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Why the LaserBond Limited share price is rocketing today

The LaserBond Limited (ASX: LBL) share price soared 10.5% to 42 cents today after the surface engineering technology business revealed today that it expects revenue for the half-year to December 31 2018 is expected to be $10.5 million which would represent growth of 45% over the prior corresponding half year period.

On October 22 the group reported that it expects EBITDA or operating income to come in between $1.8 million to $1.9 million for the half-year, compared to $0.58 million for the prior half year period.

In FY 2018 LaserBond posted a net profit of $1.25 million on earnings per share (backing out impairments) of 1.34 cents, although it looks likely to post a strong year of growth in FY 2019.

However, it has a market cap of around $40 million on the back of today’s rocketing share price, which means it remains in the speculative micro-cap end of the market suitable only for investors with a high risk tolerance.

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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