Possibly - shorters appear on the money on this one unfortunately. For a company that put out no less than 9 'price sensitive' announcements in the 2HCY2020 - this is a poor result. Better keeping the investor communications factual, rather than trying to pump equity markets with spin.
Hopefully post the Covid disruption of 2020 they can start to see a strong uptick in revenue into 2021 leading into a turnaround in operating cash flow performance. The delay in Q4 revenue recognition (~$20m) as well as poor opCF ($120m) having been flagged in late December. Notwithstanding, having withdrawn 2020 EBIT 'in the range of $20-30 million' as late as 21 December, to then provide an EBIT loss of $28.5million suggests they have no internal controls or simply don't know what they are doing. That is an absolute shocker.
Hard to justify a $20m (57%) increase in employee benefit expenses on the back of these results...
EOS Charts, page-1658
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Last
$1.91 |
Change
0.020(1.06%) |
Mkt cap ! $367.5M | |||
| Open | High | Low | Value | Volume |
| $1.85 | $1.94 | $1.85 | $1.782M | 936.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6600 | $1.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.93 | 10000 | 1 |
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| EOS (ASX) Chart |