I am kind of torn by this Ann/4C, drop in revenue matched by drop in costs.
The drop in revenue was announced so I should have expected it, but it is still disappointing. However getting the costs down has meant that they are not burning the cash they used too, so it offsets the removal of low margin work.
Getting costs down is vital at this point of the business as cash burn kills companies. So teh drop in revenue is somewhat offset for me in teh drop in expenses.
Oh and the little throw aways of passing pyroman for Nyco and ironing out tech issues with large scale treating of existing uniforms is a nice positive as is the addition of another cornerstone.
The next 4C (or more probably depending on timing the one after) will be the company maker or killer, they now need sales with the margins they are after, simple.
Changing my sentiment to hold, but only because I want to see what the other milestone is, depending on that it will be back to buy
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