Arab Sea’s net profit jumps 19% in 9M 2019

31/10/2019 Argaam Exclusive

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Share Price

Arab Sea Information Systems Co. posted a net profit after zakat and tax of SAR 3.62 million for the first nine months of 2019, a rise of 19.1 percent year-on-year (YoY) backed by a 29.7 percent rise in net operating income.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	29.65	25.25	(14.9 %)
Gross Income	16.12	12.93	(19.8 %)
Operating Income	4.56	3.07	(32.6 %)
Net Income	3.04	3.62	19.1 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.03	0.04	19.1 %

Q3 net profit after zakat and tax plummeted 60.2 percent YoY to SAR 446,686 on lower revenue and higher cost of goods sold.

When compared to the previous quarter, net profit plunged 85.3 percent due to lower revenue.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	9.64	7.66	(20.6 %)
Gross Income	5.86	3.11	(47.0 %)
Operating Income	1.74	0.28	(83.6 %)
Net Income	1.12	0.45	(60.1 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.01	0.00	(60.1 %)

Item	Q2 2019	Q3 2019	Change‬
Revenues	8.62	7.66	(11.2 %)
Gross Income	5.85	3.11	(46.8 %)
Operating Income	2.79	0.28	(89.8 %)
Net Income	3.04	0.45	(85.3 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.03	0.00	(85.3 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	-	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	53.68	-	22.36	-	10.15	-	0.10
Q1 2014	-	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-	-
2014	59.33	10.5 %	26.90	20.3 %	17.36	71.1 %	0.17
Q1 2015	-	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-	-
Q4 2015	13.97	-	7.92	-	2.77	-	0.03
2015	60.05	1.2 %	25.09	(6.8 %)	5.92	(65.9 %)	0.06
Q1 2016	12.58	-	2.96	-	(0.73)	-	(0.01)
Q2 2016	11.31	-	3.46	-	(0.37)	-	0.00
Q3 2016	13.08	-	8.60	-	5.67	-	0.06
Q4 2016	14.97	7.2 %	5.53	(30.2 %)	0.72	(74.2 %)	0.01
2016	51.78	(13.8 %)	19.67	(21.6 %)	5.36	(9.4 %)	0.05
Q1 2017	13.46	7.0 %	4.45	50.1 %	0.67	191.9 %	0.01
Q2 2017	11.63	2.9 %	4.02	16.2 %	0.79	313.2 %	0.01
Q3 2017	7.78	(40.5 %)	2.11	(75.5 %)	(0.85)	(114.9 %)	(0.01)
Q4 2017	16.54	10.5 %	6.61	19.6 %	(28.60)	(4094.0 %)	(0.29)
2017	49.41	(4.6 %)	17.18	(12.6 %)	(28.06)	(623.4 %)	(0.28)
Q1 2018	10.12	(24.8 %)	5.38	21.1 %	0.90	35.4 %	0.01
Q2 2018	9.90	(14.8 %)	4.88	21.4 %	1.01	28.4 %	0.01
Q3 2018	9.64	23.9 %	5.86	177.9 %	1.12	232.7 %	0.01
Q4 2018	11.23	(32.1 %)	8.77	32.7 %	(23.38)	18.2 %	(0.23)
2018	40.88	(17.3 %)	24.90	44.9 %	(20.34)	27.5 %	(0.20)
Q1 2019	8.97	(11.3 %)	3.94	(26.9 %)	0.13	(85.8 %)	0.00
Q2 2019	8.62	(12.9 %)	5.85	19.9 %	3.04	200.2 %	0.03
Q3 2019	7.66	(20.6 %)	3.11	(47.0 %)	0.45	(60.1 %)	0.00

