Order in the court. Since 2004, Calgary based VIQ Solutions (TSXV:VQS) has been trying to provide it. The Company’s Encompass suite of products provides digital audio and video capture that is used mostly in courtrooms. In 2009, VIQ was selected for an ambitious project; outfit 594 fixed and portable installations across the United Kingdom with its digital audio recording and records management solutions. The rollout of the contract, which means about $6 million to VIQ was slower than expected, but is expected to be completed this year. In the meantime the company has added clients such as the Regional Municipality of York (Ontario) Police Services Board, and a contract with the Australian Securities and Investments Commission for Spark and Cannon, a VIQ subsidiary that provides transcription services. VIQ Solutions reported its Q2 2010 numbers late in August, we include these in an updated Quant Snapshot: VIQ Solutions.
1. Price to Sales: 3.99 x sales
As of Friday, September 3rd, VIQ Solutions had 83.38 million shares outstanding. The price, as of the same date, was $0.55. This gave The Company a market capitalization of $45.86 million. In the trailing four quarters VIQ posted sales of $11.5 million.
2. Cash to Market Cap: 1.8%
As of Q2, 2010 (June 30th, 2010) VIQ had a Cash and Short Term Investments position of $826,680 The Company’s Market Capitalization, as of Friday, September 3rd was $45.86 million.
3. Debt to Market Cap: 1.1%
As of Q2, 2010 (June 30th, 2010) VIQ had a Long Term Debt position of $510,663.
4. Three Year Growth: 0.5%
Revenue was $11.3 million in FY 2006. This grew to $12.3 million in FY 2007, before falling back to $11.3 in FY 2009.
5. Enterprise Value to Sales: 4x Sales
VIQ’s Enterprise Value is $46.17 million, based on a market capitalization of $45.86 million, plus Long Term Debt of $510,663, minus Cash and Short Term Investments of $826,680. In the trailing four quarters, sales totaled $11.5 million.
All financial information about VIQ Solutions is gleaned from
their filings with the System for Electronic Document Analysis and
All calculations are based on The Company’s closing share price as of
close September 3rd, 2010: $0.55
Sales from trailing four quarters: $11.5 million
Cash and Short Term Investments as of Q2, 2010 (June 30th, 2010): $826,680
Shares outstanding: 83.38 million.
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