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Gaming Partners International Corporation Message Board

  • themostbudge themostbudge Mar 7, 2007 2:28 PM Flag

    #'s Float and make money

    new rfid chips ....Macau......30 soon but 25 sooner
    IGOT THE GPIC STICK!!!!!!!!!!!!!!!!

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    • I ran my earnings spreadsheet for GPIC for Q4 and Q1(07) and am estimating the following:

      Q4 results (estimated):
      Rev = 21.6M (vs 16.2M in Q4-05)
      Gross Profit = 8.59M (vs 6.30M in Q4-05)
      Op Inc = 3.89M (vs 1.42M in Q4-05)
      Net Inc = 2.96M (vs 2.04M in Q4-05)
      EPS = $0.36 (vs $0.25 in Q4-05)
      The main variable in this last year was a phantom "income tax benefit" of +0.45M, typically this is -0.25M to -0.75M.
      3Q04 we also had a benefit. As far as I could tell this is due to checks/balances from French taxes in escrow?. I didn't include this in Q406, I had a conservative guess of an expense of -1.0M (about the max recently). I did the same for Q107.

      Q1 results (estimated):
      Rev = 22.9M (vs 18.3M in Q1-06)
      Gross Profit = 9.77M (vs 7.74M in Q1-06)
      Op Inc = 4.94M (vs 3.40M in Q1-06)
      Net Inc = 3.97M (vs 2.08M in Q1-06)
      EPS = $0.49 (vs $0.25 in Q1-06)

      Main driver for this is increased sales in Asia.
      I'm estimating the following Asian sales:
      Q107 (est) = 13.15M (just added a small amt to Q4 to be conservative)
      Q406 (est) = 12.65M (trying to follow a trend?)
      Q306 (act) = 11.47M
      Q206 (act) = 9.36M
      Q106 (act) = 8.52M
      Q405 (act) = 7.49M
      Q305 (act) = 5.36M

      I did a P/E range study on trailing 4 qtrs and found in the last 6 months we've been in the 18-28 range. Forecasting earnings with this P/E range, GPIC share price should be $18-28 in Apr-May 07 and then $22.5-35 in May-Aug 2007. So my 6-mo target is about $34 and 12-mo is about $42, but we need to have continued strong Asian sales or a large uptick in US sales. HF-RFID is the key variable to this strength in sales.

    • Well, swing away, I deserve it.

 
GPIC
8.24+0.02(+0.24%)Apr 16 1:46 PMEDT

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