Q: Please comment on 4th q and year end numbers. Thanks.
5i Research Answer:
EPS of $0.26 matched estimates and sales of $77.163M beat estimates of $77.1M. Net income rose to $37.6M, more than doubling from its profits of $15M in the prior year. Sales rose to $331M from $250.9M in the prior year, a 32% jump. DRX is a $350M company and in FY2023 it generated $77.9M in operating cash flow, demonstrating a significant free cash flow yield. The company announced it will begin paying a semi-annual dividend of $0.01 per share, representing a very small yield. Overall, the company's momentum has been excellent and it continues to win new contracts, demonstrate strong operating leverage, and it trades at a cheap valuation of 8.8X forward earnings.