Jan 21st 2013 - Edison Investment Research today published a report on SCISYS (SSY.L, LSE:SSY, LON:SSY) entitled "FY12 EBITA Is In Line". In summary, the report says:
SCISYS expects to report FY12 adjusted EBITA in line with market expectations and record a further improvement in operating margins. While the group order book is healthy, the UK public sector remains challenging, hence we have eased back our FY13 forecasts. However, FY13 will benefit from a full contribution from the recently acquired MakaluMedia (MM) and we expect more news on the group’s involvement in the Warrior upgrade project. Given our maintained long-term margin target of 7.9%, our discounted cash flow values the stock at c 90p.
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