Ann: Update - Dividend/Distribution - LBL, page-60

Not taking the mickey , but it seems the "glass haf epmty" folk won the the battle.
The redeeming aspect of this report is that Gross Profit Margin stayed above 50% ( down slightly from the historical average of 53-54% to 51.5%)
I consider >50% GPM an elite number in industrial outfits.....it literally translates to pricing power.
The killer was the significant increase in operating costs ( Admin, employment, R&D, Interest & "other expenses".....Add a higher tax rate to make matters worse.
I guess we have to "Linger Bit Longer" to find out if these expenses will produce the required results.
-------------
Some posters mentioned XRF which I held for quite a few years & is a great small cap.
XRF is now 3x bigger than LBL. Revenues up 8% to $60m (Not too far from LBL if we consolidate Gateway revenues)
It managed to lift GPM to 44% (up from 41%) with only a modest increase in operating expenses which resulted in hefty increse in EPS of 15%
XRF pricing power is not as mighty as LBL, but the market always likes the bottom line.