Deutsche Small Caps - Basisinvestments eines Langfristdepots (Seite 6934)
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Update:
Verkauf:
Impreglon: Nach 9-Monatszahlen und vorhergehenden Anstieg ist die Luft zunächst nach oben begrenzt.
ID-Media: kurzfristiger Anstieg um mehr als 10 % wird realisiert
Kauf:
GCI-Management: Wird Kursrückgang durch anstehende 9-Monatszahlen wird ausgeglichen? Es sollten noch einige Meldungen - ausserhalb von Pfaff - dieses Jahr anstehen.
Gruß
Verkauf:
Impreglon: Nach 9-Monatszahlen und vorhergehenden Anstieg ist die Luft zunächst nach oben begrenzt.
ID-Media: kurzfristiger Anstieg um mehr als 10 % wird realisiert
Kauf:
GCI-Management: Wird Kursrückgang durch anstehende 9-Monatszahlen wird ausgeglichen? Es sollten noch einige Meldungen - ausserhalb von Pfaff - dieses Jahr anstehen.
Gruß
Silicon Sensor: Erhöhung des Kurszieles von 15 Euro auf 20 Euro
Silicon Sensor: KZ 20 Euro
Risikoklasse: 1
Chance/Risiko: 80/40
KGV 06: 15
1. Unternehmensgegenstand der Silicon Sensor AG
Die Entwicklung kundenindividueller Sensoranwendungen und die Produktion kundenspezifischer High-End-Sensoren ist das Kerngeschäft der Silicon Sensor AG. Anwendungsbereiche sind die Telekommunikation, Automobil-, Medizin-, Umwelttechnik, Werkzeugmaschinen oder Industrieroboter: Sie machen Silicon Sensor weitgehend unabhängig von Konjunkturzyklen. Durch die Übernahme der MPD, Dresden in 2005 gelang Silicon Sensor der Einstieg in die Produktion mit Großserien.
2. Fundamentale Einschätzung der Silicon Sensor
Silicon Sensor erweist sich in 2006 als Outperformer und konnte auch die Konsolidierung im Frühjahr unbeschadet überstehen. Anschließend folgte der Kurs der durchweg positiven fundamentalen Entwicklung und befindet sich seit 3 Monaten im Aufwärtstrend mit einem Kursanstieg von über 40 %. Grund hierfür ist, dass die das Jahr 2006 oberhalb der Erwartungen ausfiel. Dabei konnten durch erheblich verbesserte Ergebnisse von Q1 bis Q3 gegenüber dem 4. Quartal 2005 erstmalig nach der Übernahme ein überzeugendes, überproportional verbessertes Nettoergebnis mit der voll konsolidierten MPD erzielt werden, weil der Effekt der Verwässerung aus der Kapitalerhöhung überkompensiert wurde.
Wichtig hierbei ist, dass dieses Ergebnis als operatives Ergebnis zu verstehen ist, ohne das hier die durch die Umgliederung der Lewicki ausgewiesenen hohen sonst. Erträge und Aufwendungen hierzu beigetragen haben.
Planmässig sind als EBIT-Ziel 12 % ausgegeben worden. Bei einem EPS von 61 Cent in den ersten 9 Monaten sind dies 25 Cent mehr als im Vorjahr. Dies entspricht einem Wachstum beim EBIT von über 200 % auf 3,7 Mill. Euro. Das EBIT liegt damit bei 15 %. Bei einem stark verbesserten Auftragsbestand auf 22 Mio. Euro zum 30.09.2006 bedeutet dies eine Steigerung um 120 % gegenüber Dez.05, d.h. die Erhöhung des Auftragsbestandes ist rein organisch bedingt und signalisiert eine weiter positive Umsatz- und Ergebnisentwicklung für die kommenden Quartale. Für 2006 ist ein EPS von 87 Cent bei einem Umsatz von 34 Mio. Euro realistisch, was einer EBIT-Marge von 15 % enspricht. Der weitere Ordereingang wird gestützt von den Großaufträgen über den Abstands-tempomaten und die Produkton von MEMS-Mikrophonen, die erst ab 2007 erlöswirksam werden. Der erhöhte Auftragsbestand geht dabei zum weit überwiegenden Teil auf die alte Silicon Sensor zurück. Dies bedeutet, dass die EBIT-Marge von 15 %-17 % für die Folgequartale eine realistische Zielgröße ist. Bei einer erhöhten Umsatzdynamik bei der MPD in der 2. Jahreshälfte, besitzt die gegenwärtige Umsatzrendite unterhalb von 10 % bei der MPD weiteres Potential. Im Unternehmensvergleich mit der Paragon AG, Linos AG und Inticom ist die Silicon Sensor mit einem 2007 KGV von 12 günstig bewertet.
Bei einer in 2006 wieder eingesetzten Belebung der Geschäfts kann auch in den Folgejahren mit einer deutlichen Umsatzausweitung gerechnet werden mit gegenüber den 1. Halbjahr weiter steigenden Renditen in Richtung 20 %. Dokumentiert wird dieses Wachstum durch einen Werksneubau der Silicon Sensor in Berlin/Brandenburg bis Ende 2007 und einer Verdoppelung der Kapazitäten der MPD am Standort Dresden bis zum Frühjahr 2007. Der Bauantrag hierzu wurde bereits gestellt. Auf dieser Grundlage kann in 2007 ein Ergebnis von 1,13 Euro (Umsatz 41 Mio.) und in 2008 von 1,48 Euro (Umsatz von 49 Mio. Euro) erreicht werden.
Die in den Schätzungen einbezogenen Wachstumsfaktoren bei Silicon Sensor für die kommenden Jahre:
a) Wachstum von SIS in den USA - Verstärkung des Vertriebs. Zuletzt wurde hier die Verpflichtung des neuen Vertriebschefs USA gemeldet. Bisher war dieser tätig beim starken Mitwettbewerber in den USA, Advanced Photonix, Inc.
b) Nach dem erfolgreichen Abschluss kundenindividueller Anwendungen, beginnt ab 2007 die Serienproduktion der Sensoren und damit der Eintritt in den Markt für Großserienfertigung.
c) MPD hat zwar einen Kunden in 2005 verloren, dies führte aber im Ergebnis nur zu einem Stillstand im Wachstum. Der alte Wachstumspfad wird bereits in 2006 wieder aufgenommen. In den Jahren vor 2004 ist man so schnell gewachsen, daß der Umsatz auf 15 Mio. Euro vervielfacht wurde - Vision bei der MPD sind 50 Mio. Umsatz (ohne SIS!) wie früheren Berichten zu entnehmen war. Bis im Frühjahr 2007 wird die Produktionskapazität bei der MPD am Standort Dresden verdoppelt, um auf das weitere Wachstum in den kommenden Jahren vorbereitet zu sein. Das Investitionsvolumen bei der MPD beläuft sich auf über 5 Mio. Euro.
d) Grosserienauftrag in der Automobilindustrie läuft in 2008 allein bei SIS mit Umsatzbeitrag von 5 Mio. Euro an - zuzüglich Fertigungsanteil MPD. Als erster Kunde wird ab November 2006 Chrysler bedient.
e) Start Produktion MEMS-Mikrophone Anfang 2007 in Dresden è Auftrag von Infinion mit Umsatzbeitrag von 6 Mio. Euro in 2008. Durch den im Juli vermeldeten Großauftrag wächst der Auftragsbestand auf 22 Mill. Euro und liegt damit um 120 % über dem vom Dezember 2005. Die Verbindung von Infinion zu Siemens und BenQ sollte einen nur geringen Einfluss auf den vermeldeten Auftrag haben, da andere Mobilfunkkunden wie Nokia, LG Electronics und Samsung zu den größeren und bedeutenderen Kunden zählen und der Auftrag ebenfalls Anwendungen im Bereich der Unterhaltungselektronik und PC’s adressiert.
Weitere Produktentwicklungen, die nicht in die Schätzungen eingeflossen sind, da der Abschluss der Entwicklungen und die Auftragserteilung aussteht:
f) Entwicklungsarbeiten im Bereich der Sicherheitstechnik wurden abgeschlossen. Serienauftrag für die Sicherheitsindustrie möglich: Stichwort „Schmutzige Bombe“
g) Entwicklungen im Bereich der Automobilindustrie für Rückwärtskameras und Nachsichtkameras mit Aussicht auf Auftragserteilung in 2007.
h) Ausbau der Lieferungen für den elektronischen Zollstock
i) Expansion nach Asien könnte weiteren Wachstumsschub auslösen
3. Ergebniseinschätzung Silicon Sensor
2006 2007 2008
Umsatz in Mio. Euro
SIS 17,5 20,5 23
MPD 16,5 20,5 26
Total 34 41 49
Bruttoergebnis in Mio. Euro
SIS 12,6 14,4 15,9
MPD 8,5 10,0 12,4
Total 21,1 24,4 28,2
Bruttoergebnis in %
SIS 72,0% 70,0% 69,0%
MPD 51,5% 49,0% 47,5%
Total 62,1% 59,5% 57,6%
Overheads in Mio Euro
Total 15,9 17,5 19,2
in % 47% 43% 39%
EBIT in Mio Euro
Total 5,2 6,9 9,0
in % 15% 17% 18%
Zinsen & Steuern in Mio. Euro
Zinsen 0,3 0,6 0,8
Steuern 1,8 2,4 3,1
Überschuss 3,0 3,9 5,1
Minderheiten 0,2 0,3 0,4
EPS 0,87 1,13 1,48
Aktien in Mill. 3,45 3,45 3,45
4. Marktumfeld und Kursverlauf
Der Kurs der Silicon Sensor entwickelt sich bereits über dem Marktdurchschnitt und legte von 9,5 Euro auf 14 Euro zu. Dabei wurden alle längerfristigen
Durchschnittslinien (38, 100, und 200 Tage) überschritten.
5. Schlussfolgerung
Die fundamentalen Daten sprechen für Silicon Sensor. Der geduldige Investor sollte sowohl kurzfristig als auch langfristig mit weiter steigenden Kursen belohnt werden.
Bei Steigerungsraten im Ergebnis von 30 % in den nächsten Jahren sind 15 Euro ein kurzfristiges Kurzziel, welches auf Sicht von 12 onaten bei 20 Euro und höher anzusiedeln ist.
Gruß
Silicon Sensor: KZ 20 Euro
Risikoklasse: 1
Chance/Risiko: 80/40
KGV 06: 15
1. Unternehmensgegenstand der Silicon Sensor AG
Die Entwicklung kundenindividueller Sensoranwendungen und die Produktion kundenspezifischer High-End-Sensoren ist das Kerngeschäft der Silicon Sensor AG. Anwendungsbereiche sind die Telekommunikation, Automobil-, Medizin-, Umwelttechnik, Werkzeugmaschinen oder Industrieroboter: Sie machen Silicon Sensor weitgehend unabhängig von Konjunkturzyklen. Durch die Übernahme der MPD, Dresden in 2005 gelang Silicon Sensor der Einstieg in die Produktion mit Großserien.
