Yes but the $1 million is purely a guestimate.
LVT acquired Wizdom halfway through the quarter. Taking half of a quarters revenue for a guestimate assumes that invoices are paid evenly through the 3 months. In real life, that never happens.
With a lot of variables, Mags forecast of -$6.0m is as good a place to start as any. One cannot see the impact of the Wizdom acquisition clearly enough to make an accurate cash flow forecast going into this Q. This will be the first quarter assimilating all of the costs and all of the revenues of Wizdom enabling all of us to have a clearer picture going forward.
Based on the original announcement of the investment in N3 Rochester, there should be more government grants in the following Qs that will defray the costs of N3.
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