Basic Shares: 37.6 million
Fully Diluted: 39.7 million
On November 29th, IWG announced record revenues and earnings for its fiscal 2012 (FYE September 30) which subsequently sparked some market interest taking the company's share price to a 52 week high of $0.13.
Fundamental Research Corp's Siddharth Rajeev has been covering IWG for some time now and has recently updated his report dated December 12th rating IWG as a Buy with a Fair Value of $0.40 per share.
Mr. Rajeev has expects 2013 to be another banner year and estimates Earnings Per Share (EPS) to increase to $0.03 from this year’s $0.01.
Highlights of the report include:
• Revenues in FY2012 increased by 36% over FY2011. This is the largest revenue increase in the history of the company.
• The company continues to maintain strong margins with the new product mix.
• The company reported a profit of $0.53 million (EPS: $0.01) for the year.
• IWG’s balance sheet ratios continue to be significantly stronger than the industry averages.
• Improving outlook on the Business and VIP jet aircraft industry.
• Well capitalized to develop and market new products.
• IWG’s shares are up 43% YOY versus negative 21% for the TSX Venture.
• We have raised our EPS forecasts for FY2013 and FY2014. Our fair value increased from $0.35 to$0.40 per share.
The full Fundamental Research Report can be read by clicking here...