Financial Summary:
Full Year Results (for year ended June 30th 2010):
QMASTOR Delivers on Strategic Goals Despite Weaker Result
• Final result impacted by GFC on mining capital budgets
• Significant investments made in two new products
• Two new international offices opened
• Funds raised in SPP now employed to underpin continued expansion
• Major Strategic sale made to Hunter Valley Coal Chain Coordinator
• Strong outlook for FY2011
QMASTOR (ASX: QML) announced a Net Profit after Tax of $404.1K ($1.630M 2009) for the 2010 financial year. The revenues for the year were $7.336M ($9.029M 2009).
The continued focus of the Company on our strategic goals has offset the weak financial result for 2010. QMASTOR invested in both international markets and new product development during the year. QMASTOR opened new offices in Denver in the USA and in Belo Horizonte in Brazil and further resourced the South African office. The extra investment in both new products and international office expansion contributed to a reduction in margins in the year.
Despite the depressed 2010 result due to the impact of the GFC on the Mining industry, QMASTOR is seeing a significant increase in demand since the last quarter of the 2010 FY. This combined with the solid strategic investments in growth over the past twelve months provides a revenue target of $14M. QMASTOR’s potential sales pipeline is currently in excess of $25M and growing. We also expect a number of capital projects previously on hold to come back online in the 2011 FY particularly in iron ore in Western Australia.
QMASTOR is still targeting aggressive revenue growth to $30M by end FY2012. It is expected that this target will comprise $20M via organic growth and $10M by synergistic acquisition. It is expected that 50% of company revenues will be derived from international markets by the end of FY2012.
Full Year to: Jun 30, 2010
Annual Revenue: FY 2010 $7,335,906 | FY 2009 $9,028,631 | FY 2008 $5,065,265 | FY 2007 $2,682,881
Listed: ASX - Australian Securities Exchange
Code: QML
52 Week Range: $0.19 - $0.55
Shares outstanding: 55,814,087
Earnings per Share as at 30/06/10: 0.78 (Cents)
Auditors: PricewaterhouseCoopers
Banker: National Australia Bank
Solicitor: Thynne & Macartney
2010 Annual General Meeting
Place: The Menzies Hotel, 14 Carrington Street, Sydney
Date: Tuesday 23rd November 2010
Time: 4pm
Financial Summary:
Full Year Results (for year ended June 30th 2010):
QMASTOR Delivers on Strategic Goals Despite Weaker Result
• Final result impacted by GFC on mining capital budgets
• Significant investments made in two new products
• Two new international offices opened
• Funds raised in SPP now employed to underpin continued expansion
• Major Strategic sale made to Hunter Valley Coal Chain Coordinator
• Strong outlook for FY2011
QMASTOR (ASX: QML) announced a Net Profit after Tax of $404.1K ($1.630M 2009) for the 2010 financial year. The revenues for the year were $7.336M ($9.029M 2009).
The continued focus of the Company on our strategic goals has offset the weak financial result for 2010. QMASTOR invested in both international markets and new product development during the year. QMASTOR opened new offices in Denver in the USA and in Belo Horizonte in Brazil and further resourced the South African office. The extra investment in both new products and international office expansion contributed to a reduction in margins in the year.
Despite the depressed 2010 result due to the impact of the GFC on the Mining industry, QMASTOR is seeing a significant increase in demand since the last quarter of the 2010 FY. This combined with the solid strategic investments in growth over the past twelve months provides a revenue target of $14M. QMASTOR’s potential sales pipeline is currently in excess of $25M and growing. We also expect a number of capital projects previously on hold to come back online in the 2011 FY particularly in iron ore in Western Australia.
QMASTOR is still targeting aggressive revenue growth to $30M by end FY2012. It is expected that this target will comprise $20M via organic growth and $10M by synergistic acquisition. It is expected that 50% of company revenues will be derived from international markets by the end of FY2012.
Full Year to: Jun 30, 2010
Annual Revenue: FY 2010 $7,335,906 | FY 2009 $9,028,631 | FY 2008 $5,065,265 | FY 2007 $2,682,881
Listed: ASX - Australian Securities Exchange
Code: QML
52 Week Range: $0.19 - $0.55
Shares outstanding: 55,814,087
Earnings per Share as at 30/06/10: 0.78 (Cents)
Auditors: PricewaterhouseCoopers
Banker: National Australia Bank
Solicitor: Thynne & Macartney
2010 Annual General Meeting
Place: The Menzies Hotel, 14 Carrington Street, Sydney
Date: Tuesday 23rd November 2010
Time: 4pm