Friday, 12 August 2011

Revenue Targets Increased For IWG Technologies

IWG Technologies (TSX-V: IWG)
Basic Shares: 38.1 million
Fully Diluted: 45.6million

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Fundamental Research has bumped its F2011/12 revenue targets for IWG Technologies based on the recent acquisition of the Keltech line of aviation water heater products.

The research group raised its revenue and earnings forecasts for F2011/12 (primarily as a result of the acquisition). Fiscal yearend is September 30.

* F2011 - forecasts: revenue $4.54 million (up from $4.41 million) & net income of $0.29 million up from $0.19 million.

* F2012 - forecast: revenue $5.30 million (up from $4.80 million) & net income of $0.37 million up from $0.20 million.

Fundamental is holding to its fair market value on the stock of $0.30, five times the current trading price.

To read the update report, click here.