

c. 3 mins

H1 results overview – 00:19
Strong performance in Family and Television – 00:37
Reshaping the Film business – 01:34
A dynamic market place – 01:54
Summary & Outlook – 02:30

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doug2500 21st Nov '17 3 of 6
3

I like and hold Focusrite (LON:TUNE)

I tried to buy a few at opening at £3 but they were priced up 7% straight away and I'm not going above 300p.

It's a big jump for something that pretty much matched broker forecasts, although they are good results.

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andrea34l 21st Nov '17 4 of 6
3

Re RNWH, I don't think that this statement sounds so good...

Following a year in which Specialist Building revenue has been particularly high, we expect that it will reduce, perhaps by as much as £35m, in the 2017/18 financial year. We remain confident that we will continue to deliver stable operating profits in that business.

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herbie47 21st Nov '17 5 of 6

Severfield (LON:SFR) shares have drifted down considerably recently, I very early bought these a few months ago, glad I did not, butwith "FY expected to be comfortably ahead of previous expectations" then could well rise further, currently up 9%.

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alterego 21st Nov '17 6 of 6

re Focusrite (TUNE), the CEO said:

"These results were materially ahead of forecasts and represent a very pleasing outcome for the Group."

which is at odds with comments made above about results matching forecasts. Whatever, I'm glad to see such a positive set of results.

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