Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

Q4/2015

- Umsätze in Q4/15 = 36,5 Millionen

- Positiver operativer Cash Flow in Q4/15


Ausblick auf 2016

- Umsätze in 2016 = zwischen 170 und 175 Millionen

- Operativer Cash Flow = zwischen 25 and 30 Miilionen and alle vier Kernbeteiligungen mit einem positiven operativen Cash Flow
 

basieren auf den vorhergehenden Quartalszahlen und den Inhalten meiner vielen Postings zu den vier Kernbeteiligungen seit dem letzten Quartalsbericht.

Entwicklung der Quartalsumsätze von Actua

Q1/13 = 12,0 Millionen
Q2/13 = 13,5 Millionen
Q3/13 = 16,1 Millionen
Q4/13 = 17,7 Millionen
Q1/14 = 18,4 Millionen
Q2/14 = 19,0 Millionen
Q3/14 = 19,0 Millionen
Q4/14 = 26,6 Millionen
Q1/15 = 30,6 Millionen
Q2/15 = 33,5 Millionen
Q3/15 = 34,1 Millionen

Die Umsatzentwicklung ist das Ergebnis vor organischem und zugekauftem Wachstum, wobei die Zukäufe ausschließlich aus dem eigenen Cash Flow, der vor allem aus dem Verkauf entwickelter Unternehmensteile entstand, erfolgte.

This is the result of organic and bought growth, but the bought growth was financed only with the own cash - debts was not made.
 

Umsatzschätzungen für Q4/2015 und für die Umsatzvorschau für 2016 waren die bei der letzten Präsentation veröffentlichten Wachstumsraten für die vier Kernbeteiligungen.


VelocityEHS: Revenue Growth: 34% in Q3 2015 compared to Q3 2014

Govdelivery: Revenue Growth: = 29% in Q3 2015 compared to Q3 2014

Bolt: Revenue Growth = 16% in Q3 2015 compared to Q3 2014

Revenue Growth of Foliodynamix: 15% in Q3 2015 compared to Q3 2014

Quelle: Letzte Presentation auf actua.com  

15 Biggest Insitutionals - Last Update

Owner Name

Date

Shared Held

Change (Shares)

Change (%)

Value (in 1,000s)

FMR LLC 12/31/2015 6,122,912 0 0.00 46,779
PEMBROKE MANAGEMENT, LTD 12/31/2015 3,443,415 (484,500) (12.34) 26,308
CAPITAL WORLD INVESTORS 12/31/2015 2,602,000 0 0.00 19,879
VANGUARD GROUP INC 12/31/2015 2,582,894 51,889 2.05 19,733
DIMENSIONAL FUND ADVISORS LP 12/31/2015 2,342,534 59,713 2.62 17,897
BANK OF MONTREAL /CAN/ 12/31/2015 1,941,551 194,719 11.15 14,833
BLACKROCK INSTITUTIONAL TRUST COMPANY, N.A. 12/31/2015 1,078,581 17,302 1.63 8,240
BLACKROCK FUND ADVISORS 12/31/2015 1,060,280 49,598 4.91 8,101
POLAR ASSET MANAGEMENT PARTNERS INC. 12/31/2015 1,031,096 38,796 3.91 7,878
RICE HALL JAMES & ASSOCIATES, LLC 12/31/2015 993,399 391,440 65.03 7,590
GOLDMAN CAPITAL MANAGEMENT INC 12/31/2015 891,000 165,000 22.73 6,807
STATE STREET CORP 12/31/2015 693,922 12,203 1.79 5,302
EMERALD ADVISERS INC/PA 12/31/2015 539,737 0 0.00 4,124
NORTHERN TRUST CORP 12/31/2015 434,473 3,742 .87 3,319
CORTINA ASSET MANAGEMENT, LLC 12/31/2015 420,586 69,276 19.72 3,213

Read more:.nasdaq/symbol/acta/institutional-holdings#ixzz40X9PhrVY
 

unter 7926 lieferte u.a. auch die folgende Infografik:

http://actua.com/wp-content/uploads/2016/01/2015-Infographic-FINAL.pdf
 

I appeal at the analyst to ask in the question-answer-session at Monday after the value of the 9%on Anthem Venture, which owning Acuta (former Internet Capitasl) since more than 15 years.

The value of this 9% on Anthem Venture Fund is after my estimates between 20 and 50 million.

