Not as bad as flagged by management.....Well above the guidance.
Managed to be profitable & cash flow +ve.
Spending big on R&D ....A hefty $2m, nearly 50% spend increase over 2020.
Balance sheet still sound with a pile of cash.
Large tax bill...."the owners" will be keen to get it back in their pockets by way of franked dividends in coming years.
One bad year will not break this rectifier.
A sound hold for the time being.
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