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
2012	-	-	-	-	-	-	-
2013	53.68	-	22.36	-	10.15	-	0.10
2014	59.33	10.5 %	26.90	20.3 %	17.36	71.1 %	0.17
2015	60.05	1.2 %	25.09	(6.8 %)	5.92	(65.9 %)	0.06
2016	51.78	(13.8 %)	19.67	(21.6 %)	5.36	(9.4 %)	0.05
2017	49.41	(4.6 %)	17.18	(12.6 %)	(28.06)	(623.4 %)	(0.28)
2018	40.88	(17.3 %)	24.90	44.9 %	(20.34)	27.5 %	(0.20)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	41.65 %	36.30 %	18.90 %
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	45.34 %	32.89 %	29.26 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	41.78 %	26.54 %	9.85 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	45.04 %	34.66 %	14.43 %
Q4 2016	39.57 %	30.62 %	10.19 %
2016	37.98 %	30.85 %	10.35 %
Q1 2017	41.71 %	33.18 %	12.66 %
Q2 2017	42.51 %	35.91 %	14.76 %
Q3 2017	33.66 %	26.10 %	2.77 %
Q4 2017	34.78 %	30.93 %	6.90 %
2017	34.78 %	30.93 %	6.75 %
Q1 2018	39.34 %	34.23 %	8.72 %
Q2 2018	42.81 %	37.50 %	11.28 %
Q3 2018	49.21 %	41.51 %	17.37 %
Q4 2018	60.89 %	51.54 %	24.98 %
2018	60.90 %	51.53 %	24.98 %
Q1 2019	59.01 %	50.42 %	22.82 %
Q2 2019	63.49 %	55.11 %	26.87 %
Q3 2019	59.39 %	54.69 %	23.58 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	41.65 %	36.30 %	18.90 %
2014	45.34 %	32.89 %	29.26 %
2015	41.78 %	26.54 %	9.85 %
2016	37.98 %	30.85 %	10.35 %
2017	34.78 %	30.93 %	6.75 %
2018	60.90 %	51.53 %	24.98 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	56.69 %	38.28 %	19.84 %
Q1 2016	23.56 %	13.99 %	(5.77 %)
Q2 2016	30.58 %	18.17 %	(3.27 %)
Q3 2016	65.77 %	64.94 %	43.37 %
Q4 2016	36.91 %	24.00 %	4.78 %
Q1 2017	33.04 %	25.15 %	4.96 %
Q2 2017	34.54 %	31.04 %	6.78 %
Q3 2017	27.13 %	24.41 %	(10.87 %)
Q4 2017	39.95 %	38.62 %	16.91 %
Q1 2018	53.22 %	38.29 %	12.59 %
Q2 2018	49.25 %	45.13 %	17.90 %
Q3 2018	60.85 %	46.13 %	22.65 %
Q4 2018	78.12 %	73.76 %	44.39 %
Q1 2019	43.89 %	31.66 %	1.43 %
Q2 2019	67.79 %	65.27 %	35.26 %
Q3 2019	40.60 %	41.80 %	5.84 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	-	-	-	-
Q4 2011	-	-	-	-
Q1 2012	-	-	-	-
Q2 2012	-	-	-	-
Q3 2012	-	-	-	-
Q4 2012	-	-	-	-
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	100.00	-	-	1.83
Q1 2016	100.00	-	-	1.82
Q2 2016	100.00	-	-	1.82
Q3 2016	100.00	0.07	0.07	1.88
Q4 2016	100.00	0.05	0.05	1.88
Q1 2017	100.00	0.07	0.07	1.89
Q2 2017	100.00	0.08	0.08	1.90
Q3 2017	100.00	0.01	0.01	1.89
Q4 2017	100.00	(0.28)	0.03	1.48
Q1 2018	100.00	(0.28)	0.04	1.62
Q2 2018	100.00	(0.28)	0.05	1.58
Q3 2018	100.00	(0.26)	0.08	1.59
Q4 2018	100.00	(0.20)	0.10	1.28
Q1 2019	100.00	(0.21)	0.09	1.28
Q2 2019	100.00	(0.19)	0.10	1.31
Q3 2019	100.00	(0.20)	0.09	1.31

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	-	-	-	-
2010	-	-	-	-
2011	-	-	-	-
2012	-	-	-	-
2013	100.00	0.10	0.10	1.61
2014	100.00	0.17	0.17	1.77
2015	100.00	0.06	0.06	1.83
2016	100.00	0.05	0.05	1.88
2017	100.00	(0.28)	0.03	1.48
2018	100.00	(0.20)	0.10	1.28

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	26.45	26.45	0.94
Q2 2017	18.20	18.20	0.75
Q3 2017	More than 50	More than 50	0.65
Q4 2017	NEG	35.44	0.81
Q1 2018	NEG	28.39	0.71
Q2 2018	NEG	22.16	0.70
Q3 2018	NEG	12.41	0.63
Q4 2018	NEG	12.04	0.96
Q1 2019	NEG	14.67	1.04
Q2 2019	NEG	11.90	0.94
Q3 2019	NEG	11.57	0.76

Period	P/E	Adjusted P/E	Price/book
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	NEG	36.22	0.81
2018	NEG	12.04	0.96

Business Segments (Million)

Compared With The

Period	Licenses in use of software and hardware	Maintenance services and technical support

Period	Licenses in use of software and hardware	Maintenance services and technical support
2018	23.40	17.48

Financial Ratios

	Current
Market Cap (M Riyal)	707.00
Enterprise Value (EV) (M)	703.33
Shares Outstanding ((M))	100.00
Book Value (BV) ( Riyal)	1.27
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	Neg
Price/book	5.56

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Arab Sea’s net profit jumps 19% in 9M 2019

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Share Price

Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2019 Q3

Financial Ratios

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Arab Sea’s net profit jumps 19% in 9M 2019

View other reports

Share Price

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) 2019

Revenue by Business Segment (Latest) 2019 Q3

Financial Ratios

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Business Segments (Million)