The LaserBond (ASX:LBL) share price rose 11% on Tuesday following announcements of positive revenue and profit forecasts from the company.

What does LaserBond do?

Founded in 1992, Laserbond is a specialist surface engineering company that focuses on the development and application of materials, technologies and methodologies to increase operating performance and life of capital-intensive machinery components. LaserBond states that its technology can deliver significant cost effective improvements to a range of sectors including resources and energy, agriculture, advanced manufacturing, defence and infrastructure construction.

Strong revenue and profits forecasted?

On Tuesday, LaserBond announced a continuation of the company’s strong performance. The company expects revenue in FY19 to total between $12.6 – $22.2 million, an increase of 38% to 42% over the previous corresponding period.

As a result, LaserBond’s profit before income tax is forecasted to be between $3.2 – $3.5 million and its EBITDA to be between $4.3 – $4.6 million this financial year. Compared to FY18 when LaserBond posted a net profit (before impairment) of $1.25 million and an EBITDA of just $2.2 million, the company has clearly been doing something right.

Will LaserBond reach its target?

Based on the forecasted performance, it appears LaserBond has already reached its goal of double digit revenue growth from the Services & Products division, along with increases in revenue in its Technology division. But will the company be able to reach its longer-term goal of $40 million revenue by FY22?

Laserbond has recently been trending well on Strawman, and remains below the community’s consensus valuation.

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