Recent Stock Performance
The stock price has more than doubled recently: For the 52 weeks ending 12/29/00, the stock of this company was up 422.5% to 26.75 p. During the past 13 weeks, the stock has increased 21.6%.
During the 12 months ending 3/31/00, earnings per share totalled 8.00 p per share. Thus, the Price / Earnings ratio is 3.34. These 12 month earnings are greater than the earnings per share achieved during the last fiscal year of the company, which ended in September of 1998, when the company reported earnings of -0.27 p per share.
This company is currently trading at 1,508.73 times sales. This company has negative book value (and thus a price to book value would not make any sense).
The market capitalization of this company is £116.78 million. Closely held shares (i.e., those held by officers, directors, pension and benefit plans and those shareholders who own more than 5% of the stock) amount to over 50% of the total shares outstanding: thus, it is impossible for an outsider to acquire a majority of the shares without the consent of management and other insiders. The capitalization of the floating stock (i.e., that which is not closely held) is £53.50 million.
Profitability Analysis
The company's earnings before interest, taxes, depreciation and amorization (EBITDA) were -£945,000.00 , or -1,220.9% of sales. This EBITDA margin is worse than the company achieved in 1997, when the EBITDA margin was equal to -58.5% of sales.
In 1998, earnings before extraordinary items at Sportech Plc were -£952,800.00 , or -1,231.0% of sales. This profit margin is lower than the level the company achieved in 1997, when the profit margin was -68.5% of sales.
Financial Position
At the end of 1998, Sportech Plc had negative working capital, as current liabilities were £292,640.00 while total current assets were only £152,220.00 . The fact that the company has negative working capital could indicate that the company will have problems in expanding. However, negative working capital in and of itself is not necessarily bad, and could indicate that the company is very efficient at turning over inventory, or that the company has large financial subsidiaries.
At the end of 1998, the company had negative common shareholder's equity of -£20.05 million. This means that at the present time, the common shareholders have essentially no equity in the company. This company's total liabilities are higher than total equity, which means that the money this company owes are greater than all of the assets of the company.
As of September 1998, the company's long term debt was £19.12 million and total liabilities (i.e., all monies owed) were £19.41 million.
This company has a large cash balance: in 1998, the company had only £77,400.00 in sales, but its cash and short term investments as of September 1998 were £125,080.00 , or 1.6 times the annual sales.
As of September 1998, the accounts receivable for the company were £27,140.00 , which is equivalent to 128 days of sales. This is sharply higher than at the end of 1997, when Sportech Plc had 52 days of sales in accounts receivable.
Company Description
Sportech Plc (formerly Rodime Plc) is engaged in the licensing and exploitation of its patents, pools promotion, internet gaming, telephone betting, lotteries and lottery management. The Group holds, maintains and continues to invest in several patents relating to disk drive and other storage system technology. Patent office covering digital servo (DSP) technology for data storage and retrieval. In addition, patent applications were filed in the European countries to register in DSP patents.ited Kingdoms' leading pools promoter, whose operations include football pools, spot the ball, telephone betting and internet gaming, lotteries and lottery management.
Competitor Analysis
Sportech Plc operates within the Miscellaneous industry, and the sub industry in which it operates is the Miscellaneous Companies sector. This analysis compares Sportech Plc with three other companies in the same sub industry in Western Europe: Firestone Diamonds plc (1998 sales of £21,851.28), Oxford BioMedica Plc (£50,002.00), and Keyware Technologies NV which is based in Belgium (3.77 million Belgian Francs
Sales Analysis
Sales fell dramatically in 1998: During the year ended September of 1998, sales at Sportech Plc were £77,400.00. This is a sharp decrease of 93.3% versus 1997, when the company's sales were £1.16 million.
The company currently employs 2. With sales of £77,400.00, this equates to sales of US$57,761 per employee. This is higher than the three comparable companies, which had sales between US$709 and US$1,964 per employee. Note that some of the figures stated herein could be distorted based on exact classification of employees and subcontractors.
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