Beyond International Limited (ASX:BYI) FY13 Results

Today the company reported FY13 NPAT and EPS 9.6% above FY12's results. This is slightly below the low range of the guidance given earlier this year of a 10-15% increase. As such, a few investors headed for the door which saw a large 9.44% drop in share price by day's end.

The slight miss in forecast can be entirely attributed to the continued sluggishness of the digital media division BeyondD. Not only did it not turn a profit, but it also took a net -$350k hit on EBIT (-$650k write down of goodwill but +$300k reversal of earnout payments).

Other points of interest:

Overall, not too much to complain about. It's has once again strung together another good result. And it's still attractively priced (P/E ~10.5) for a growing, foreign currency exposed, non-mining-related company in this current environment.

As discussed previously, the biggest challenge and opportunity for Beyond is the changing environment for content producers. If one can make the right moves, it may work out very profitably. Kevin Spacey has something to say on this topic also...


BYI last traded at $1.63.

Disclosure: At the time of publishing I own shares in BYI