Unilife Corporation (UNS)



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General Information
Company Name: Unilife Corporation
Stock Code: UNS
Website: www.unilife.com.au
GICS Sub-Industry: Health Care Equipment
Market Cap ($M): 127
Equiv. Shares (M): 268

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.475 $ 0.470 $ 0.475 $ 0.455 $ 0.480 468,197 $ -0.005  -1.042 %

Company Overview

Business Description:
Unilife Corporation Limited (UNS) is a U.S. based developer and supplier of injectable drug delivery systems. Its proprietary technologies include prefilled syringes with automatic needle retraction, drug reconstitution delivery systems, auto-injectors, wearable injectors, ocular delivery systems and novel systems. Its customers include pharmaceutical manufacturers and suppliers of medical equipment. UNS’s products are distributed in both Australia and overseas.

Strategy Analysis:
UNS is focussed on the development, production and sale of safety syringes, the expansion of their global operational and commercial presence and, the establishment of long term supply relationships with multinational pharmaceutical and healthcare equipment companies. Unilife Corporation reported a net loss of US$27.14m for the half-year ended 31 December 2012. Revenues from ordinary activities were US$1.4m, down 54.3% from the same period last year. Basic and Diluted EPS were (0.35) US cents compared to (0.35) US cents last year. The net operating cash outflow was US$20.74m compared to an outflow of US$18.76m in the pcp. No dividend was declared.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2013  A -68.1 -14.0 -- 0.0 0.0 0.0 --
2012  A -51.3 -12.7 -- 0.0 0.0 0.0 --
2011  A -37.9 -10.9 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F
Cochlear (COH) $3,626 M -0.1635 -0.1747 0.3564 27.3408 33.1265 24.4225 0.0397 0.0400 0.0400
Greencross (GXL) $1,123 M -0.4604 1.9066 0.3823 119.9764 41.2769 29.8617 0.0098 0.0137 0.0168
ResMed (RMD) $7,464 M 0.3412 0.1217 0.1482 23.4568 20.9119 18.2129 0.0154 0.0197 0.0214
Unilife (UNS) $129 M -- -- -- -- -- -- 0.0000 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
UNS -- -- 7.10 -- 77.9
Market 0.98 16.5 1.26 2.11 1.66
Sector 0.72 19.3 2.88 1.52 2.55

Directors
Name Position Start Date
Mr Alan Denis Shortall Chief Executive Officer 02 July 2009
Mr Slavko (Jim) James Joseph Bosnjak Non-Executive Chairman 05 November 2009
Mr Jeffrey Noel Carter Non-Executive Director 05 November 2009
Mr William Galle Non-Executive Director 05 November 2009
Mr John M Lund Non-Executive Director 05 November 2009
Ms Mary Katherine (Kate) Wold Non-Executive Director 11 May 2010

Management
Name Position
R. Richard Wieland II Chief Financial Officer and Executive Vice President
Ramin Mojdeh Chief Operating Officer and Executive Vice President
John Ryan Company Secretary,Senior Vice President and General Counsel
Mark V. Iampietro Vice President of Quality and Regulatory Affairs
J. Christopher Naftzger Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer

Substantial Shareholders
Holding Name
-- (--%) Not Disclosed in Annual Report

Calendar of Events
Date Event
10 February 2015 Report (Interim)
29 August 2014 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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