Kavafian: AMA Turns Cash-Flow +ve :)AIRLINES & AEROSPACE 10 AUGUST 2009 (An Excerpt)
AEROMECHANICAL SERVICES LTD .
AMA-TSX: $0.24 — BUY
TARGET PRICE: $0.65; PROJECTED RETURN: 171%
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JACQUES KAVAFIAN 416.860.7797
jacques.kavafian@researchcapital.com
Susan Cheng ASSOCIATE 416.860.7648
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AEROMECHANICAL TURNS CASH-FLOW POSITIVE
EVENT – AEROMECHANICAL SECOND QUARTER RESULTS
• Installed 23 AFIRS units, above our estimate of 15 installations.
• Revenues grew to $1.3 million versus $0.6 million in Q2/F08.
• EBITDA loss of $(1.2) million, better than our expectations of
$(1.5) million, versus $(2.6) million for the same quarter last
year.
• Cash balance of $0.78 million, up $0.25 million from last quarter,
making this the first quarter in which the company generated
positive operating cash flows.
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For the full report:
https://www.howardgroupinc.com/clients/ama_research_aug1009.pdf