Objective Corporation Limited (OCL)

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General Information
Company Name: Objective Corporation Limited
Stock Code: OCL
Website: www.objective.com
GICS Sub-Industry: Application Software
Market Cap ($M): 143
Equiv. Shares (M): 90

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 1.630 $ 1.620 $ 1.630 $ 1.620 $ 1.580 3,028 $ 0.050  3.165 %

Company Overview

Business Description:
Objective Corporation Limited (OCL) is engaged in the supply of information technology software and services. The Company provides content, collaboration and process management solutions for the public sector in Asia Pacific and Europe.

Strategy Analysis:
OCL has developed a range of business applications to target specific business problems such as: recordkeeping compliance, process improvement, ISO&FDA quality management, case file management, virtual project office and correspondence management. OCL has identified several areas as growth opportunities including addressing and capitalising on the growing demand for enterprise content management solutions, increasing penetration in the public sector market, expanding service and delivery capabilities and targeting new geographic markets. OCL has increased research and development expenditure by 21% to $4.3m, and plans to increase this further in FY06.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A 5.7 6.0 56.5 11.3 3.5 5.1 100.0
2013  A 3.9 3.9 -7.7 12.8 3.0 6.1 33.3
2012  A 4.6 4.2 63.3 6.1 2.5 9.8 80.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Altium (ALU) $489 M 1.6731 0.3107 0.2315 39.1304 29.8549 24.2424 2.78 4.23 4.36
Hansen Technologies (HSN) $380 M 0.6071 0.1189 0.1291 25.8889 23.1380 20.4925 2.58 2.88 3.22
iSentia Group (ISD) $722 M -- -- 0.1815 -- 25.8967 21.9186 0.00 1.91 2.32
Objective Corp (OCL) $143 M 0.5647 -- -- 26.1589 -- -- 2.22 -- --
Technology One (TNE) $1,237 M 0.1346 0.1481 0.1025 40.5680 35.3357 32.0513 1.54 1.72 1.96

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
OCL 1.01 26.2 11.6 -- 3.10
Market 0.94 14.2 1.02 1.13 2.85
Sector 0.90 24.8 2.97 1.33 3.97

Name Position Start Date
Mr Tony Walls Chairman,Chief Executive Officer 14 March 1991
Mr Leigh Warren Non-Executive Director 14 August 2007
Mr Gary Fisher Non-Executive Director 14 March 1991
Nick Kingsbury Non-Executive Director 01 July 2008

Name Position
Stephen Bool Chief Operating Officer
Robert Paterson Company Secretary
Jeremy Goddard Global Vice President, Enterprise Solutions
Adrian Rudman Global Vice President, Industry Solutions
Scott McIntyre Managing Director EMEA

Substantial Shareholders
Holding Name
62,000,000 (70.17%) TBW Group Pty Ltd
12,513,992 (14.16%) HSBC Custody Nominees (Australia) Limited

Calendar of Events
Date Event
23 February 2016 Report (Interim)
09 October 2015 Report (Annual)
26 August 2015 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.


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