Anthem Venture - Active Portfolio

We invest primarily in early stage Series A and B technology companies. Our typical deal size is initial investment between $1,000,000 and $5,000,000 with reserve for follow-on investments. We are active investors who almost always lead or co-lead and take a board seat. Our focus is primarily on Southern California investments.

So what makes us unique? We take every investment very personally. We fight to the death for our founders and our companies. We are not building a portfolio, we are building relationships with founders who want to do big things. If we invest in 10 deals we expect all 10 to work. We take losses as hard as you do. We try to work as hard as the successful entrepreneurs we’re fortunate to work with and we tend to be the go-to guys to support our founders when things are going wrong.

We’re always looking for that unique blend of talents that we think define a true entrepreneur. We are contrarian investors who look at under the radar opportunities and stay away from areas we think are crowded.

Active Portfolio

- Audyssey
- Big Frame
- Blurb
- Card
- Cyvenio
- Designer House
- GLOSSI
- indie
- Interset
- janrain
. Layer
. The Lucky Group
- meez
- Madefire
- New Hound
- PANNA
- pricelook
- PRISM SKYLABS
- schopy
- Spin Media
- Stack IQ
- SURFAIR
- TRUECar






























































Actua owning 9% of Anthem Venture since near 20 years - Anthem Venture had get a lot of cash

anthemvp.com/anthem_company/

TrueCar, Inc. (TRUE)  Market Cap: 798.75M
Anthem Venture owning 5,860,201 shares of True Car #
Never was published the number of shares, which Anthem holding today or had sold.

Entropic Communications, Inc. (ENTR) -NasdaqCM 
Market Cap:
285.64M
Public symbol: ENTR
Never was published the number of shares, which Anthem holding today or had sold.

Ocata Therapeutics, Inc. (OCAT) -NasdaqGM
Market Cap:
356.59M
Never was published the number of shares, which Anthem holding today or had sold.

Vuvox brought Cash for Anthem Venture
Aquired by: Ebay

TROIKA brought Cash for Anthem Venture
Acquired by: QLOGIC

Siperian brought Cash for Anthem Venture
Acquired by Informatica

RF Magic brought Cash for Anthem Venture
Acquired by Entropic

Plixi brought Cash for Anthem Venture
Acquired by: Lockerz

Planet A.T.E. brought Cash for Anthem Venture
Acquired by: Intersil

Teradyne brought Cash for Anthem Venture
Acquired by: Teradyne

NevenVision brought Cash for Anthem Venture
Acquired by: Google

Dot Wireless brought Cash for Anthem Venture
Acquired by: Texas Instruments

Corus Phamt brought Cash for Anthem Venture
Acquired by: Gilead Sciences

Cognet brought Cash for Anthem Venture
Acquired by: Intel

Axiom brought Cash for Anthem Venture
Acquired by: Skyworks

Android brought Cash for Anthem Venture
Acquired by: Google


 

gemacht haben:

Actua owning 9% of Anthem Venture since near 20 years - Anthem Venture had get a lot of cash

anthemvp.com/anthem_company/


TrueCar, Inc. (TRUE)  Market Cap: 798.75M
Anthem Venture owning 5,860,201 shares of True Car #
Never was published the number of shares, which Anthem holding today or had sold.

Entropic Communications, Inc. (ENTR) -NasdaqCM 
Market Cap:
285.64M
Public symbol: ENTR
Never was published the number of shares, which Anthem holding today or had sold.

Ocata Therapeutics, Inc. (OCAT) -NasdaqGM
Market Cap:
356.59M
Never was published the number of shares, which Anthem holding today or had sold.

Vuvox brought Cash for Anthem Venture
Aquired by: Ebay

TROIKA brought Cash for Anthem Venture
Acquired by: QLOGIC

Siperian brought Cash for Anthem Venture
Acquired by Informatica
.

RF Magic brought Cash for Anthem Venture
Acquired by Entropic

Plixi brought Cash for Anthem Venture
Acquired by: Lockerz

Planet A.T.E. brought Cash for Anthem Venture
Acquired by: Intersil

Teradyne brought Cash for Anthem Venture
Acquired by: Teradyne

NevenVision brought Cash for Anthem Venture
Acquired by: Google

Dot Wireless brought Cash for Anthem Venture
Acquired by: Texas Instruments

Corus Phamt brought Cash for Anthem Venture
Acquired by: Gilead Sciences

Cognet brought Cash for Anthem Venture
Acquired by: Intel

Axiom brought Cash for Anthem Venture
Acquired by: Skyworks

Android brought Cash for Anthem Venture
Acquired by: Google


 

an denen Actua nur eine Minderheitsbeteiligung hält.