2. Fundamentale Einschätzung der Silicon Sensor
Silicon Sensor erweist sich in 2006 als Outperformer und konnte auch die Konsolidierung im Frühjahr unbeschadet überstehen. Anschließend folgte der Kurs der durchweg positiven fundamentalen Entwicklung und befindet sich seit 3 Monaten im Aufwärtstrend mit einem Kursanstieg von über 40 %. Grund hierfür ist, dass die das Jahr 2006 oberhalb der Erwartungen ausfiel. Dabei konnten durch erheblich verbesserte Ergebnisse von Q1 bis Q3 gegenüber dem 4. Quartal 2005 erstmalig nach der Übernahme ein überzeugendes, überproportional verbessertes Nettoergebnis mit der voll konsolidierten MPD erzielt werden, weil der Effekt der Verwässerung aus der Kapitalerhöhung überkompensiert wurde.
Wichtig hierbei ist, dass dieses Ergebnis als operatives Ergebnis zu verstehen ist, ohne das hier die durch die Umgliederung der Lewicki ausgewiesenen hohen sonst. Erträge und Aufwendungen hierzu beigetragen haben.
Planmässig sind als EBIT-Ziel 12 % ausgegeben worden. Bei einem EPS von 61 Cent in den ersten 9 Monaten sind dies 25 Cent mehr als im Vorjahr. Dies entspricht einem Wachstum beim EBIT von über 200 % auf 3,7 Mill. Euro. Das EBIT liegt damit bei 15 %. Bei einem stark verbesserten Auftragsbestand auf 22 Mio. Euro zum 30.09.2006 bedeutet dies eine Steigerung um 120 % gegenüber Dez.05, d.h. die Erhöhung des Auftragsbestandes ist rein organisch bedingt und signalisiert eine weiter positive Umsatz- und Ergebnisentwicklung für die kommenden Quartale. Für 2006 ist ein EPS von 87 Cent bei einem Umsatz von 34 Mio. Euro realistisch, was einer EBIT-Marge von 15 % enspricht. Der weitere Ordereingang wird gestützt von den Großaufträgen über den Abstands-tempomaten und die Produkton von MEMS-Mikrophonen, die erst ab 2007 erlöswirksam werden. Der erhöhte Auftragsbestand geht dabei zum weit überwiegenden Teil auf die alte Silicon Sensor zurück. Dies bedeutet, dass die EBIT-Marge von 15 %-17 % für die Folgequartale eine realistische Zielgröße ist. Bei einer erhöhten Umsatzdynamik bei der MPD in der 2. Jahreshälfte, besitzt die gegenwärtige Umsatzrendite unterhalb von 10 % bei der MPD weiteres Potential. Im Unternehmensvergleich mit der Paragon AG, Linos AG und Inticom ist die Silicon Sensor mit einem 2007 KGV von 12 günstig bewertet.
Bei einer in 2006 wieder eingesetzten Belebung der Geschäfts kann auch in den Folgejahren mit einer deutlichen Umsatzausweitung gerechnet werden mit gegenüber den 1. Halbjahr weiter steigenden Renditen in Richtung 20 %. Dokumentiert wird dieses Wachstum durch einen Werksneubau der Silicon Sensor in Berlin/Brandenburg bis Ende 2007 und einer Verdoppelung der Kapazitäten der MPD am Standort Dresden bis zum Frühjahr 2007. Der Bauantrag hierzu wurde bereits gestellt. Auf dieser Grundlage kann in 2007 ein Ergebnis von 1,13 Euro (Umsatz 41 Mio.) und in 2008 von 1,48 Euro (Umsatz von 49 Mio. Euro) erreicht werden.
Die in den Schätzungen einbezogenen Wachstumsfaktoren bei Silicon Sensor für die kommenden Jahre:
a) Wachstum von SIS in den USA - Verstärkung des Vertriebs. Zuletzt wurde hier die Verpflichtung des neuen Vertriebschefs USA gemeldet. Bisher war dieser tätig beim starken Mitwettbewerber in den USA, Advanced Photonix, Inc.
b) Nach dem erfolgreichen Abschluss kundenindividueller Anwendungen, beginnt ab 2007 die Serienproduktion der Sensoren und damit der Eintritt in den Markt für Großserienfertigung.
c) MPD hat zwar einen Kunden in 2005 verloren, dies führte aber im Ergebnis nur zu einem Stillstand im Wachstum. Der alte Wachstumspfad wird bereits in 2006 wieder aufgenommen. In den Jahren vor 2004 ist man so schnell gewachsen, daß der Umsatz auf 15 Mio. Euro vervielfacht wurde - Vision bei der MPD sind 50 Mio. Umsatz (ohne SIS!) wie früheren Berichten zu entnehmen war. Bis im Frühjahr 2007 wird die Produktionskapazität bei der MPD am Standort Dresden verdoppelt, um auf das weitere Wachstum in den kommenden Jahren vorbereitet zu sein. Das Investitionsvolumen bei der MPD beläuft sich auf über 5 Mio. Euro.
d) Grosserienauftrag in der Automobilindustrie läuft in 2008 allein bei SIS mit Umsatzbeitrag von 5 Mio. Euro an - zuzüglich Fertigungsanteil MPD. Als erster Kunde wird ab November 2006 Chrysler bedient.
e) Start Produktion MEMS-Mikrophone Anfang 2007 in Dresden è Auftrag von Infinion mit Umsatzbeitrag von 6 Mio. Euro in 2008. Durch den im Juli vermeldeten Großauftrag wächst der Auftragsbestand auf 22 Mill. Euro und liegt damit um 120 % über dem vom Dezember 2005. Die Verbindung von Infinion zu Siemens und BenQ sollte einen nur geringen Einfluss auf den vermeldeten Auftrag haben, da andere Mobilfunkkunden wie Nokia, LG Electronics und Samsung zu den größeren und bedeutenderen Kunden zählen und der Auftrag ebenfalls Anwendungen im Bereich der Unterhaltungselektronik und PC’s adressiert.
Weitere Produktentwicklungen, die nicht in die Schätzungen eingeflossen sind, da der Abschluss der Entwicklungen und die Auftragserteilung aussteht:
f) Entwicklungsarbeiten im Bereich der Sicherheitstechnik wurden abgeschlossen. Serienauftrag für die Sicherheitsindustrie möglich: Stichwort „Schmutzige Bombe“
g) Entwicklungen im Bereich der Automobilindustrie für Rückwärtskameras und Nachsichtkameras mit Aussicht auf Auftragserteilung in 2007.
h) Ausbau der Lieferungen für den elektronischen Zollstock
i) Expansion nach Asien könnte weiteren Wachstumsschub auslösen
3. Ergebniseinschätzung Silicon Sensor
2006 2007 2008
Umsatz in Mio. Euro
SIS 17,5 20,5 23
MPD 16,5 20,5 26
Total 34 41 49
Bruttoergebnis in Mio. Euro
SIS 12,6 14,4 15,9
MPD 8,5 10,0 12,4
Total 21,1 24,4 28,2
Bruttoergebnis in %
SIS 72,0% 70,0% 69,0%
MPD 51,5% 49,0% 47,5%
Total 62,1% 59,5% 57,6%
Overheads in Mio Euro
Total 15,9 17,5 19,2
in % 47% 43% 39%
EBIT in Mio Euro
Total 5,2 6,9 9,0
in % 15% 17% 18%
Zinsen & Steuern in Mio. Euro
Zinsen 0,3 0,6 0,8
Steuern 1,8 2,4 3,1
Überschuss 3,0 3,9 5,1
Minderheiten 0,2 0,3 0,4
EPS 0,87 1,13 1,48
Aktien in Mill. 3,45 3,45 3,45
4. Marktumfeld und Kursverlauf
Der Kurs der Silicon Sensor entwickelt sich bereits über dem Marktdurchschnitt und legte von 9,5 Euro auf 14 Euro zu. Dabei wurden alle längerfristigen
Durchschnittslinien (38, 100, und 200 Tage) überschritten.
5. Schlussfolgerung
Die fundamentalen Daten sprechen für Silicon Sensor. Der geduldige Investor sollte sowohl kurzfristig als auch langfristig mit weiter steigenden Kursen belohnt werden.
Bei Steigerungsraten im Ergebnis von 30 % in den nächsten Jahren sind 15 Euro ein kurzfristiges Kurzziel, welches auf Sicht von 12 onaten bei 20 Euro und höher anzusiedeln ist.
Gruß
Einschätzung zu Petrohunter:
Petrohunter: KZ 4 Euro
Risikoklasse 3
Chance/Risiko: 100/90
KGV 06: -
Petrohunter ist als spekulative Depotbeimischung im Gassektor zu verstehen. Wenn man jedoch die noch junge Unternehmenshistorie in Meilensteine einordnet, wird deutlich, dass dies nicht mehr lange zu bleiben muss.
Bisher erreichte Meilensteine im 2006
· Einbringung des Geschäftes in den Börsenmantel der Digital Ecosystems
· Namensänderung von Digital Ecosystem in Petrohunter
· Finanzierung des des Bohr- und Exporationsprogramms durch namhafte Investoren und Banken
· Status vom Exporer zum Produktionsunternehmen ist seit Okt. 06 erreicht
Weitere kurzfristig anstehende Meilensteine
· Neueinschätzung der Gas- und Ölvorkommen in Australien durch Auswertung des seit Juli 06 laufenden Datenerhebungsprogramms
· Steigerung der Gas- und Ölproduktion im 1. Halbjahr 07 auf über 50 Mill. Dollar
Fazit und zur Erinnerung: M. Bruner:
„Petrohunter hat das Potential, wenn wir in Australien erfolgreich sind, doppelt so groß zu werden wie Ultra.“
Ultra wiegt etwa 10 Mrd. Dollar an der Börse. Sollte es bis Jahresende eine Neueinschätzung der Reservevorkommen in Australien in die erhoffte Richtung geben (so könnte sich der Handelswert allein für die Ölvorkommen von 3 Mrd. Dollar auf über 15 Mrd. Dollar erhöhen, verbunden mit einer weiteren Steigerung der Produktionsmengen im 1. Halbjahr 2007 auf über 50 Mill Dollar, wird Petrohunter o.g. Kursziel von 4 Euro kurzfristig erreichen.
Gruß
Petrohunter: KZ 4 Euro
Risikoklasse 3
Chance/Risiko: 100/90
KGV 06: -
Petrohunter ist als spekulative Depotbeimischung im Gassektor zu verstehen. Wenn man jedoch die noch junge Unternehmenshistorie in Meilensteine einordnet, wird deutlich, dass dies nicht mehr lange zu bleiben muss.
