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business turnaround ?
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sunview
Veteran |
08-Apr-2016 21:17
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Walah, maiden post lei !! No surprise as this one is so illiquid. Plus this small cap (market cap < 20m) was in the red in FY2012 to FY2014. For FY2015, AEM reported earnings of $5.82m versus a loss of $39.94m in 2014. In 4Q15 the company reported a 54% rise in revenue to $47.6m and earnings of $4.56m. One cent dividend (payable in May 27, 2016) was declared. The turnaround caused share price to jump from 7% from $0.275 to $0.295 after the 4Q result was announced on Feb 23. This was a whopping 61.8% jump if compared with the close of $0.445 today, in a matter of just 6 weeks. Perhaps, the company buy-backs along the way also helped. Despite the strong rally, AEM is still trading at < 4 times its historic earnings per share of 12.99 cents, and at just 0.81 times its net asset value of 55.2 cents per share. Since 2011, the company has restructured and divested some of its loss-making businesses. In 2014, AEM&rsquo s substrate business , a joint venture with Silicon Precision Industries (better known as SPIL) was sold for $3m. Last year, AEM also sold a property in Malaysia for RM8m. In Feb 2016, AEM said it planned to sell its plating business in China for RMB6.63m. In the latest issue (723) of The EDGE Singapore, CEO Charles Cher indicated they are planning to expand its customer base, to scale up their modular handlers business, to expand capacity to cope with orders and to add headcounts. |
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