Case Study: Hospital Increases Online Payment Transactions by 143% in Four Months with InstaMed

Background of Rockford Memorial Hospital
Rockford Memorial Hospital is a 396-licensed bed healthcare facility in Rockford, Illinois. Since its opening in 1885, the hospital has been dedicated to delivering superior care every day, to every patient.

“Our patients are so happy with InstaMed payments in MyChart that they have told me that they are excited to visit the website and have everything in one place.”
– Jim Dove, Healthcare Application Analyst, Rockford Memorial Hospital
ROCKFORD MEMORIAL HOSPITAL’S STORY:

THE CHALLENGES:
Like many other healthcare providers, Rockford Memorial Hospital is seeing a dramatic increase in payment responsibility among their patients due to an increase in high-deductible health plan enrollment.
Originally, to meet this growing need, Rockford worked with an outside payment vendor to enable patients to pay their responsibility online following their visit. However, with this vendor, Rockford faced three recurring challenges:

Adoption Increases by 143% in the First Four Months
After integrating InstaMed payments in MyChart, Rockford was able to offer patients an enhanced online payment experience with more payment methods, including eCheck and the ability to easily pay from a mobile device. In the first four months, patients making payments to Rockford increased by 143% in MyChart.
“Since integrating InstaMed payments in MyChart, we are seeing daily growth in the traffic to MyChart and significant increases in online payments. I believe this success is due to how easy it is for patients to use and how accessible it is from any device, including a smartphone or tablet. Patients have actually told me that they were excited to make online payments in MyChart,” said Jim Dove.
 

http://www.instamed.com/case_study/...3-in-four-months-with-instamed/  

an denen Actua nur eine Minderheitsbeteiligung hält.

Parchment Named Top Product by University Business Magazine

Posted on January 4, 2016 by Tami Nealy
University Business Magazine is the most widely received and most regularly read publication for higher education leaders at two- and four-year colleges universities nationwide and has once again recognized Parchment as a “Reader’s Choice Top Product.” Parchment was recently recognized for making a positive difference on college campuses by higher ed leaders who named the Parchment services as a top product.

This is the second time in two years Parchment has been recognized by University Business readers. In 2013, Parchment was also recognized by University Business as a “Reader’s Choice Top Product.”

Hundreds of product nominations for top products were submitted by top higher ed leaders and the selection of products was determined by those that enhance learning across the country. The University Business Reader’s Choice Top Products award program informs higher ed leaders about products their colleagues around the country are using to help their campuses excel in a variety of areas, such as technology, sustainability and academic instruction. L
 

The company had a very strong Q3/15 with 29% revenue growth compared to Q3, 2014, along with strong pipeline momentum

GovDelivery closed 63 new deals with the government organizations this quarter and new signings included 6 of the 17 program opportunities we had in the pipeline, there is an additional 11 program deals in the pipeline at the end of the quarter. And even with a strong quarter of closed deals, GovDelivery’s pipeline remained 15% higher that it was at the end of Q2 and we typically see strong pipeline growth in the fourth quarter.

And the company’s ability to help clients grow their digital audience through the GovDelivery network continues to gain traction, adding to its already strong and compelling competitive advantage.

Importantly, in Q3 the company demonstrated its ability to drive significant cross-sell and up-sells within the government GovDelivery client base. Today we are now cross selling, learning solutions, sophisticated techs and capabilities acquired through the Textizen acquisition and three open data management capabilities added to the new Civic [ph] acquisition last year. More than 20 of these cross-sell deals closed in Q3, up dramatically from the past several quarters
 

Letzter Conference Call im November auf Seeking Alpha, der darauf hindeutet, dass Govdelivery sein hohes Wachstumstempo in Q4/15 gehalten hatben dürfte und weteere Bausteine für die Beibehaltung dieses hohen Wachstums gesetzt haben dürfte.  