Bisher erreichte Meilensteine im 2006
· Einbringung des Geschäftes in den Börsenmantel der Digital Ecosystems
· Namensänderung von Digital Ecosystem in Petrohunter
· Finanzierung des des Bohr- und Exporationsprogramms durch namhafte Investoren und Banken
· Status vom Exporer zum Produktionsunternehmen ist seit Okt. 06 erreicht
Weitere kurzfristig anstehende Meilensteine
· Neueinschätzung der Gas- und Ölvorkommen in Australien durch Auswertung des seit Juli 06 laufenden Datenerhebungsprogramms
· Steigerung der Gas- und Ölproduktion im 1. Halbjahr 07 auf über 50 Mill. Dollar
Fazit und zur Erinnerung: M. Bruner:
„Petrohunter hat das Potential, wenn wir in Australien erfolgreich sind, doppelt so groß zu werden wie Ultra.“
Ultra wiegt etwa 10 Mrd. Dollar an der Börse. Sollte es bis Jahresende eine Neueinschätzung der Reservevorkommen in Australien in die erhoffte Richtung geben (so könnte sich der Handelswert allein für die Ölvorkommen von 3 Mrd. Dollar auf über 15 Mrd. Dollar erhöhen, verbunden mit einer weiteren Steigerung der Produktionsmengen im 1. Halbjahr 2007 auf über 50 Mill Dollar, wird Petrohunter o.g. Kursziel von 4 Euro kurzfristig erreichen.
Gruß
Antwort auf Beitrag Nr.: 25.105.439 von Kleiner Chef am 03.11.06 15:50:03Intercell:
Einen Teil der Bewertungsdifferenz haben wir gestern aufgeholt: aktuell 1:6 - damit beträgt die Kapitalisierung knapp 3,5 Mill. Dollar - immer noch ein kurzfristiger Verdreifacher?
Gruß
Einen Teil der Bewertungsdifferenz haben wir gestern aufgeholt: aktuell 1:6 - damit beträgt die Kapitalisierung knapp 3,5 Mill. Dollar - immer noch ein kurzfristiger Verdreifacher?
Gruß
Habe mich mal wieder für eine spekulative Variante entschieden:
Kauf: Intercell Intern. Corp WKN 676706
Die Mutter New Market Tech. ist bei einem Umsatz von 60 Mill. Dollar mit knapp 60 Mill. Euro bewertet. Durch Einbringung des China-Geschäftes in die Intercell Int. Inc. wird diese Company zu einer Tochter von New Market Tech. Bei einer Bewertung von aktuell 2,5 Mill. Dollar wird das China Geschäft mit 20 Mill. Dollar eingebracht. Aktuell besteht also eine Bewertungsdifferenz New Market Tech. zu Intercell von 8:1. Hier sollte zumindest ein Teil der Differenz abgebaut werden können.
New-Market Tech. selbst ist das am stärksten wachsende Unternehmen in USA.
Hier ein paar Infos:
Intercell International, Inc. Stock Symbol Change to IICP Reported by OTCBB Resulting From Recent Transaction with NewMarket Technology, Inc.
Thursday November 2, 10:04 am ET
NewMarket Purchases Controlling Interest in Intercell and Reorganizes NewMarket Chinese Subsidiary with $20 Million in Anticipated 2006 Revenue into Intercell
DALLAS--(BUSINESS WIRE)--Intercell International Corporation (OTCBB:IICP - News) today announced a stock symbol change. The OTCBB reported yesterday that the symbol had changed from IICPQ to IICP. The "Q" previously included on the end of the symbol was an indication that the Company was operating in bankruptcy. As part of the recently announced transaction with NewMarket Technology, Inc. (OTCBB:NMKT - News), Intercell was dismissed from bankruptcy prompting the removal of the "Q" from the Intercell symbol.
ADVERTISEMENT
Intercell and NewMarket recently announced completing the transaction to reorganize NewMarket's Chinese operation with $20 million in anticipated 2006 revenue into Intercell. NewMarket's Chinese operation reported $10 million in revenue through the first two quarters of 2006. NewMarket acquired the majority interest in Intercell resulting in the NewMarket Chinese operation becoming an independently listed, consolidated subsidiary.
Intercell has approximately 25 million shares issued and outstanding. The average six month share price is $0.079 with an average daily volume of 59,692 shares. Intercell's share price closed yesterday at $0.09.
"The Intercell stock symbol change represents substantial progress," said Philip Verges the CEO of Intercell's largest shareholder, NewMarket Technology, Inc. "Intercell is not only out from under bankruptcy proceedings, but now also has a significant ongoing operation in the fastest growing economy in the world. The transaction between NewMarket and Intercell has taken some time and has involved some complexity which has delayed, in my view, the market's appreciation of the significant fundamental financial improvement in IICP. Now that the symbol reflects the Company's bankruptcy being dismissed, the market can focus on future financial progress. With IICP's 2006 fiscal year ending September 30th and already behind us, we look forward to reporting on continued revenue growth for 2007 to both shareholders of Intercell and NewMarket Technology."
Intercell Town Hall Meeting Presenting New Chinese Operation
The NewMarket China Town Hall will be held at the Hyatt Regency Denver Tech Center (http://techcenter.hyatt.com/hyatt/hotels/index.jsp) on November 16, 2006, at 2:30 p.m. MST. American Airlines (NYSE:AMR - News) and Avis Rental Car (NYSE:CAR - News) have offered NewMarket discounted rates on travel to Denver. To receive the discounted airfare, please go to www.aa.com or call 1-800-433-1790 and use discount code "A79N6BA." To take advantage of discounts with Avis, please go to www.avis.com and use code "B136001."
If you have any further questions, or would like to RSVP to the NewMarket China Town Hall please contact Whitney Marks at 214.722.3052 or wmarks@newmarkettechnology.com.
Deloitte Fast 500 Award
Deloitte recently announced NewMarket Technology is ranked fifth on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. NewMarket Technology grew 31,633 percent from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005, making NewMarket the fastest growing company in Texas on the Fast 500 ranking and the first Texas-based company to make the Top 5 since 2001. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq:MSFT - News), Cisco Systems (Nasdaq:CSCO - News) and Sun Microsystems (Nasdaq:SUNW - News). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of approximately 135,000 people worldwide, Deloitte delivers services in four professional areas--audit, tax, consulting and financial advisory services--and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names.
In the United States, Deloitte & Touche USA LLP is the member firm of Deloitte Touche Tohmatsu, and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation's leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 40,000 people in more than 90 cities. Known as an employer of choice for innovative human resources programs, it is dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm's Web site at www.deloitte.com/us.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Zu New Market Tech.:
Form 10-Q for NEWMARKET TECHNOLOGY INC
--------------------------------------------------------------------------------
15-Aug-2006
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Safe Harbor for Forward-Looking Statements
We have made forward-looking statements in this Form 10-Q under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in the "Notes to Consolidated Financial Statements." In addition, our representatives or management may make other written or oral statements that constitute forward-looking statements. Forward-looking statements are based on management's beliefs and assumptions and on information currently available to them. These statements often contain words like believe, expect, anticipate, intend, contemplate, seek, plan, estimate or similar expressions. We make these statements under the protection afforded them by
Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements involve risks, uncertainties and assumptions, including those discussed in this report. We operate in a continually changing business environment, and new risk factors emerge from time to time. We cannot predict those risk factors, nor can we assess the impact, if any, of those risk factors on our business or the extent to which any factors may cause actual results to differ materially from those projected in any forward-looking statements. Forward-looking statements do not guarantee future performance, and you should not put undue reliance on them.
Forward-looking statements can generally be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or the negative of these terms or other comparable terminology, or by discussions of strategy, plans or intentions. Statements contained in this report that are not historical facts are forward-looking statements. Without limiting the generality of the preceding statement, all statements in this report concerning or relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. These forward-looking statements are necessarily estimates reflecting our best judgment based upon current information and involve a number of risks and uncertainties. Other factors may affect the accuracy of these forward-looking statements, and our actual results may differ materially from the results anticipated in these forward-looking statements. While it is impossible to identify all relevant factors, factors that could cause actual results to differ materially from those estimated by us include, but are not limited to, those factors or conditions described in "Management Discussion and Analysis or Plan of Operation" as well as changes in the regulation of the IP telephony industry at either or both of the federal and state levels, competitive pressures in the IP telephony industry and our response to these factors, and general conditions in the economy and capital markets. For a more complete discussion of these and other risks, uncertainties and assumptions that may affect us, see the company's annual report on Form 10- KSB for the fiscal year ended December 31, 2005. Critical accounting policies The discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to revenue recognition, bad debts, inventories, warranty obligations, contingencies and income taxes. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. A discussion of our critical accounting policies and the related judgments and estimates affecting the preparation of our consolidated financial statements is included in the Annual Report on our Form 10-KSB fiscal year 2005 There have been no material changes to our critical accounting policies as of June 30, 2006.
Overview
NewMarket Technology is engaged in the business of developing market entry technology products and services into early and mainstream technology products and services. NewMarket has introduced a unique business model to this end with two substantial differentiating features.
1) we believe the NewMarket business model overcomes the profit margin pressure facing the technology service sector resulting from the globalization of the technology labor force and, 2) we believe the business model enhances the return on investment opportunity for shareholders through regularly generating the issue of equity dividends.
In general, the component functions of the NewMarket business model are to:
find and acquire timely early stage technology companies;
2) incrementally invest in order to refine the acquired technology offering for the marketplace; 3) concentrate initial sales efforts on focused pilot opportunities; 4) expand pilot opportunities to a level that prove market viability; 5) spin the technology company out into a next stage, stand alone company to support expanded capital formation; 6) create efficiencies and economies of scale by retaining support service contract functions at NewMarket Technology; and 7) build service and sales capacity in developing economies oversees to take advantage of reduced labor expense and to sell into fast growing economic regions with less brand name competition than in North America.
Technology sector businesses face two substantial market wide systemic issues. The first is the growing global technical labor force that is creating significant profit margin pressure. Technology companies continue to ratchet down expenses and sell at prices below their competition by employing the ever growing technology labor force from developing economic countries around the world. This global technology labor force is growing and technology companies will continue to chase each other's downward spiraling labor expense, in turn, continuing to squeeze technology company profit margins for the foreseeable future. Secondly, since the collapse of the dotcom investment market, the technology sector has not been able to re-establish consistent investment community interest in technology innovation. Profit margin pressure deters investment community interest at the same time making internal research and development investment an unlikely alternative. Technology innovation is critical to the technology sector. Updated technology products with enhanced features and performance that replace last generation products are a significant and critical portion of the overall technology market.
We believe NewMarket improves technology product and service profit margins by combining traditional product and service revenues with income monetized from the overall business value of a technology offering. The equity value is usually a factor of the future earnings potential of a new technology. Earnings potential is generally derived by projecting the currently realized revenue and earnings of a product or service offering, within its market entry customer scope, across the entire market of potential customers that are likely future candidates for the new product or service offering. NewMarket contains each technology product and service offering within a subsidiary company. As the product and service offering matures, NewMarket plans to monetize the overall value of the technology offering through an incremental liquidation of stock in the subsidiary company housing the now mature product or service offering. The revenue and profits of the now mature product or service offering combined with the income from the incremental sale of stock in the associated subsidiary will provide NewMarket with a profit margin advantage.
