Update on NextNation again

Blogged on March 2008, Nextnation Again. Let me paste the whole posting here again.

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Blogged last year: Update on NextNation

I wrote the following:

First blogged on Nextnation on 31st May 2007. here

Two points mentioned then..

• 1.Net margins show some weakness but the growth is impressive!
• 2. The biggest concern for me is that NextNation has an issue with its receivables and because of this, one do not really see wealth being generated in the company's cash flows despite its very impressive earnings.
  

Nextnation announced its next earnings on June 29th. Quarterly rpt on consolidated results for the financial period ended 30/4/2007

Sales dropped on a q-q to 21.533 million.
Earnings dropped to a mere 480k.
Receivables is at 67.092 million
There goes the GROWTH stock status!

I wrote a simple posting. http://everything27.blogspot.com/2007/06/nextnation-ii.html

Well, from an investing perspective, it's pretty ugly.

Nextnation announced its next earnings on Sept 2007. Quarterly rpt on consolidated results for the financial period ended 31/7/2007

Sales dropped on a q-q to 17.797 million
Earnings improved slightly to 611k.
Receivables is at 61.702 million

Nextnation announced its earnings last night. Quarterly rpt on consolidated results for the financial period ended 31/10/2007

Sales were flat at 17.868 million.
Earnings dropped to a mere 145k!!!
Receivables is at 56.702 million.



I just saw that Nextnation reported its earnings on Friday. It was not pretty.

Sales were lower 15.636 million
Earnings - Nextnation reported losses of 1.913 million!
Receivables is at 49.290 million!

Nextnation is last traded at 0.085!!!

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Nextnation just announced its earnings on June 30th.

Sales revenue is now 13.246 million.
Earnings - NextNation announced a staggering loss of 8 million.
Receivables are still extremely high at 41.9 million!

Stock last traded 5 sen!!!

Company mentioned the following:

• The Group generated loss before taxation and loss after tax before minority interest of RM8.08 million and RM8.02 million respectively for the current quarter as compared to profit before taxation of RM1.65 million and profit after tax before minority interest of RM0.80 million respectively recorded in the previous quarter. The losses recorded were mainly due to lower revenue generated and higher operational cost for existing products and services.