Last year was one of great momentum for civic tech. We saw more people and resources than ever enter the space, garnering interest from startups, corporations, government agencies and investment firms. Kicking off 2016, civic tech is a fast-growing field with tangible potential to improve the relationship between citizens and government.
From early stage funding to completed exit strategies, today’s civic tech companies have more funding opportunities than ever. A growing number of acquisitions are proving that civic tech is a viable field, attracting real interest from investors and entrenched companies.
A prime example of this kind of investment in civic tech comes from GovDelivery, the 15-year-old digital communication platform for government. Recognizing over the last several years the need for more cloud-based, user-centered tools, the company acquired NuCivic and Textizen in an effort to create more points of access between citizens and government.
These types of acquisitions will enable GovDelivery to deploy civic tech that better fits government and citizen needs. And combining forces with civic tech startups is part of a strategy that propelled the company to its strongest year ever in 2015, with 100 million subscribers and an estimated record revenue of $35 million.
In forecasting for the year ahead, 2016 will likely see this virtuous cycle of investment continue to grow — an estimated $285 million was raised in capital for U.S. civic tech companies in 2015 (according to Omidyar Network’s internal analysis using database PitchBook. Omidyar Network researchers identified 23 companies as related to civic tech and totaled investment capital raised in 2015). For the greater civic tech movement, this influx of funding enables civic tech companies to scale more quickly and reach more people, which, in turn, will grow acquisition opportunities and strengthen investor confidence in the field overall. - 2016 can be a watershed year for the sector.

http://techcrunch.com/2016/02/07/...e-pillars-for-civic-tech-success/
 

relativ weit entwickelten Stadien mit Govdelivery geschehen.

In früheren Zeiten bei Internet Capital hätte jetzt ein Exit zur Diskussion gestanden - wenn auch vielleicht erst in weiteren ein oder zwei Jahren.

Bei der Actua von heute werden die Anleger aber über das zukünftige Vorgehen hinsichtlich Exits (noch) im Unklaren gelassen - das ist meines Erachtens auch der Hauptgrund für die in meinen Augen extreme Unterbewertung der Aktien. Denn es wurde bisher kein Sterbenswörtchen darüber gesagt, ob man noch ein auf vertikale Cloud-Unternehmen spezialisierter Inkubator ist oder ein normaler Cloud-Anbieter werden will, der sich ausschließlich auf die vertikale Cloud spezialisiert.

Meines Erachtens will man den Inkubator-Status nicht völlig aufgeben will aber bzw. muss die Unternehmens in sehr viele reifere Stadien hineinentwickeln, als man das früher getan hat. IPO's  als Exits erfordern nämlich inzwischen sehr viel höhere Umsätze als früher. Govdelivery müsste z.B. seinen Umsatz m.E. verdoppeln oder noch besser verdreifachen bis ein IPO möglich wäre - ansonsten bleiben nur Verkäufe an größere Unternehmen oder Private Equity.  

The analysts should ask in the question-answer-session at Monday, if Actua is an incubator for vertical cloud companies or will go the way to a normal vertical cloud company, which don’t want sell the developed companies.

The not existing security about this never answered question is the reason for the extreme undervalue of Actua.
 

Market-Cap of Salesforce is about 1,160% of the Book-Value of Salesfore – the 16-fold of the 72% of Actua

Market-cap of Actua with 287 million only 72% of the Total Stockholder Equity of 399 Million of Actua.

Balance Sheet of Salesforce (CRM) -NYSE
All numbers in thousands
Period Ending Jan 31, 2015 Jan 31, 2014 Jan 31, 2013
Total Stockholder Equity 3,975,183 3,038,510 2,317,633  

Über Amazon konnte man in einer der letzten Ausgaben von Euro am Sonntag lesen: "Unterm Strich verdiente der Konzern gerade einmal 600 Millionen: Grund: Amazon-Chef Jeff Bezos investiert permanent Milliarden in neue Geschäftsfelder."

Ähnlich geht Actua vor, auch wenn man sich da nur im Millionenbereich bewegt: Der komplette operative Cash Flow und noch etwas von der immer noch üppigen Cash wird in die Entwicklung der vier Core-Beteiligungen gesteckt.

Aber während bei Amazon das zu steigenden Kursen führt, wird Actua für diese nachhaltige Strategie von der Börse abgestraft - und das obwohl sie so schnell wachsen wie Amazon

Wenn die nackten Shortseller eindecken (müssen), was schon nach der Bekanntgabe der Quartalsergebnisse am Montag der Fall sein könnte, wird nach meiner Einschätzung der Kurs springen - ob gleich über 10 Dollar, hängt von den Quartalsergebnissen und dem Ausblick ab.