The NewMarket corporate structure that enables the incremental sale of subsidiary stock in order to boost product and service revenues and profits is also the aspect of the NewMarket business model that attracts investment in technology product and service innovation. In addition to selling stock in subsidiary companies to combine equity income with traditional product and service revenue and profits, the subsidiary structure provides an attractive long term and incremental return on investment opportunity for both institutional and retail common shareholders. When a subsidiary company is positioned for incremental liquidation through an independent public listing or the sale of subsidiary stock to a third-party company, NewMarket will issue subsidiary stock to common shareholders through a dividend declaration. By issuing stock in subsidiary companies to NewMarket common shareholders, NewMarket believes it will enhance long-term return opportunity for common shareholders by adding dividend returns to NewMarket stock appreciation, if any. The ability of NewMarket common shareholders to liquidate subsidiary stock issued in a NewMarket dividend creates incremental return opportunities that can be immediately realized without liquidating NewMarket stock.
We believe the NewMarket Technology business opportunity is perpetuated by the ongoing demand for technology innovation. New technologies likewise require ongoing investment. However, since the 2001 collapse of the high tech IPO market, new technologies have struggled to find investment and investors have not found an attractive start-up investment model.
NewMarket Technology has set out to replace the high tech IPO market with the micro-cap public market. The technology start- ups are appropriately much smaller organizations with more reasonable start-up goals. The required capital investments are correspondingly smaller.
In order to create a meaningful organization through smaller investments, the counter strategy to smaller investments is more investments. NewMarket is concentrating on Internet Protocol (IP) Communication Technologies. The Company currently has three market sector concentrations each leveraging a core expertise in IP Technology - Telecommunications, Healthcare and Homeland Security. NewMarket creates multiple investment and return opportunities around a single technology concentration. NewMarket plans to add Financial Services as a new market sector concentration in 2006.
The combination of multiple companies creates an inherent economy of scale opportunity. While the company is currently concentrating on three market sectors, it is building only one support service organization. Installation, integration, ongoing development, maintenance and customer service support are all folding under one organization to support all three markets. NewMarket plans to substantially reorganize its current support service operations in 2006 to optimize the inherent economy of scale opportunity.
Part of the Company's growth strategy includes expansion into high-growth developing economic regions. These developing economic regions provide both an environment for accelerated growth as well as a parallel platform for acquiring early stage subsidiary technology companies and developing them into mainstream technology service and product companies. NewMarket has entered into a joint venture with GaozhiSoft in Shanghai, China. The two companies have already combined resources to win initial sales contracts.
Recent Developments
In August 2006, the Company announced that it has entered into a definitive agreement with Intercell International Corporation ("Intercell") under which the Company will sell its interest in NewMarket China, Inc, a wholly-owned subsidiary, to Intercell in exchange for two million shares of Intercell common stock.
Future plans call for acquiring companies that augment and complement current products and customers. Such plans involve various risks to future business operations and financial condition. If the Company fails to perform adequate due diligence, NewMarket may acquire a company or technology that:
(a) is not complementary to the business;
(b) is difficult to assimilate into the business;
(c) subjects the Company to possible liability for technology or product defects; or
(d) involves substantial additional costs exceeding estimated costs.
In addition, the Company also faces the following risks in connection with its acquisitions:
(a) the Company may spend significant funds conducting negotiations and due diligence regarding a potential acquisition that may not result in a successfully completed transaction;
(b) the Company may be unable to negotiate acceptable terms of an acquisition;
(c) if financing is required to complete the acquisition, the Company may be unable to obtain such financing on reasonable terms, if at all; and
(d) negotiating and completing an acquisition, as well as integrating the acquisition into our operations, will divert management time and resources away from our current operations and increase our costs.
Results of Operations
Three months ended June 30, 2006 compared to three months ended June 30, 2005:
Net sales increased 62% from $10,419,171 for the quarter ended June 30, 2005 to $16,869,566 for the quarter ended June 30, 2006. This increase was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets.
Cost of sales increased 89% from $6,563,220 for the quarter ended June 30, 2005 to $12,436,390 for the quarter ended June 30, 2006. This increase was primarily due to the corresponding increase in overall sales. Our cost of sales, as a percentage of sales was 63% and 74% for the quarters ended June 30, 2005 and 2006, respectively. Management plans to continue to pursue strategies to reduce the overall cost of sales as a percentage of sales as the company grows. Management intends to leverage increased purchasing volume to improve purchasing contracts and reduce the overall cost of sales. Management also intends to implement resource utilization strategies that can demonstrate notable savings when applied over higher volumes of production.
Compensation expense decreased 21% from $2,264,668 for the quarter ended June 30, 2005 to $1,793,678 for the quarter ended June 30, 2006. Management is working to keep compensation expense in reasonable proportion to overall Company sales and expenses. Management has significantly decreased its stock-based compensation to outside consultants, officers and related party consultants and plans to continue to limit such compensation. No performance incentive compensation program has been put in place since the implementation of the Company's new business model in June 2002, but management has plans to construct and implement such a plan in the future.
General and administrative expenses increased 52% to $1,757,771 for the quarter ended June 30, 2006 from $1,158,483 for the quarter ended June 30, 2005. The increase in general and administrative expenses was primarily due to the overall increase in sales and operational expenses. Management plans to reduce general and administrative expenses as a percentage of overall sales through the consolidation of redundant processes and resources inherited through acquisition activity.
Depreciation and amortization expense increased 17% from $171,618 for the quarter ended June 30, 2005 to $200,699 for the quarter ended June 30, 2006. The increase is primarily due to an increase in fixed assets. Depreciation on fixed assets is calculated on the straight-line method over the estimated useful lives of the assets.
Net income increased 322% from $114,031 for the quarter ended June 30, 2005 to $481,502 for the quarter ended June 30, 2006. Net income represented 2.9% and 1.1% of net sales for the quarters ended June 30, 2006 and 2005, respectively. Comprehensive net income, which is adjusted to compensate for the risk associated with foreign profits and the potential conversion of foreign currency, increased 360% from $103,890 for the quarter ended June 30, 2005 to $477,957 for the quarter ended June 30, 2006. Comprehensive net income represented 2.8% and 1.0% of net sales for the quarters ended June 30, 2006 and 2005, respectively. The increase in net income and increase in the percentage of net sales was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets and the investment in operations made to effect such growth.
Six months ended June 30, 2006 compared to six months ended June 30, 2005:
Net sales increased 66% from $20,606,253 for the six months ended June 30, 2005 to $34,199,726 for the six months ended June 30, 2006. This increase was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets.
Cost of sales increased 105% from $12,014,025 for the six months ended June 30, 2005 to $24,639,605 for the six months ended June 30, 2006. This increase was primarily due to the corresponding increase in overall sales. Our cost of sales, as a percentage of sales was 58% and 72% for the six months ended June 30, 2005 and 2006, respectively. Management plans to continue to pursue strategies to reduce the overall cost of sales as a percentage of sales as the company grows. Management intends to leverage increased purchasing volume to improve purchasing contracts and reduce the overall cost of sales. Management also intends to implement resource utilization strategies that can demonstrate notable savings when applied over higher volumes of production.
Compensation expense decreased 22% from $4,877,411 for the six months ended June 30, 2005 to $3,790,162 for the six months ended June 30, 2006. Management is working to keep compensation expense in reasonable proportion to overall Company sales and expenses. Management has significantly decreased its stock-based compensation to outside consultants, officers and related party consultants and plans to continue to limit such compensation. No performance incentive compensation program has been put in place since the implementation of the Company's new business model in June 2002, but management has plans to construct and implement such a plan in the future.
General and administrative expenses increased 31% to $3,666,358 for the six months ended June 30, 2006 from $2,797,255 for the six months ended June 30, 2005. The increase in general and administrative expenses was primarily due to the overall increase in sales and operational expenses. Management plans to reduce general and administrative expenses as a percentage of overall sales through the consolidation of redundant processes and resources inherited through acquisition activity.
Depreciation and amortization expense increased 3% from $344,424 for the quarter ended June 30, 2005 to $354,598 for the quarter ended June 30, 2006. The increase is primarily due to an increase in fixed assets. Depreciation on fixed assets is calculated on the straight-line method over the estimated useful lives of the assets.
Net income increased 322% from $217,182 for the six months ended June 30, 2005 to $915,800 for the six months ended June 30, 2006. Net income represented 2.7% and 1.1% of net sales for the six months ended June 30, 2006 and 2005, respectively. Comprehensive net income, which is adjusted to compensate for the risk associated with foreign profits and the potential conversion of foreign currency, increased 410% from $207,073 for the six months ended June 30, 2005 to $1,055,344 for the six months ended June 30, 2006. Comprehensive net income represented 3.1% and 1.0% of net sales for the six months ended June 30, 2006 and 2005, respectively. The increase in net income and increase in the percentage of net sales was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets and the investment in operations made to effect such growth.
Liquidity and Capital Resources
The Company's cash balance at June 30, 2006 decreased $272,123 from $3,106,521 as of December 31, 2005, to $2,834,398. The decrease was the result of a combination of loan proceeds totaling $1,804,149, proceeds from asset sales totaling 70,872 and cash flows from operations totaling $661,920, offset by cash used for repayment of loans totaling $1,887,554, investing activities totaling $243,517 and the effect of exchange rates on cash totaling $607,131. Operating activities for the six months ended June 30, 2006 exclusive of changes in operating assets and liabilities provided $1,819,435, as well as an decrease in receivables and other current assets of $4,922,365, offset by a decrease in accounts payable and accrued and other current liabilities of $6,079,880.
Since inception, the Company has financed operations primarily through equity security sales. The start-up nature of the Company may require further need to raise cash through equity sales at some point in the future in order to sustain operations. Accordingly, if revenues are insufficient to meet needs, we will attempt to secure additional financing through traditional bank financing or a debt or equity offering; however, because the start-up nature of the Company and the potential of a future poor financial condition, we may be unsuccessful in obtaining such financing or the amount of the financing may be minimal and therefore inadequate to implement our continuing plan of operations. There can be no assurance that we will be able to obtain financing on satisfactory terms or at all, or raise funds through a debt or equity offering. In addition, if we only have nominal funds by which to conduct our operations, it will negatively impact our potential revenues.
Cautionary Statements
We have incurred operating losses from time to time in each of the last three years.
We cannot be certain that we can sustain or increase profitability on a quarterly or annual basis in the future. If we are unable to remain profitable, our liquidity could be materially harmed.
We cannot predict our future results because our business has a limited operating history, particularly in its current form.
Given our limited operating history, it will be difficult to predict our future results. You should consider the uncertainties that we may encounter as an early stage company in a new and rapidly evolving market. These uncertainties include:
o ......market acceptance of our products or services
o ......consumer demand for, and acceptance of, our products, services and follow-on products
o ......our ability to create user-friendly applications
o ......our unproven and evolving business model
o .....potential political uncertainty in foreign markets which we operate in
We have only recently begun to generate significant revenues and we still incurred losses in fiscal years 2001 and 2002.
We have a limited operating history and incurred losses for 2001 and 2002. We will need to achieve greater revenues to maintain profitability. There can be no assurance that we will be successful in increasing revenues, or generating acceptable margins, or, if we do, that operation of our business will be a profitable business enterprise. We may have to seek additional outside sources of capital for our business. There can be no assurance that we will be able to obtain such capital on favorable terms and conditions or at all. If this occurs the market price of our common stock could suffer.
Our quarterly and annual sales and financial results have varied significantly in the past, and we expect to experience fluctuations in the future, which mean that period-to-period comparisons are not necessarily meaningful or indicative of future performance.
