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Sondrel – 2022 results emphasising “successful IPO”. Er, what about the missed forecasts and share price fall?!

Previously writing on semiconductor company Sondrel (SND), last week with the shares falling to 52p I wrote “in line with market expectations”… or is it?, concluding ahead of upcoming results Avoid. The company states that it now “is pleased to announce its audited full year results for the year ended 31 December 2022” and the shares have responded up on the announcement, but what of them still now at 45p?

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Sondrel – “in line with market expectations”… or is it?

Semiconductor company Sondrel (SND) has issued a “Key Milestone Update” announcement emphasising that “significant progress and investment has continued in respect of the material turnkey ASIC engagement for a Tier 1 OEM Automotive customer and remains on schedule for the release to silicon manufacture later this year… As stated at the time of the company's IPO, Sondrel expects typical production volumes for each contract to deliver revenue of £10m to £100m per annum and the contract with the Tier 1 OEM Automotive customer could deliver production revenue at the upper end of this range”. So what of a share price response down more than 4.5% to 52p?

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Sondrel – argues a “pleased to provide” update on trading and key milestones, so why the share price fall?

Describing itself as a “fabless semiconductor business providing turnkey services in the design and delivery of 'application specific integrated circuits' and 'system on chips' for leading global technology brands”, Sondrel (SND) states that it “is pleased to provide an update on trading for the financial year ended 31 December 2022, and key milestones achieved since the group's IPO in October 2022”. So why are the shares currently 10% lower at 54.5p in response, and now below the IPO price?

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Sondrel (#SND) – projects delays, end-December cash £4.5m

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Sanderson (#SND) – 140p per share recommended offer from funds of TA Associates and Vista Equity Partners

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Sanderson Group – interims “slightly ahead of management's expectations”, but...

Digital retail technology and enterprise software group Sanderson (SND) has announced results for its half year ended 31^st March 2018 “slightly ahead of management's expectations” and “the board has a good level of confidence that Sanderson will make significant further progress during the current financial year”…

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Sanderson (#SND) – H1 adj. EPS +44%, DPS +14%, “further significant progress anticipated”

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Sanderson – trading “slightly ahead” & “a good level of confidence”. All Good - BUY

Digital Retail and Enterprise technology group Sanderson (SND) has announced “trading results for the six months ended 31 March 2018 are slightly ahead of management's expectations” and “a good level of confidence that Sanderson will make significant further progress during the current financial year ending 30 September 2018”…

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Sanderson (#SND) – H1 “slightly ahead of management's expectations”, “good level of confidence”

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Sanderson Group – positive trading & “a good level of confidence” of continued progress

Digital retail technology and enterprise software group Sanderson (SND) has updated on trading and that it has “a good level of confidence that the group will make continued progress in the current financial year ending 30 September 2018”…