Ann: Appendix 4C and Quarterly Activities Report, page-23

It's sure going to be interesting to see a breakdown by segment the next time GSW has to do that in an annual report. I'm enjoying all these analyses of GSW's activities that neglect the fact that their last annual report showed that the 2 previous acquisitions produced about 2x the revenue (on an annualized basis) that GSW's did, and that since then, they've spent 1.5x as much again on LOGO.

Those giant jumps (happening in revenues and very particular costs, not always the same profile of costs as GSW a year ago) in the previous quarter (with partial LOGO results factored in) and the last quarter (with full LOGO results) are probably just a coincidence, right?

It's too bad Our Boys were distracted from their Important Work by ASIC. If they had only been left alone, they might have completed a couple more acquisitions and posted $20M revenue this quarter (albeit at a cost of $40M).