Haha, I had similar initial thoughts. The whole first paragraph was a good way of explaining the revenue but it did come off a bit too much as a qualification / reasoning for the numbers.
Would have been better to lead in with a more positive summary about all their sales they have landed, how they are ramping up eMite, their focus on growth, etc. - before taking a look at the numbers and THEN justifying that it may look worse than it actually is.
Interesting they didn't mention any reasoning of deferred income? Anyone have thoughts on this?
Ann: Update Q1 Revenue & Activities-PRO.AX, page-12
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