Our sales and operating results have varied, and may continue to vary, significantly from year to year and from quarter to quarter as a result of a variety of factors, including the introduction of new products by competitors, pricing pressures, the timing of the completion or the cancellation of projects, the evolving and unpredictable nature of the markets in which our products and services are sold and economic conditions generally or in certain geographic areas in which our customers do business. Furthermore, we may be unable to control spending in a timely manner to compensate for any unexpected revenue shortfall. Accordingly, we cannot assure you that sales and net income, if any, in any particular quarter will not be lower than sales and net income, if any, in a preceding or comparable quarter or quarters. In addition, sales and net income, if any, in any particular quarter are not likely to be indicative of the results of operations for any other quarter or for the full year. The trading prices of our securities may fluctuate significantly in response to variations in our quarterly or annual results of operations.
We may not be able to sustain or accelerate growth, or sustain or accelerate recurring revenue from our business.
There can be no assurance that demand for our services and products will increase or be sustained, or that our current or future products will have market acceptance in that product category. Our acquisition costs per customer are high due to the significant costs associated with sales, research and development and marketing. To the extent we do not achieve growth and this cost per customer is not reduced, it will be difficult for us to generate meaningful revenue at acceptable margins or achieve profitability. To the extent that our business model is not successful, because market acceptance does not develop as expected, or other competing technologies evolve in connection with the changing market or for any other reason, we might have future unexpected declines in revenue.
Rapid technological change could render our products and services obsolete.
The IP Telephony industry is characterized by rapid technological innovation, sudden changes in user and customer requirements and preferences, frequent new product and service introductions and the emergence of new industry standards and practices. Each of these characteristics could render our services, products, intellectual property and systems obsolete. The rapid evolution of our market requires that we improve continually the performance, features and reliability of our products and services, particularly in response . . .
Hier das Deloitte’s Texas Technology Fast 50 Ranking :
NewMarket Technology, Inc. Tops Deloitte’s Texas Technology Fast 50 Ranking of Fastest Growing Companies, with 31,633% Revenue Growth Over Five Years
Texas Technology Fast 50 Winners Experience Average Revenue Growth of 2,225%
DALLAS, Aug. 23, 2006 — NewMarket Technology, Inc. tops the list of the fastest growing companies in Texas as recognized by Deloitte & Touche USA LLP. The Texas Technology Fast 50 is the only statewide annual award program that ranks technology, media, telecommunications and life sciences companies located in Texas by revenue growth over five years.
“Deloitte’s Texas Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Skip Moore, Regional Managing Partner, Technology, Media & Telecommunications, Deloitte & Touche LLP.
Dallas-based NewMarket Technology has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket Technology had a 31,633 percent growth rate over five years. The company ranked second on the 2005 Texas Technology Fast 50 and number 20 on the 2004 Texas Technology Fast 50.
Ranked second in Texas with a 10,810 percent growth rate over five years, Houston-based RigNet, Inc. is a leading global provider of IP-based voice, data and video managed services exclusively to the oil and gas industry.
Winners are selected based on percentage revenue growth over five years from 2001 to 2005. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2001 and at least $5,000,000 in 2005; be headquartered in Texas; own proprietary technology or proprietary intellectual property that contributes to a significant portion of its operating revenues, or devote a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded.
The Texas Technology Fast 50 company ranking is as follows:
2006 Rank Company City 5 year % growth
1 New Market Technology, Inc. Dallas 31,633
2 RigNet, Inc. Houston 10,810
3 Tanox, Inc. Houston 10,565
4 Molecular Imprints, Inc. Austin 8,767
5 Zix Corporation Dallas 4,305
6 360training Austin 3,829
7 NetQoS, Inc. Austin 3,347
8 Zilliant, Inc. Austin 3,294
9 PreCash, Inc. Houston 3,158
10 Webxites, LP Houston 3,034
11 Convio, Inc. Austin 2,493
12 Infoglide Software Corporation Austin 2,082
13 Citadel Security Software Inc. Dallas 1,674
14 Pinnacle Technical Resources, Inc. Dallas 1,296
15 GENBAND, Inc. Plano 1,253
16 The Planet.Com Internet Services, Inc. Dallas 1,248
17 SigmaTel, Inc. Austin 1,231
18 INX, Inc. Houston 1,029
19 Medical Present Value, Inc. Austin 964
20 PFSweb, Inc. Plano 944
21 DataCert, Inc. Houston 902
22 HRsmart, Inc. Richardson 825
23 e-Rewards, Inc. Dallas 816
24 Encore Medical Corporation Austin 771
25 FuelQuest, Inc. Houston 757
26 Myriad Development, Inc. Austin 740
27 QuantumDirect, Inc. Austin 710
28 ObjectWin Technology, Inc. Houston 705
29 Goodman Networks, Inc. Farmers Branch 614
30 RamQuest Software, Inc. Plano 606
31 e-MDS Austin 573
32 Network International, Inc. Houston 487
33 Builder Homesite, Inc. Austin 480
34 Silicon Laboratories Inc. Austin 475
35 Paymetric, Inc. Houston 459
36 Rackspace Managed Hosting San Antonio 406
37 Resulte Universal Dallas 394
38 Perficient, Inc. Austin 375
39 MapFrame Corporation Dallas 356
40 Accudata Technologies Allen 353
41 True Automation, Inc. Plano 325
42 Glow Networks, Inc. Richardson 319
43 Hyphen Solutions, Ltd. Addison 294
44 Accuro Healthcare Solutions, Inc. Dallas 291
45 Data Management, Inc. San Angelo 272
46 Multimedia Games, Inc. Austin 232
47 SiteStuff, Inc. Austin 225
48 Datamatic, Ltd. Plano 204
49 ArthroCare Corporation Austin 173
50 VirTex Assembly Services, Inc.
Austin 169
The Technology Fast 50 program is presented by Deloitte & Touche USA LLP, in association with CRESA Partners, HumCap, Merrill Lynch, NASDAQ and Gardere.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche
Gruß
Kauf: Intercell Intern. Corp WKN 676706
Die Mutter New Market Tech. ist bei einem Umsatz von 60 Mill. Dollar mit knapp 60 Mill. Euro bewertet. Durch Einbringung des China-Geschäftes in die Intercell Int. Inc. wird diese Company zu einer Tochter von New Market Tech. Bei einer Bewertung von aktuell 2,5 Mill. Dollar wird das China Geschäft mit 20 Mill. Dollar eingebracht. Aktuell besteht also eine Bewertungsdifferenz New Market Tech. zu Intercell von 8:1. Hier sollte zumindest ein Teil der Differenz abgebaut werden können.
New-Market Tech. selbst ist das am stärksten wachsende Unternehmen in USA.
Hier ein paar Infos:
Intercell International, Inc. Stock Symbol Change to IICP Reported by OTCBB Resulting From Recent Transaction with NewMarket Technology, Inc.
Thursday November 2, 10:04 am ET
NewMarket Purchases Controlling Interest in Intercell and Reorganizes NewMarket Chinese Subsidiary with $20 Million in Anticipated 2006 Revenue into Intercell
DALLAS--(BUSINESS WIRE)--Intercell International Corporation (OTCBB:IICP - News) today announced a stock symbol change. The OTCBB reported yesterday that the symbol had changed from IICPQ to IICP. The "Q" previously included on the end of the symbol was an indication that the Company was operating in bankruptcy. As part of the recently announced transaction with NewMarket Technology, Inc. (OTCBB:NMKT - News), Intercell was dismissed from bankruptcy prompting the removal of the "Q" from the Intercell symbol.
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Intercell and NewMarket recently announced completing the transaction to reorganize NewMarket's Chinese operation with $20 million in anticipated 2006 revenue into Intercell. NewMarket's Chinese operation reported $10 million in revenue through the first two quarters of 2006. NewMarket acquired the majority interest in Intercell resulting in the NewMarket Chinese operation becoming an independently listed, consolidated subsidiary.
Intercell has approximately 25 million shares issued and outstanding. The average six month share price is $0.079 with an average daily volume of 59,692 shares. Intercell's share price closed yesterday at $0.09.
"The Intercell stock symbol change represents substantial progress," said Philip Verges the CEO of Intercell's largest shareholder, NewMarket Technology, Inc. "Intercell is not only out from under bankruptcy proceedings, but now also has a significant ongoing operation in the fastest growing economy in the world. The transaction between NewMarket and Intercell has taken some time and has involved some complexity which has delayed, in my view, the market's appreciation of the significant fundamental financial improvement in IICP. Now that the symbol reflects the Company's bankruptcy being dismissed, the market can focus on future financial progress. With IICP's 2006 fiscal year ending September 30th and already behind us, we look forward to reporting on continued revenue growth for 2007 to both shareholders of Intercell and NewMarket Technology."
Intercell Town Hall Meeting Presenting New Chinese Operation
The NewMarket China Town Hall will be held at the Hyatt Regency Denver Tech Center (http://techcenter.hyatt.com/hyatt/hotels/index.jsp) on November 16, 2006, at 2:30 p.m. MST. American Airlines (NYSE:AMR - News) and Avis Rental Car (NYSE:CAR - News) have offered NewMarket discounted rates on travel to Denver. To receive the discounted airfare, please go to www.aa.com or call 1-800-433-1790 and use discount code "A79N6BA." To take advantage of discounts with Avis, please go to www.avis.com and use code "B136001."
If you have any further questions, or would like to RSVP to the NewMarket China Town Hall please contact Whitney Marks at 214.722.3052 or wmarks@newmarkettechnology.com.
Deloitte Fast 500 Award
Deloitte recently announced NewMarket Technology is ranked fifth on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. NewMarket Technology grew 31,633 percent from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005, making NewMarket the fastest growing company in Texas on the Fast 500 ranking and the first Texas-based company to make the Top 5 since 2001. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq:MSFT - News), Cisco Systems (Nasdaq:CSCO - News) and Sun Microsystems (Nasdaq:SUNW - News). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of approximately 135,000 people worldwide, Deloitte delivers services in four professional areas--audit, tax, consulting and financial advisory services--and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names.
In the United States, Deloitte & Touche USA LLP is the member firm of Deloitte Touche Tohmatsu, and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation's leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 40,000 people in more than 90 cities. Known as an employer of choice for innovative human resources programs, it is dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm's Web site at www.deloitte.com/us.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Zu New Market Tech.:
Form 10-Q for NEWMARKET TECHNOLOGY INC
--------------------------------------------------------------------------------
15-Aug-2006
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Safe Harbor for Forward-Looking Statements
We have made forward-looking statements in this Form 10-Q under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in the "Notes to Consolidated Financial Statements." In addition, our representatives or management may make other written or oral statements that constitute forward-looking statements. Forward-looking statements are based on management's beliefs and assumptions and on information currently available to them. These statements often contain words like believe, expect, anticipate, intend, contemplate, seek, plan, estimate or similar expressions. We make these statements under the protection afforded them by
Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements involve risks, uncertainties and assumptions, including those discussed in this report. We operate in a continually changing business environment, and new risk factors emerge from time to time. We cannot predict those risk factors, nor can we assess the impact, if any, of those risk factors on our business or the extent to which any factors may cause actual results to differ materially from those projected in any forward-looking statements. Forward-looking statements do not guarantee future performance, and you should not put undue reliance on them.
