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Scientific Digital Imaging

  • BY: Andrew Hore |
  • POSTED: 25/07/2010 |

Digital imaging technology company Scientific Digital Imaging improved its profit last year but acquisitions remain the focus.

SDI’s products are used to analyse environmental and astronomy data.

In the year to April 2010, revenue increased 6% to £7.19m and pre-tax profit improved from £57,000 to £258,000. There was a swing from a forex gain in the previous year to a small loss last year. More than 90% of sales are outside of the UK.

Ken Ford has made his first share purchase since becoming chairman. He bought 75,000 shares at 27p each – a total cost of £20,250. 
Recently appointed house broker FinnCap forecasts an increase in profit to £338,000.

At 22p a share, SDI is valued at £3.96m. The shares are trading on less than six times prospective 2010-11 earnings.

Net cash was £340,000 at the end of April 2010 and this should increase by next April - but that depends on whether any acquisitions are made.

SDI needs to become larger in order to make the most of its quotation. It is still on the look out for acquisitions in what is a fragmented market. Price expectations have been unrealistic in the past but there are signs that there will be opportunities at realistic prices in the coming months. 

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