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XTE - XTEK LIMITED.


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From a fundamental perspective, last fin year they made NPAT of $1.7m of $14.5m sales, so a NPAT margin of 11.7%.

 

This fin year they reckon they have already identified sales of $20m of which $14m are committed. And in the AFR last friday they said this did not include routine business. So considering we are only 1/4 of the way into the fin year I'm thinking the full year sales could be around $25m?

 

If they could maintain the same margin they could have EPS of around 7.2c?

 

Just my guesstimates. I could be way off.

 

cheers

Mark

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XTEK Ltd Media Release

6 September 2005

 

Homeland Security stock XTEK IPO Closes Over-Subscribed

 

Melbourne, 6 September 2005: XTEK Limited, a leading supplier of Homeland Security products and services to Government agencies and Police forces, today announced its initial public offering had closed over-subscribed.

 

The company, which is scheduled to list on the Australian Stock Exchange (ASX) on 15 September 2005 (ASX:XTK), raised $14 million through the issue of 28,000,000 shares at 50 cents per share.

 

The MD & CEO of XTEK, Mr Nigel French, said the strong institutional and retail demand for the offer reflected XTEK's role in supplying products and services relating to the protection of national borders and citizens from the threat of terrorism and politically motivated violence.

 

"Homeland Security is now an integral part of Australia's defence policy and independent research indicates that demand for better security products and services will continue to grow", Mr French said.

 

Tristar Corporate were advisors to the offer, with Tricom Equities as sponsoring broker. Tristar Corporate MD, John Pereira, said that XTEK "represents the ASX's only pure play Homeland Security stock, a market sector which is now well populated on US and European exchanges".

 

Since its establishment in the late 1970s, XTEK has developed a comprehensive solutions package for the Homeland Security market, with a capability to integrate policies, procedures, training and equipment.

 

XTEK offers an extensive range of bomb search and render safe equipment, including bomb disposal robots, X-ray and mail screening devices, forensic equipment and general security products. Customers include the Australian Defence Force, Federal and State Police Forces, their Bomb Disposal Squads, Federal & State government departments, Ministerial offices, courts throughout Australia, airports, public venues and major national and international companies.

 

XTEK was a major supplier of security products and services to the Sydney Organising Committee of the Olympic Games in 2000.

 

The company has acquired a suite of Intellectual Property within the Homeland Security market with the object of developing innovative and unique products for the local and international markets.

 

XTEK's MD & CEO, Mr Nigel French, served in the British Army and was a founding member of the Australian Federal Police's counter terrorist capability. Chairman, Brigadier Jim Wallace AM (Rtd), commanded the Special Air Services Regiment and the Army's mechanised brigade (1 Bde), and served with the United Nations in the Middle East.

 

The funds raised through the IPO will be applied to the purchase and development of intellectual property, expansion of international distribution and working capital for core activities.

 

The terms for the offer of shares in XTEK Limited were made in the prospectus dated and lodged with ASIC on 1 August 2005.

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Anyone noticed XTE has recovered handsomely this week, after it has released its new equipment.

 

Also some brokers are keen on getting its stock at market and trade it in Germany.

 

I suspect the stocks are in high demand at this level. http://www.sharescene.com/html/emoticons/wink.gif

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Crowman,

Are you still following XTE ?

 

They recently won a contract to supply security training in preparation for the Commonwealth Games.All the worry about terrorism is going to mean more spending on Anti- terrorist technology and services and more contracts. One to keep an eye on IMHO.

 

regards Dee

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In reply to: dee27 on Monday 14/11/05 09:20pm

Yeah still keeping an eye on the SP every day. Looking pretty good as they have won a few contracts, and technically looks set to go above 70 cents.

 

Fundamentals quite sound.

 

I suspect some institutions are building a position recently.

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