Forward-looking statements can generally be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or the negative of these terms or other comparable terminology, or by discussions of strategy, plans or intentions. Statements contained in this report that are not historical facts are forward-looking statements. Without limiting the generality of the preceding statement, all statements in this report concerning or relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. These forward-looking statements are necessarily estimates reflecting our best judgment based upon current information and involve a number of risks and uncertainties. Other factors may affect the accuracy of these forward-looking statements, and our actual results may differ materially from the results anticipated in these forward-looking statements. While it is impossible to identify all relevant factors, factors that could cause actual results to differ materially from those estimated by us include, but are not limited to, those factors or conditions described in "Management Discussion and Analysis or Plan of Operation" as well as changes in the regulation of the IP telephony industry at either or both of the federal and state levels, competitive pressures in the IP telephony industry and our response to these factors, and general conditions in the economy and capital markets. For a more complete discussion of these and other risks, uncertainties and assumptions that may affect us, see the company's annual report on Form 10- KSB for the fiscal year ended December 31, 2005. Critical accounting policies The discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to revenue recognition, bad debts, inventories, warranty obligations, contingencies and income taxes. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. A discussion of our critical accounting policies and the related judgments and estimates affecting the preparation of our consolidated financial statements is included in the Annual Report on our Form 10-KSB fiscal year 2005 There have been no material changes to our critical accounting policies as of June 30, 2006.
Overview
NewMarket Technology is engaged in the business of developing market entry technology products and services into early and mainstream technology products and services. NewMarket has introduced a unique business model to this end with two substantial differentiating features.
1) we believe the NewMarket business model overcomes the profit margin pressure facing the technology service sector resulting from the globalization of the technology labor force and, 2) we believe the business model enhances the return on investment opportunity for shareholders through regularly generating the issue of equity dividends.
In general, the component functions of the NewMarket business model are to:
find and acquire timely early stage technology companies;
2) incrementally invest in order to refine the acquired technology offering for the marketplace; 3) concentrate initial sales efforts on focused pilot opportunities; 4) expand pilot opportunities to a level that prove market viability; 5) spin the technology company out into a next stage, stand alone company to support expanded capital formation; 6) create efficiencies and economies of scale by retaining support service contract functions at NewMarket Technology; and 7) build service and sales capacity in developing economies oversees to take advantage of reduced labor expense and to sell into fast growing economic regions with less brand name competition than in North America.
Technology sector businesses face two substantial market wide systemic issues. The first is the growing global technical labor force that is creating significant profit margin pressure. Technology companies continue to ratchet down expenses and sell at prices below their competition by employing the ever growing technology labor force from developing economic countries around the world. This global technology labor force is growing and technology companies will continue to chase each other's downward spiraling labor expense, in turn, continuing to squeeze technology company profit margins for the foreseeable future. Secondly, since the collapse of the dotcom investment market, the technology sector has not been able to re-establish consistent investment community interest in technology innovation. Profit margin pressure deters investment community interest at the same time making internal research and development investment an unlikely alternative. Technology innovation is critical to the technology sector. Updated technology products with enhanced features and performance that replace last generation products are a significant and critical portion of the overall technology market.
We believe NewMarket improves technology product and service profit margins by combining traditional product and service revenues with income monetized from the overall business value of a technology offering. The equity value is usually a factor of the future earnings potential of a new technology. Earnings potential is generally derived by projecting the currently realized revenue and earnings of a product or service offering, within its market entry customer scope, across the entire market of potential customers that are likely future candidates for the new product or service offering. NewMarket contains each technology product and service offering within a subsidiary company. As the product and service offering matures, NewMarket plans to monetize the overall value of the technology offering through an incremental liquidation of stock in the subsidiary company housing the now mature product or service offering. The revenue and profits of the now mature product or service offering combined with the income from the incremental sale of stock in the associated subsidiary will provide NewMarket with a profit margin advantage.
The NewMarket corporate structure that enables the incremental sale of subsidiary stock in order to boost product and service revenues and profits is also the aspect of the NewMarket business model that attracts investment in technology product and service innovation. In addition to selling stock in subsidiary companies to combine equity income with traditional product and service revenue and profits, the subsidiary structure provides an attractive long term and incremental return on investment opportunity for both institutional and retail common shareholders. When a subsidiary company is positioned for incremental liquidation through an independent public listing or the sale of subsidiary stock to a third-party company, NewMarket will issue subsidiary stock to common shareholders through a dividend declaration. By issuing stock in subsidiary companies to NewMarket common shareholders, NewMarket believes it will enhance long-term return opportunity for common shareholders by adding dividend returns to NewMarket stock appreciation, if any. The ability of NewMarket common shareholders to liquidate subsidiary stock issued in a NewMarket dividend creates incremental return opportunities that can be immediately realized without liquidating NewMarket stock.
We believe the NewMarket Technology business opportunity is perpetuated by the ongoing demand for technology innovation. New technologies likewise require ongoing investment. However, since the 2001 collapse of the high tech IPO market, new technologies have struggled to find investment and investors have not found an attractive start-up investment model.
NewMarket Technology has set out to replace the high tech IPO market with the micro-cap public market. The technology start- ups are appropriately much smaller organizations with more reasonable start-up goals. The required capital investments are correspondingly smaller.
In order to create a meaningful organization through smaller investments, the counter strategy to smaller investments is more investments. NewMarket is concentrating on Internet Protocol (IP) Communication Technologies. The Company currently has three market sector concentrations each leveraging a core expertise in IP Technology - Telecommunications, Healthcare and Homeland Security. NewMarket creates multiple investment and return opportunities around a single technology concentration. NewMarket plans to add Financial Services as a new market sector concentration in 2006.
The combination of multiple companies creates an inherent economy of scale opportunity. While the company is currently concentrating on three market sectors, it is building only one support service organization. Installation, integration, ongoing development, maintenance and customer service support are all folding under one organization to support all three markets. NewMarket plans to substantially reorganize its current support service operations in 2006 to optimize the inherent economy of scale opportunity.
Part of the Company's growth strategy includes expansion into high-growth developing economic regions. These developing economic regions provide both an environment for accelerated growth as well as a parallel platform for acquiring early stage subsidiary technology companies and developing them into mainstream technology service and product companies. NewMarket has entered into a joint venture with GaozhiSoft in Shanghai, China. The two companies have already combined resources to win initial sales contracts.
Recent Developments
In August 2006, the Company announced that it has entered into a definitive agreement with Intercell International Corporation ("Intercell") under which the Company will sell its interest in NewMarket China, Inc, a wholly-owned subsidiary, to Intercell in exchange for two million shares of Intercell common stock.
Future plans call for acquiring companies that augment and complement current products and customers. Such plans involve various risks to future business operations and financial condition. If the Company fails to perform adequate due diligence, NewMarket may acquire a company or technology that:
(a) is not complementary to the business;
(b) is difficult to assimilate into the business;
(c) subjects the Company to possible liability for technology or product defects; or
(d) involves substantial additional costs exceeding estimated costs.
In addition, the Company also faces the following risks in connection with its acquisitions:
(a) the Company may spend significant funds conducting negotiations and due diligence regarding a potential acquisition that may not result in a successfully completed transaction;
(b) the Company may be unable to negotiate acceptable terms of an acquisition;
(c) if financing is required to complete the acquisition, the Company may be unable to obtain such financing on reasonable terms, if at all; and
(d) negotiating and completing an acquisition, as well as integrating the acquisition into our operations, will divert management time and resources away from our current operations and increase our costs.
Results of Operations
Three months ended June 30, 2006 compared to three months ended June 30, 2005:
Net sales increased 62% from $10,419,171 for the quarter ended June 30, 2005 to $16,869,566 for the quarter ended June 30, 2006. This increase was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets.
Cost of sales increased 89% from $6,563,220 for the quarter ended June 30, 2005 to $12,436,390 for the quarter ended June 30, 2006. This increase was primarily due to the corresponding increase in overall sales. Our cost of sales, as a percentage of sales was 63% and 74% for the quarters ended June 30, 2005 and 2006, respectively. Management plans to continue to pursue strategies to reduce the overall cost of sales as a percentage of sales as the company grows. Management intends to leverage increased purchasing volume to improve purchasing contracts and reduce the overall cost of sales. Management also intends to implement resource utilization strategies that can demonstrate notable savings when applied over higher volumes of production.
Compensation expense decreased 21% from $2,264,668 for the quarter ended June 30, 2005 to $1,793,678 for the quarter ended June 30, 2006. Management is working to keep compensation expense in reasonable proportion to overall Company sales and expenses. Management has significantly decreased its stock-based compensation to outside consultants, officers and related party consultants and plans to continue to limit such compensation. No performance incentive compensation program has been put in place since the implementation of the Company's new business model in June 2002, but management has plans to construct and implement such a plan in the future.
General and administrative expenses increased 52% to $1,757,771 for the quarter ended June 30, 2006 from $1,158,483 for the quarter ended June 30, 2005. The increase in general and administrative expenses was primarily due to the overall increase in sales and operational expenses. Management plans to reduce general and administrative expenses as a percentage of overall sales through the consolidation of redundant processes and resources inherited through acquisition activity.
Depreciation and amortization expense increased 17% from $171,618 for the quarter ended June 30, 2005 to $200,699 for the quarter ended June 30, 2006. The increase is primarily due to an increase in fixed assets. Depreciation on fixed assets is calculated on the straight-line method over the estimated useful lives of the assets.
Net income increased 322% from $114,031 for the quarter ended June 30, 2005 to $481,502 for the quarter ended June 30, 2006. Net income represented 2.9% and 1.1% of net sales for the quarters ended June 30, 2006 and 2005, respectively. Comprehensive net income, which is adjusted to compensate for the risk associated with foreign profits and the potential conversion of foreign currency, increased 360% from $103,890 for the quarter ended June 30, 2005 to $477,957 for the quarter ended June 30, 2006. Comprehensive net income represented 2.8% and 1.0% of net sales for the quarters ended June 30, 2006 and 2005, respectively. The increase in net income and increase in the percentage of net sales was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets and the investment in operations made to effect such growth.
Six months ended June 30, 2006 compared to six months ended June 30, 2005:
Net sales increased 66% from $20,606,253 for the six months ended June 30, 2005 to $34,199,726 for the six months ended June 30, 2006. This increase was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets.
Cost of sales increased 105% from $12,014,025 for the six months ended June 30, 2005 to $24,639,605 for the six months ended June 30, 2006. This increase was primarily due to the corresponding increase in overall sales. Our cost of sales, as a percentage of sales was 58% and 72% for the six months ended June 30, 2005 and 2006, respectively. Management plans to continue to pursue strategies to reduce the overall cost of sales as a percentage of sales as the company grows. Management intends to leverage increased purchasing volume to improve purchasing contracts and reduce the overall cost of sales. Management also intends to implement resource utilization strategies that can demonstrate notable savings when applied over higher volumes of production.
