
http://delcam.com/index.asp
Delcam achieves record half-year sales
http://delcam.com/news/press_article.asp?releaseId=1418
Delcam are proving that a company can thrive as a supplier to the manufacturing sector. Delcam's specialist design software is used by manufacturers designing footwear to false teeth.
Delcam has done this with considerable success. In 1998, Delcam reported record sales of £13.7m. Turnover has since increased year-on-year to reach £41.9m for 2011.
This morning Delcam announced interim results. The company reported an increase of 15% in sales. This flowed through to a 77% rise in earnings per share (eps) and a massive 43% uplift in dividend.
The eps at Delcam is expect to increase 12.4% for 2012, to be followed by a 10.3% advance again in 2013. This means that the shares currently trade on 16.2 times the 2012 forecast. However, if the split in earnings between the first and second half in 2011 is matched in 2012, then there is the real possibility of a substantial upgrade in profit forecasts.
Delcam has proved its business model can thrive even in recessionary conditions. As such, it probably deserves a premium rating
