Earnings next Tuesday Hope they have the complete financial reports released before they start the CC. Last quarter it seemed only the abbreviated press release was out when they started the CC. (Seems kind of disingenious to run a CC that way).
I haven't seen any OpenNet press releases since December 2012, hope the business has grown to the point it will cover the SingTel fees that kicked in this April, " Starting in April 2013, OpenNet’s operating costs will increase by the greater of $13.9 million per quarter or 75% of OpenNet’s eligible revenue. For the 12 month period beginning April 2013 the payment is expected to be SGD$55 million". Axia's share of OpenNet income was $3m last quarter, it needs to be more to cover this fee. The SingTel fee will be a definite drag on earnings going forward in 2013.
Covage needs to start really "kicking it" this year if Axia is to ever earn the $100m they will have invested in it this year. $3.3m of annual EBITDA doesn't really cut it. Jeez, would I love to see some surprisingly good news out of France for a change. It's gotten better but at a snails pace. (I believe escargot is pretty big in France).
By year end Axia will have spent $150m on networks. Current EV about $85m, I guess the market feels the money has been wasted, but if they ever stop spending shareholdres should be OK. I didn't think I invested in an oil and gas company that constantly had to replenish reserves. I mean once the fibre network is done just maintain the sucker and start paying some dividends to shareholders. (I guess I can dream).