Compensation expense decreased 22% from $4,877,411 for the six months ended June 30, 2005 to $3,790,162 for the six months ended June 30, 2006. Management is working to keep compensation expense in reasonable proportion to overall Company sales and expenses. Management has significantly decreased its stock-based compensation to outside consultants, officers and related party consultants and plans to continue to limit such compensation. No performance incentive compensation program has been put in place since the implementation of the Company's new business model in June 2002, but management has plans to construct and implement such a plan in the future.
General and administrative expenses increased 31% to $3,666,358 for the six months ended June 30, 2006 from $2,797,255 for the six months ended June 30, 2005. The increase in general and administrative expenses was primarily due to the overall increase in sales and operational expenses. Management plans to reduce general and administrative expenses as a percentage of overall sales through the consolidation of redundant processes and resources inherited through acquisition activity.
Depreciation and amortization expense increased 3% from $344,424 for the quarter ended June 30, 2005 to $354,598 for the quarter ended June 30, 2006. The increase is primarily due to an increase in fixed assets. Depreciation on fixed assets is calculated on the straight-line method over the estimated useful lives of the assets.
Net income increased 322% from $217,182 for the six months ended June 30, 2005 to $915,800 for the six months ended June 30, 2006. Net income represented 2.7% and 1.1% of net sales for the six months ended June 30, 2006 and 2005, respectively. Comprehensive net income, which is adjusted to compensate for the risk associated with foreign profits and the potential conversion of foreign currency, increased 410% from $207,073 for the six months ended June 30, 2005 to $1,055,344 for the six months ended June 30, 2006. Comprehensive net income represented 3.1% and 1.0% of net sales for the six months ended June 30, 2006 and 2005, respectively. The increase in net income and increase in the percentage of net sales was primarily due to the implementation of the previously herein described new business model implemented in June 2002 and the corresponding herein described acquisitions starting with VTI in June 2002, in addition to the operations and growth from the acquired assets and the investment in operations made to effect such growth.
Liquidity and Capital Resources
The Company's cash balance at June 30, 2006 decreased $272,123 from $3,106,521 as of December 31, 2005, to $2,834,398. The decrease was the result of a combination of loan proceeds totaling $1,804,149, proceeds from asset sales totaling 70,872 and cash flows from operations totaling $661,920, offset by cash used for repayment of loans totaling $1,887,554, investing activities totaling $243,517 and the effect of exchange rates on cash totaling $607,131. Operating activities for the six months ended June 30, 2006 exclusive of changes in operating assets and liabilities provided $1,819,435, as well as an decrease in receivables and other current assets of $4,922,365, offset by a decrease in accounts payable and accrued and other current liabilities of $6,079,880.
Since inception, the Company has financed operations primarily through equity security sales. The start-up nature of the Company may require further need to raise cash through equity sales at some point in the future in order to sustain operations. Accordingly, if revenues are insufficient to meet needs, we will attempt to secure additional financing through traditional bank financing or a debt or equity offering; however, because the start-up nature of the Company and the potential of a future poor financial condition, we may be unsuccessful in obtaining such financing or the amount of the financing may be minimal and therefore inadequate to implement our continuing plan of operations. There can be no assurance that we will be able to obtain financing on satisfactory terms or at all, or raise funds through a debt or equity offering. In addition, if we only have nominal funds by which to conduct our operations, it will negatively impact our potential revenues.
Cautionary Statements
We have incurred operating losses from time to time in each of the last three years.
We cannot be certain that we can sustain or increase profitability on a quarterly or annual basis in the future. If we are unable to remain profitable, our liquidity could be materially harmed.
We cannot predict our future results because our business has a limited operating history, particularly in its current form.
Given our limited operating history, it will be difficult to predict our future results. You should consider the uncertainties that we may encounter as an early stage company in a new and rapidly evolving market. These uncertainties include:
o ......market acceptance of our products or services
o ......consumer demand for, and acceptance of, our products, services and follow-on products
o ......our ability to create user-friendly applications
o ......our unproven and evolving business model
o .....potential political uncertainty in foreign markets which we operate in
We have only recently begun to generate significant revenues and we still incurred losses in fiscal years 2001 and 2002.
We have a limited operating history and incurred losses for 2001 and 2002. We will need to achieve greater revenues to maintain profitability. There can be no assurance that we will be successful in increasing revenues, or generating acceptable margins, or, if we do, that operation of our business will be a profitable business enterprise. We may have to seek additional outside sources of capital for our business. There can be no assurance that we will be able to obtain such capital on favorable terms and conditions or at all. If this occurs the market price of our common stock could suffer.
Our quarterly and annual sales and financial results have varied significantly in the past, and we expect to experience fluctuations in the future, which mean that period-to-period comparisons are not necessarily meaningful or indicative of future performance.
Our sales and operating results have varied, and may continue to vary, significantly from year to year and from quarter to quarter as a result of a variety of factors, including the introduction of new products by competitors, pricing pressures, the timing of the completion or the cancellation of projects, the evolving and unpredictable nature of the markets in which our products and services are sold and economic conditions generally or in certain geographic areas in which our customers do business. Furthermore, we may be unable to control spending in a timely manner to compensate for any unexpected revenue shortfall. Accordingly, we cannot assure you that sales and net income, if any, in any particular quarter will not be lower than sales and net income, if any, in a preceding or comparable quarter or quarters. In addition, sales and net income, if any, in any particular quarter are not likely to be indicative of the results of operations for any other quarter or for the full year. The trading prices of our securities may fluctuate significantly in response to variations in our quarterly or annual results of operations.
We may not be able to sustain or accelerate growth, or sustain or accelerate recurring revenue from our business.
There can be no assurance that demand for our services and products will increase or be sustained, or that our current or future products will have market acceptance in that product category. Our acquisition costs per customer are high due to the significant costs associated with sales, research and development and marketing. To the extent we do not achieve growth and this cost per customer is not reduced, it will be difficult for us to generate meaningful revenue at acceptable margins or achieve profitability. To the extent that our business model is not successful, because market acceptance does not develop as expected, or other competing technologies evolve in connection with the changing market or for any other reason, we might have future unexpected declines in revenue.
Rapid technological change could render our products and services obsolete.
The IP Telephony industry is characterized by rapid technological innovation, sudden changes in user and customer requirements and preferences, frequent new product and service introductions and the emergence of new industry standards and practices. Each of these characteristics could render our services, products, intellectual property and systems obsolete. The rapid evolution of our market requires that we improve continually the performance, features and reliability of our products and services, particularly in response . . .
Hier das Deloitte’s Texas Technology Fast 50 Ranking :
NewMarket Technology, Inc. Tops Deloitte’s Texas Technology Fast 50 Ranking of Fastest Growing Companies, with 31,633% Revenue Growth Over Five Years
Texas Technology Fast 50 Winners Experience Average Revenue Growth of 2,225%
DALLAS, Aug. 23, 2006 — NewMarket Technology, Inc. tops the list of the fastest growing companies in Texas as recognized by Deloitte & Touche USA LLP. The Texas Technology Fast 50 is the only statewide annual award program that ranks technology, media, telecommunications and life sciences companies located in Texas by revenue growth over five years.
“Deloitte’s Texas Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Skip Moore, Regional Managing Partner, Technology, Media & Telecommunications, Deloitte & Touche LLP.
Dallas-based NewMarket Technology has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket Technology had a 31,633 percent growth rate over five years. The company ranked second on the 2005 Texas Technology Fast 50 and number 20 on the 2004 Texas Technology Fast 50.
Ranked second in Texas with a 10,810 percent growth rate over five years, Houston-based RigNet, Inc. is a leading global provider of IP-based voice, data and video managed services exclusively to the oil and gas industry.
Winners are selected based on percentage revenue growth over five years from 2001 to 2005. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2001 and at least $5,000,000 in 2005; be headquartered in Texas; own proprietary technology or proprietary intellectual property that contributes to a significant portion of its operating revenues, or devote a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded.
The Texas Technology Fast 50 company ranking is as follows:
2006 Rank Company City 5 year % growth
1 New Market Technology, Inc. Dallas 31,633
2 RigNet, Inc. Houston 10,810
3 Tanox, Inc. Houston 10,565
4 Molecular Imprints, Inc. Austin 8,767
5 Zix Corporation Dallas 4,305
6 360training Austin 3,829
7 NetQoS, Inc. Austin 3,347
8 Zilliant, Inc. Austin 3,294
9 PreCash, Inc. Houston 3,158
10 Webxites, LP Houston 3,034
11 Convio, Inc. Austin 2,493
12 Infoglide Software Corporation Austin 2,082
13 Citadel Security Software Inc. Dallas 1,674
14 Pinnacle Technical Resources, Inc. Dallas 1,296
15 GENBAND, Inc. Plano 1,253
16 The Planet.Com Internet Services, Inc. Dallas 1,248
17 SigmaTel, Inc. Austin 1,231
18 INX, Inc. Houston 1,029
19 Medical Present Value, Inc. Austin 964
20 PFSweb, Inc. Plano 944
21 DataCert, Inc. Houston 902
22 HRsmart, Inc. Richardson 825
23 e-Rewards, Inc. Dallas 816
24 Encore Medical Corporation Austin 771
25 FuelQuest, Inc. Houston 757
26 Myriad Development, Inc. Austin 740
27 QuantumDirect, Inc. Austin 710
28 ObjectWin Technology, Inc. Houston 705
29 Goodman Networks, Inc. Farmers Branch 614
30 RamQuest Software, Inc. Plano 606
31 e-MDS Austin 573
32 Network International, Inc. Houston 487
33 Builder Homesite, Inc. Austin 480
34 Silicon Laboratories Inc. Austin 475
35 Paymetric, Inc. Houston 459
36 Rackspace Managed Hosting San Antonio 406
37 Resulte Universal Dallas 394
38 Perficient, Inc. Austin 375
39 MapFrame Corporation Dallas 356
40 Accudata Technologies Allen 353
41 True Automation, Inc. Plano 325
42 Glow Networks, Inc. Richardson 319
43 Hyphen Solutions, Ltd. Addison 294
44 Accuro Healthcare Solutions, Inc. Dallas 291
45 Data Management, Inc. San Angelo 272
46 Multimedia Games, Inc. Austin 232
47 SiteStuff, Inc. Austin 225
48 Datamatic, Ltd. Plano 204
49 ArthroCare Corporation Austin 173
50 VirTex Assembly Services, Inc.
Austin 169
The Technology Fast 50 program is presented by Deloitte & Touche USA LLP, in association with CRESA Partners, HumCap, Merrill Lynch, NASDAQ and Gardere.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche
Gruß
Trading Spotlight
Moin
PUZ würde ich mir mal anschauen ..
Gruss Cure
PUZ würde ich mir mal anschauen ..
Gruss Cure
Zu Impera: Beteiligung Wige-Media
Neu auf der Watchlist: Wige Media
Nachdem die Klicktel nun wie vermutet zum 30.09.2006 mit 0,35 Mio. Euro zum Börsenkurs abgewertet wurde, bleibt die spannende Frage, was aktuell bei der 5 % Beteiligung Wige-Media im Kurs gespielt wird. Der Abwärtstrend auf jetzt unter 1,5 Euro spiegelt gerade eine Marktkapitalisierung von 8-9 Mill. Euro wieder.
