Categories: Wireless

A look at the balance sheet of Craig Wireless (TSX:CWG)

Shares of Craig Wireless (TSX:CWG) took off this week after awarded a broadband radio service license for the Vancouver region, a key condition of its wireless spectrum sale to a partnership owned by Rogers Communications and Bell Canada. We break down the numbers of Craig, which also posted its Q2 this week.

1. Price to sales: 21.93

As of February 28th, 2010 (Q2 2010) Craig Wireless had 50.16 million shares
outstanding. The price as of April 14th, 2010 was $.70 This gives The Company a market capitalization of $35.1 million. Sales in the trailing four quarters totaled $1.6 million.

2. Cash to Market Cap: 4.2%

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As of Q2 2010, Craig Wireless’ reported cash and short term investment totaled $1.49 million. The Company’s market cap, as of April 14th, 2010 was $35.1 million.

3. Debt to market Cap: Zero

As of Q2 2010 The Company’s reported long term debt was zero.

4. Trailing Three year growth rate: -9.55%

Craig Wireless’ sales were $2.40 Million in 2006. Sales fell to 1.7 Million
in 2009.

5. Enterprise Value to Sales: 21

Enterprise Value as of FY end 2009 is $33.6 million, based on a
cap of $35.1 million plus zero long term debt, minus cash
and short term investments of of $1.49 million. Sales for the trailing four quarters totaled $1.6 million.

All financial information about Craig Wireless is gleaned from
their filings with the System for Electronic Document Analysis and
Retrieval (SEDAR)
All calculations are based on The Company’s closing share price as of
close April 14th, 2010: $.70
Sales from trailing four quarters: $1.6 million
Cash and short term investments as of February 28th, 2010: $1.49 million
Shares outstanding: 50.16 million.

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Nick Waddell

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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