@MJS
The $4.7M will be mostly absorbed by the new deferred revenue COGS.
If $3M was deferred for June 17 that had no work done and Lets say COGS @70% we have:-
Revenue of $1.5M for the half with $2.1M expensed.
So loss of $0.7M
Sept Quarter 17 deferred of say $6M will have 70% COGS.
Revenue Recognised $1.5M (Dec Qtr income ) less COGS $4.2M -
Loss $2.7M
So the $4.7M Deferred from FY17 will be all absorbed or expensed and have not much effect because the company is growing so fast.
We are a the point know where corporate overheads are covered off. Profitability going forward will be a reflection in the trading account now. ie.turnover and margin
It may still be a statutory loss overall because of our 50% qtr. on qtr. growth.
If its a profit then its massive achievement given the growth they are doing and the size of deferreds are not that great.
THINK BIG