Beauty, go baby, page-23

  1. jfc
    265 Posts.
    re: uec results (2003 is not yet assured) Hi Grant.

    in your marathon effort you might have hit the wall near the FLAWED EBITDA drink station.

    CEO McGrath's monthly sales outlook is explicitly "Excluding connection fee revenue".

    So you need to add connection fees to your $48m estimate.

    I'm confident that unknown will surpass this year's $5.6m. Maybe 20% of the $40m CapEx is a guide?

    Then there's this zinger. If it is an upfront payment then how can you defer it?

    "Uecomm did not bring to account an additional $6.0 million of billed revenue in 2002, in line with the company's policy of deferring the majority of revenue from large one-off upfront payments over the life of the contracts."

    Apparently by itemising it as deferred income liabilities (4.24, 4.30). Too deep for me. But maybe some of that loot will be undeferred soon?

    However there are a number of probable additions to $48m to help UEC make their sales and EBITDA targets.

    Onto slick accounting. UEC would be in deep shtuck if it tried postponing its Perth write down. But a la the UN, commitees love dragging contract signings and other things out at any cost. So what choice did UEC have? I far prefer this manouvre to frontloading.
 
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