Pristine result.We were worried about the large inventory in...

Pristine result.
We were worried about the large inventory in FY'19 , but it has been converted into cash ....Inventories has fallen down to a more reasonable level.
Here are the highlights of this great business.....Too many to mention.
# Gross Profit Margin 48%.
# EBITDA Margin 23%.
# Net Profit Margin 12%
These type of margins are only seen in elite businesses with good pricing power.
# Operating cash flow $3.2m.
# Free Cash flow after investing $1.45m amounts to $1.8m......It can afford to pay down debt or pay dividend.....it is the surplus cash flow above the immediate needs of the business.
# Cash holding >$6m......A cash cow......Not one milking shareholders.
# Increased equity by 27%.....No hairy fairy intangibles.....No nonsense capitalization of expenses....Just solid, hard to dispute numbers.
# Working capital ratio increased to 2.47%.....Too strong even for a manufacturer.
# Strong debtor position with net receivables $$00Ks.
Very healthy indeed......Could it still succumb to this new bug?