One of the company's weaker updates, I feel.
Unsurprisingly, amalgam's magical revival was short-lived.
So, 220bp Gross Margin gain insufficient to offset 7% Revenue loss, to leave Gross Profit down by ~3%.
They are going to have to run hard to make up ground in the remaining 8 months of the year; noting that the second-half is seasonally stronger than the first half by a factor of around 1.80, on average.
So all is not lost but those newly-launched products will have to get their boogie shoes on if this is not going to be a lost year, growth-wise.
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