 

Velocity had another strong quarter, reporting 34% revenue growth. The company continued to add to its customer base close to over 11,000 organizations, signing 577 new customers this quarter, 15% higher than Q3 a year ago.

We're also excited about what we're seeing with our Internet Management Solution, KMI. KMI had a very strong quarter signing 14 customers in Q3, the same number as KMI signed in the first half of the year.

Consistent with the market interest we saw this quarter, pipeline growth is slightly ahead of revenue growth and is key towards larger platform customers. We experienced significant pipeline momentum across the board with our cross-sell teams seeing increased activity, especially as it relates to KMI.

We continue to broaden our footprint in this space during the quarter opening a new office to serve Australia and New Zealand markets. And finally we released an enhanced mobile device scanner application for the MSDSonline Solution that improves in the field access and management of a chemical inventory and fake information.

Source. Transcript of Conference Call
 

February 2nd, 2016

2016 Predictions for the EHS Market from VelocityEHS CEO, Glenn Trout

This is the third blog post in our series on 2016 predictions for the vertical markets we serve (see parts 1 and 2). Below we look at what lies ahead for the Environmental, Health and Safety (EHS) market, through the eyes of Glenn Trout, CEO, VelocityEHS. The following are Glenn’s EHS predictions for 2016:

•GHS transition pressures continue: Glenn foresees that the GHS transition will continue to pick up steam in the second and third quarters of 2016 as the final adoption deadline hits on June 1, 2016 in the U.S.  In addition to this upcoming deadline, chemical suppliers that did not meet their 2015 deadlines will face even greater pressure, as they work to catch up to the transition timeline.

• Ever increasing regulatory scrutiny and transparency across the boards:  Glenn predicts that OSHA will publish a final rule to improve the tracking of workplace illness and injuries, which will modernize reporting requirements and lead to more companies being required to report injuries and illnesses on a more regular (annual or quarterly) basis.  In addition, Glenn predicts that OSHA will shift their focus to more complex inspections in 2016, which will allow inspectors to emphasize quality and thoroughness as opposed to quantity. He also predicts that safety management will see increased regulatory scrutiny following the catastrophic events in Tianjin, China in 2015 and elsewhere. And finally, he expects there to be increased pressure on companies to be more transparent in their EHS and sustainability reporting throughout their supply chain.

• Growing importance of mobile: As this macro trend helps to solve a real problem for the EHS industry, Glenn recognizes the growing importance of mobile devices for EHS customers and expects their reliance on them to continue to increase in 2016 and beyond. Mobile takes a once paper-based process and transforms it into an efficient, transparent and searchable solution that makes critical information accessible immediately from anywhere in the workplace. Glenn also predicts that mobile capabilities that place crucial chemical information at the fingertips of safety managers and first responders will become increasingly important and popular.

• Move towards more comprehensive and SaaS-based EHS solutions: In 2016, Glenn predicts that companies will continue their recent trend toward purchasing more comprehensive EHS solutions, to help address a complex and expanding list of EHS issues.   Additionally, Glenn predicts that companies will continue moving away from expensive, slow and clunky EHS implementation projects, opting instead for well-developed SaaS solutions that are easier and faster to implement, use and maintain.
 

VelocityEHS Strengthens Its EHS Platform with the Acquisition of Ergonomics Software
GlobeNewswire









Actua subsidiary VelocityEHS acquires ErgoAdvocate; terms not disclosed
Briefing.com 55 mins ago

CCBN 2 hrs 22 mins ago

CHICAGO, Feb. 29, 2016 (GLOBE NEWSWIRE) -- VelocityEHS, the leading cloud environmental, health, safety (EHS) and sustainability software provider, announced today that it is adding an ergonomic solution to its comprehensive EHS platform with the acquisition of ErgoAdvocate, a web-based system that empowers employees to prevent musculoskeletal disorders. With musculoskeletal disorders reported as some of the most common and costly work-related injuries, nearly every employer faces risks associated with ergonomic injuries suffered by its staff. The VelocityEHS Ergonomics solution provides expert online assessment and training so businesses can reach more employees at a lower cost than traditional consulting programs and decrease the expenses associated with worker injury.


According to OSHA, the total cost to an employer for just one cumulative trauma injury averages $82,305; additionally the typical Fortune 1,000 Company pays $1.3 million for every 1,000 employees in costs resulting from preventable ergonomics injuries. Ergonomics focuses on mitigating these costs by helping workers lessen muscle fatigue, increase productivity and reduce the number and severity of work-related musculoskeletal injuries. The VelocityEHS Ergonomics solution helps employers of all sizes reduce work related musculoskeletal disorders by identifying problems, providing training, and assisting employees in self-correcting issues.

