hard to know if this is from existing stock (the $8.9m ASX release says "The customer has issued the purchase order and inventory is being prepared for delivery." which seems to indicate they are using existing stock, while the $2.5m ASX release says "The customer has issued the purchase order, and it will be delivered during H1 FY25.")
A slight change in the message, but perhaps I am just nitpicking what may just be a casual statement
If the orders are in fact from existing inventory (that they had previously marked down), then they could potentially have a profit on that same inventory in 2H (offsetting some of the markdown they reported in 1H).
@Holdtight in their 1H24 investor presentation, they only referred to the $2m run rate for 1H24 (in fact it was $10m for 1H in total so slightly less than $2m per month), but it does seem like they booked ~$10m additional revenues in 2H24 (over and above what they had laid out in that presentation). Perhaps they do have a 'run rate' from Armour, but what is confusing is that we have heard nothing about the equipment having been set up in the US and producing armour.....so if they do have some run rate where is it being produced and how are these orders being fulfilled (again that investor preso indicated that the recommissioning costs are higher than expected and completed in 1H25?!?)
HCL Price at posting:
19.5¢ Sentiment: None Disclosure: Held
