Bluechiip Limited (BCT)
Views and News
On the Cusp of Commercialisation - See attached Report
The exponential growth of medical specimens requires increasing amounts of storage. The material is mostly kept in big freezers, in sealed vials and bags at -196 degrees Celsius. Precisely tracking and locating any required sample is critically important and may even be a life or death matter. Well over one billion bio-specimens are stored around the world, growing at 100-200 million samples annually.
These samples are tracked by labels (which can fall off or be tampered with) or by barcodes (which can’t be read through frost). New radio-frequency identification (‘RFID’) technologies can’t survive the low temperatures. Bluechiip Limited makes tiny and secure tags that can be moulded into the containers that store bio-specimens.
Clinical trials and bio-banking procedures have already stumbled over logistics failures so expensive that the cost of a 'bluechiip' is cheap indeed, while yet offering major potential for BCT shares.
Bluechiip is a commercially led company with development work apparently completed to exacting operating standards. This should be largely proven (or not) within the next few months by evaluation reports and potential orders from major users, which have been intimately involved in the evaluations.
If such orders are successfully won and executed, Bluechiip faces a large market in a focussed niche with a patented ‘third generation’ product and with low prospects of early response from existing competitors—which are outclassed in Bluechiip's initial cryogenic field. (Such competitors have plenty of other growth markets.) There is good potential for substantial sales with large margins compared with Bluechiip's market cap, yet small in effective ‘insurance’ and efficiency costs for the users.
Recent News Highlights
See recent Russell Research Report.
Half-year Performance & Estimates - BCT
| Year-end June | FY10? | FY11A | 1H12A | FY12A | 1H13A | FY13E | FY14E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 317.8 | 0.69 | 0.45 | 0.02 | 0.06 | 2.0 | 14.0 |
| EBITDA, $m | 0.00 | -3.7 | -1.5 | -2.9 | -1.7 | -2.2 | 2.6 |
| EBIT, $m | 0.00 | -3.7 | -1.5 | -3.0 | -1.7 | -2.2 | 2.6 |
| Report NPAT, $m | 0.00 | -3.7 | -1.5 | -2.9 | -1.7 | ||
| Adj. NPAT, $m | -1.7 | -2.0 | 1.8 | ||||
| Reported EPS, ¢ | 0.00 | -6.00 | -2.00 | -4.00 | -2.00 | ||
| Adjusted EPS, ¢ | -2.00 | -2.20 | 1.80 | ||||
| EPS %FY/Growth | 0% | 50% | -33% | 0% | -45% | -182% | |
| Dividend, ¢ | 0 | 10.0 | 0 | 0 | 0 | 0.00 | 0.00 |
| Franking, % | - | 100% | - | - | - | - | - |
| EBITDA Margin | 4% | 7% | -159.2 | -159.2 | -29% | -110.0% | 18.6% |
| NPAT Margin | -2% | 2% | -157.8 | -157.8 | -29% | -100.0% | 12.9% |
| ROE, % | 0 | -2.96 | 0 | -3.83 | -1% | ||
| EBIT/Interest | 0.7 | 168.4 | 168.4 | 61.4 | 2,228 | ||
| Net Debt / Equity | -0.97 | -1.11 | -0.97 | -0.46 | -0.93 | ||
| CashFlow/Sh, ¢ | ****** | -2.6 | -0.7 | -2.8 | -1.2 | 0.00 | 0.00 |
| Y/E Shares, m | 53.2 | 78.3 | 78.6 | 86.2 | 97.6 |
| Notes |
| EPS Growth compared with the pcp is shown in most columns, except 1H10A and 1H11A which show the first half % of full year EPS. |
Company Overview
See recent Russell Research Report - please click below.
Russell Research Report
Russell Research - Bluechiip Limited (BCT) - Research report - 14 May 2012.pdf
Profile
Bluechiip
Rating:
Category: ;
Action:
Website: www.bluechiip.com
| ASX code: | BCT |
| Closing Price, 09/05/14: | $ 0.054 |
| Market Capitalisation: | $ 6.3 million |
| 52 Week High: | $ 0.19 |
| 52 Week Low: | $ 0.04 |
| Sector: | Technology Hardware & Equipment |
| Index: | S&P/ASX Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | -2.9 | -3.6 | -2.3 | -0.7 |
| Reported EPS, ¢ | -4.00 | -4.00 | ||
| Adjusted EPS, ¢ | -3.80 | -2.10 | -0.50 | |
| EPS Growth, % | -33% | -5% | -45% | -76% |
| P/E Ratio, x | -1.35 | -1.42 | -2.57 | -10.80 |
| Dividend, ¢ | 0 | 0 | 0.00 | 0.00 |
| Franking, % | - | - | - | - |
| Div. Yield, % | 0.00 | 0.00 | 0.00 | 0.00 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
One Year Chart
As at 23 June 2014
Other Highlights
| Sector: | Technology Hardware & Equipment |
| Return on Equity, FY13 : | -633 |
| Net Debt to Equity, FY13 : | 16 % |
| EBIT / Interest Cover, FY13 : | 1,451 x |
| Gicscode: | 45200000 |
| First Listed: | 09-Jun-11 |
Business Activities
Bluechiip Limited (BCT) is Melbourne-based with its 3rd-generation tracking system ready to roll out from major production partners in USA, Europe and Asia, to meet the needs of major life sciences cryogenic bio-specimen storage customers.
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |