Thursday, 25 July 2013

IWG Technologies Notches Large Earnings Gain

IWG Technologies (TSX-V: IWG)
Basic Shares: 37.7 million

Fully Diluted: 39.7 million
IWG saw its numbers for the first nine months of the current fiscal year jump a healthy 12%, or $532 thousand, for the period to the end of June versus Fiscal 2012. Revenues grew to $4.88 million from $4.35 million.

Q3 sales increased to $1.70 million from $1.62 million in F/12.
Of special note was the fact that earnings for the nine months of F/13 climbed 167% to $555 thousand from $208 thousand during the same period last fiscal year and $181 thousand for Q3 versus a loss of $11 thousand in Q3/F12.
Earnings per share for the first three quarters of this fiscal year were 1.5 cents compared to six-tenths of a cent last fiscal year. As such, the stock is trading at about ten times nine-month EPS. 

What should be noted is that EBITDA/share more than doubled to 2.5 cents from 1.2 cents on the respective nine-month periods, meaning the stock is trading at a multiple of only six times as of this writing.

The company has been gaining ongoing traction with its high-quality, lightweight water treatment systems for aircraft.