Quarterlies Top 5: RPM Automotive and De.mem lead the charge
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RPM Automotive is a parent company for several vehicle accessory outlets ranging from car tyres to motorbike helmets.
This morning the company announced a record quarterly performance, achieving revenues of $10.9 million and earnings of $2.3 million.
RPM Automotive is now forecasting full year revenue of $49.2 million – up from $34.1 million in FY20 and earnings of $4.7 million which is up from $34.1 million and $3.4 million respectively in FY20.
The company’s announcement was accompanied with an assertion it was still undervalued noting it traded at only 4.8 times FY21 forecast earnings, well below several of its peers.
“We believe there is a tremendous opportunity for significant shareholder value to be unlocked here as the market becomes more aware of RPM’s accomplishments,” managing director Clive Finkelstein said.
Shares rose as high as 30 per cent in early trading but by 11am had settled to 18 per cent higher.
This company is in the water and wastewater treatment industry – selling a filtering system where the water flows through a membrane and ensures only water molecules pass through.
Like RPM Automotive, De.mem declared the result was a quarterly record.
The company made it inaugural positive quarterly operating cashflow of $544,000 and made total cash receipts of $5.6 million. The latter figure was up 53 per cent from the September quarter.
It also reported that two acquisitions it made in late 2019, in Pumptech and Geutech (based in Tasmania and Germany respectively), were both paying off with robust demand.
Shares rose over 20 per cent today.
The New Zealand based merchants payments business only gave a trading update but it also showed positive momentum.
In Australia, revenues rose 35 per cent on the prior quarter and 75 per cent on the prior corresponding quarter last year.
New Zealand saw a more modest increase of 2 per cent but consolidated revenue across the two nations was up 18 per cent from the last quarter. The company declared that these results pointed to a more positive outlook in the coming months.
Shares rose nearly 10 per cent today.
This stock actually saw a modest decline (of 3 per cent) but is still up over 120 per cent in six months.
The medtech company, which sells portable x-rays, hasn’t really looked back since winning FDA approval six months ago.
Micro-X told shareholders it had built, shipped and invoiced $2 million of Mobile DR units (Nano and Rover) with customer receipts for the quarter reaching $1.6 million.
It also reminded shareholders of major deals this quarter including a US$4 million deal from the US Department of Homeland Security and a $1.3 million contract with the Australian Defence Force.
Who knew oysters were a good place to be at Christmas?
This company sold 2.4 million oysters in the December quarter, up 36 per cent on the prior corresponding period.
The company also reminded shareholders of its future ambitions – to double production capacity to 20 million oysters per annum and fishing capacity to 12 million per annum.
Shares rose by a modest 3 per cent this morning.