“The acquisition of ErgoAdvocate extends our reach into the global EHS market and enables VelocityEHS to help businesses of all sizes meet a wider range of EHS issues. This full suite of simple ergonomics assessment and training tools complements our existing industry leading EHS cloud platform,” said Glenn Trout, president and CEO of VelocityEHS. “Companies want EHS software that helps them manage a range of complex challenges — we check that box with a solution that is quick to implement and provides the simplest user experience.”
 

Helping Chesapeake Energy drill down and provide ergonomics assistance to employees across the country.

The ErgoAdvocate on-line process management solution helped Chesapeake Energy and its one ergonomics specialist effectively reach out and provide advanced ergonomics services to a population of nearly 11,000 employees spread over 17 states.

Challenges
          §Large population – 11,000+ employees
          §Small staff – one person providing ergonomics services
          §Distributed locations spread across 17 states
          §Lots of travel required for ergonomic consultations

Solution Requirements
          §Must scale to serve entire enterprise
          §Must be web-based allowing anywhere anytime access
          §Must include Self-corrective advice so employees can make improvements on the spot
          §Must provide a platform and method to help staff reach out and provide remote assistance without traveling

Results with ErgoAdvocate
          §Participation in program has tripled
          §In 2012 served 330 employees at 22 sites, in 2013 served 1000 participants at 91 locations (yr-1)
          §In past, with manual service delivery, only able to reach about 25% of locations (22 sites) in a given year.
          §Now serving all employees at all locations (91 sites)
          §Travel time reduced by 75%

Chesapeake Energy is a leading producer of natural gas and oil in the United States and is headquartered
in Oklahoma City, OK. Chesapeake has been recognized as one of Fortune magazines top 100 workplaces
each year between 2008 and 2013. They have nearly 11,000 employees spread between the large
corporate headquarters campus in Oklahoma City and in field operations spread across 17 states.

http://cdn2.hubspot.net/hub/338885/...ffice-Ergonomics-Case-Study.pdf
 

“The acquisition of ErgoAdvocate extends our reach into the global EHS market and enables VelocityEHS to help businesses of all sizes meet a wider range of EHS issues. This full suite of simple ergonomics assessment and training tools complements our existing industry leading EHS cloud platform,” said Glenn Trout, president and CEO of VelocityEHS. “Companies want EHS software that helps them manage a range of complex challenges — we check that box with a solution that is quick to implement and provides the simplest user experience.”

The VelocityEHS Ergonomics solution will further strengthen the company’s single-point EHS management platform approach to controlling risk and managing EHS compliance. Current capabilities of the VelocityEHS Platform include incident management, audits and inspections, compliance management, corrective actions, management of change, chemical management, risk analysis, performance metrics and training management.

“We are excited to join VelocityEHS and bring our ergonomics solution to a wider customer base,” said Gene Kay, MS, CPE, managing partner of ErgoAdvocate. “While ergonomics is a key issue that plagues many of today’s office employees, most companies don’t have the resources or time to bring in a professional to evaluate and correct ergonomics issues affecting workers. The VelocityEHS Ergonomics solution gives employers the tools to efficiently and effectively correct ergonomics issues throughout the organization.”

For an infographic that outlines how ergonomics assessment and training software minimizes the risk of musculoskeletal disorders and reduces the costs associated with lost productivity and injury expenses, visit http://www.ehs.com/resources/...-papers-and-guides/ergo-infographic/.
 

Q4/2015

- Umsätze in Q4/15 = 36,5 Millionen

- Positiver operativer Cash Flow in Q4/15

Umsätze im Gesamtjahr 2015 = 134,7 Millionen


Ausblick auf 2016 (Guidance)

- Umsätze in 2016 = zwischen 170 und 174 Millionen

- Operativer Cash Flow = zwischen 23 und  27 Miilionen and alle vier Kernbeteiligungen mit einem positiven operativen Cash Flow  

günstige Kaufgelegenheiten.  

- zumindest nicht so, wie es die absurd niedrigen Kurse signalisieren, die den Weltuntergang antizipiert haben.

http://finance.yahoo.com/news/...s-fourth-quarter-full-213000751.html