Sollten also die neuen Investoren ACM und Impera hier falsch liegen oder handelt es sich um Einstiegskurse?
Beobachten ist angesagt.
Gruß
Neu auf der Watchlist: Wige Media
Nachdem die Klicktel nun wie vermutet zum 30.09.2006 mit 0,35 Mio. Euro zum Börsenkurs abgewertet wurde, bleibt die spannende Frage, was aktuell bei der 5 % Beteiligung Wige-Media im Kurs gespielt wird. Der Abwärtstrend auf jetzt unter 1,5 Euro spiegelt gerade eine Marktkapitalisierung von 8-9 Mill. Euro wieder.
Sollten also die neuen Investoren ACM und Impera hier falsch liegen oder handelt es sich um Einstiegskurse?
Beobachten ist angesagt.
Gruß
Antwort auf Beitrag Nr.: 25.035.907 von HSellsch am 31.10.06 14:48:51Impera Total Return: Ergebnis in line mit Erwartungen. Allerdings fehlt der Ausblick!
31.10.2006 14:31
DGAP-News: Impera Total Return AG weist nach neun Monaten Gewinn von 2,14 EUR je Aktie aus
Impera Total Return AG / Quartalsergebnis
31.10.2006
Corporate News übermittelt durch die DGAP - ein Unternehmen der EquityStory AG. Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
Impera Total Return AG weist nach neun Monaten Gewinn von 2,14 EUR je Aktie aus Dividendenzahlung für Geschäftsjahr 2006 geplant
Frankfurt, 31. Oktober 2006 - Die auf Private-Equity-Investments und Corporate-Finance-Beratung spezialisierte Impera Total Return AG erzielte in den ersten neun Monaten des laufenden Geschäftsjahres nach vorläufigen Berechnungen einen Jahresüberschuss von 3.115 TEUR nach 729 TEUR im entsprechenden Vorjahreszeitraum. Bezogen auf die Aktienanzahl, die sich mit der Anfang Juli abgeschlossenen Kapitalerhöhung aus Gesellschaftsmitteln auf 1.452.000 Stück verdoppelte, erhöhte das Frankfurter Unternehmen den Gewinn von 0,50 EUR auf 2,14 EUR.
Die ursprünglich für das Gesamtjahr 2006 getroffene Prognose, den Nettogewinn des Vorjahres von 0,77 EUR je Aktie zu verdoppeln, wurde damit nach drei Quartalen bereits deutlich übertroffen. Gemäß des strategischen Total-Return-Ansatzes plant der Vorstand deshalb, 2007 erstmals eine Dividende an die Aktionäre auszuschütten, und wird der Hauptversammlung einen entsprechenden Vorschlag unterbreiten.
Weiterentwicklung des langfristigen Portfolios
Von Juli bis September 2006 wies die Gesellschaft einen Gewinn von 222 (Q3 2005: 288) TEUR aus - obwohl der Wert einer Gesellschaft aus dem Impera-Beteiligungsportfolio vorsorglich auf den Börsenkurs per 30.9. abgeschrieben wurde. Entsprechend der Situation am Kapitalmarkt konzentriert sich die Gesellschaft derzeit vor allem auf den Ausbau und die Stärkung des langfristigen Portfolios und Corporate-Finance-Mandate. Insgesamt beliefen sich in den ersten neun Monaten 2006 die Erträge aus Wertpapieren auf 4.039 (Q1-Q3 2005: 557) TEUR, die Umsatzerlöse lagen bei 325 (Q1-Q3 2005: 551) TEUR. Daraus ergibt sich eine Gesamtleistung von 4.364 (Q1-Q3 2005: 1.108) TEUR nach 3.501 TEUR zum Halbjahr.
Solide Vermögenslage
Auch das finanzielle Fundament der Impera Total Return AG ist äußerst solide: Am 30.9.2006 beliefen sich die Eigenmittel auf 6.522 (31.12.2005: 3.399) TEUR. Bezogen auf die Bilanzsumme von 11.340 (31.12.2005: 7.748) TEUR errechnet sich daraus eine Eigenkapitalquote von 57,5 % nach 43,9 % zum Jahresende 2005. Das Eigenkapital je Aktie lag am Stichtag bei 4,49 EUR.
Impera Total Return AG: Die Impera Total Return AG mit Sitz in Frankfurt am Main ist in den Bereichen Corporate Finance und Private Equity tätig. Schwerpunkte der Beratungsleistungen sind Wachstums-, Umplatzierungs- und Restrukturierungsprojekte sowie alle anderen Kapitalmarkttransaktionen privater und institutioneller Investoren. Beim Erwerb, der Verwaltung und Verwertung von Unternehmen und Beteiligungen stehen kapitalmarktnahe sowie börsennotierte Small und Mid Caps im Fokus. Aufgrund eines internationalen Netzwerks kann die Impera Total Return AG auch Co-Investments arrangieren, die beträchtliche finanzielle Mittel erfordern. Im Geschäftsjahr 2005 erwirtschaftete die Gesellschaft einen Umsatzerlös von 1.031,7 TEUR, die Gesamtleistung lag bei 1.773,7 TEUR. Der Jahresüberschuss belief sich auf 1.121,1 TEUR, was einem Gewinn von 0,77 EUR je Aktie im rechnerischen Nennwert von 1,25 EUR entspricht (Basis: 1.452.000 Aktien). Die Aktie wird an den Wertpapierbörsen Frankfurt, Berlin-Bremen und Hamburg im Open Market (Freiverkehr) gehandelt. Kontakt:
Günther Paul Löw, Vorstand Impera Total Return AG, Tel.: 069 742277-22, E-Mail: info@impera.de, www.impera.de
DGAP 31.10.2006
(END) Dow Jones Newswires
October 31, 2006 08:31 ET (13:31 GMT)
Gruß
31.10.2006 14:31
DGAP-News: Impera Total Return AG weist nach neun Monaten Gewinn von 2,14 EUR je Aktie aus
Impera Total Return AG / Quartalsergebnis
31.10.2006
Corporate News übermittelt durch die DGAP - ein Unternehmen der EquityStory AG. Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
Impera Total Return AG weist nach neun Monaten Gewinn von 2,14 EUR je Aktie aus Dividendenzahlung für Geschäftsjahr 2006 geplant
Frankfurt, 31. Oktober 2006 - Die auf Private-Equity-Investments und Corporate-Finance-Beratung spezialisierte Impera Total Return AG erzielte in den ersten neun Monaten des laufenden Geschäftsjahres nach vorläufigen Berechnungen einen Jahresüberschuss von 3.115 TEUR nach 729 TEUR im entsprechenden Vorjahreszeitraum. Bezogen auf die Aktienanzahl, die sich mit der Anfang Juli abgeschlossenen Kapitalerhöhung aus Gesellschaftsmitteln auf 1.452.000 Stück verdoppelte, erhöhte das Frankfurter Unternehmen den Gewinn von 0,50 EUR auf 2,14 EUR.
Die ursprünglich für das Gesamtjahr 2006 getroffene Prognose, den Nettogewinn des Vorjahres von 0,77 EUR je Aktie zu verdoppeln, wurde damit nach drei Quartalen bereits deutlich übertroffen. Gemäß des strategischen Total-Return-Ansatzes plant der Vorstand deshalb, 2007 erstmals eine Dividende an die Aktionäre auszuschütten, und wird der Hauptversammlung einen entsprechenden Vorschlag unterbreiten.
Weiterentwicklung des langfristigen Portfolios
Von Juli bis September 2006 wies die Gesellschaft einen Gewinn von 222 (Q3 2005: 288) TEUR aus - obwohl der Wert einer Gesellschaft aus dem Impera-Beteiligungsportfolio vorsorglich auf den Börsenkurs per 30.9. abgeschrieben wurde. Entsprechend der Situation am Kapitalmarkt konzentriert sich die Gesellschaft derzeit vor allem auf den Ausbau und die Stärkung des langfristigen Portfolios und Corporate-Finance-Mandate. Insgesamt beliefen sich in den ersten neun Monaten 2006 die Erträge aus Wertpapieren auf 4.039 (Q1-Q3 2005: 557) TEUR, die Umsatzerlöse lagen bei 325 (Q1-Q3 2005: 551) TEUR. Daraus ergibt sich eine Gesamtleistung von 4.364 (Q1-Q3 2005: 1.108) TEUR nach 3.501 TEUR zum Halbjahr.
Solide Vermögenslage
Auch das finanzielle Fundament der Impera Total Return AG ist äußerst solide: Am 30.9.2006 beliefen sich die Eigenmittel auf 6.522 (31.12.2005: 3.399) TEUR. Bezogen auf die Bilanzsumme von 11.340 (31.12.2005: 7.748) TEUR errechnet sich daraus eine Eigenkapitalquote von 57,5 % nach 43,9 % zum Jahresende 2005. Das Eigenkapital je Aktie lag am Stichtag bei 4,49 EUR.
Impera Total Return AG: Die Impera Total Return AG mit Sitz in Frankfurt am Main ist in den Bereichen Corporate Finance und Private Equity tätig. Schwerpunkte der Beratungsleistungen sind Wachstums-, Umplatzierungs- und Restrukturierungsprojekte sowie alle anderen Kapitalmarkttransaktionen privater und institutioneller Investoren. Beim Erwerb, der Verwaltung und Verwertung von Unternehmen und Beteiligungen stehen kapitalmarktnahe sowie börsennotierte Small und Mid Caps im Fokus. Aufgrund eines internationalen Netzwerks kann die Impera Total Return AG auch Co-Investments arrangieren, die beträchtliche finanzielle Mittel erfordern. Im Geschäftsjahr 2005 erwirtschaftete die Gesellschaft einen Umsatzerlös von 1.031,7 TEUR, die Gesamtleistung lag bei 1.773,7 TEUR. Der Jahresüberschuss belief sich auf 1.121,1 TEUR, was einem Gewinn von 0,77 EUR je Aktie im rechnerischen Nennwert von 1,25 EUR entspricht (Basis: 1.452.000 Aktien). Die Aktie wird an den Wertpapierbörsen Frankfurt, Berlin-Bremen und Hamburg im Open Market (Freiverkehr) gehandelt. Kontakt:
Günther Paul Löw, Vorstand Impera Total Return AG, Tel.: 069 742277-22, E-Mail: info@impera.de, www.impera.de
DGAP 31.10.2006
(END) Dow Jones Newswires
October 31, 2006 08:31 ET (13:31 GMT)
Gruß
Antwort auf Beitrag Nr.: 25.035.308 von HSellsch am 31.10.06 14:21:11Hat sich gerade erledigt !
@Kleiner Chef,
kannst du mir sagen, wann bei Impera der nächste Quartalsbericht ansteht ?
Auf deren Homepage habe ich nichts gefunden.
Vielen Dank
HSellsch
kannst du mir sagen, wann bei Impera der nächste Quartalsbericht ansteht ?
Auf deren Homepage habe ich nichts gefunden.
Vielen Dank
HSellsch
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