As a holder, once again I am frustrated by this quarterly...

As a holder, once again I am frustrated by this quarterly announcement. Typically, it raises more questions than answers. The obvious disappointment is the lack of revenue growth from previous quarter, but there is also plenty to be impressed by.

Here are a few thoughts:
1. Flat revenue: what is the breakdown of core sales vs flash in the pan PH sales? I am intrigued to understand just how well the core business continues to grow beyond "IT/Technology product revenues have increased...". I suspect this morning's trading would look different if a clearer picture was painted here. Also intrigued to understand some high level customer data - sales volumes must have increased substantially to maintain revenue during a heavy price reduction period.
2. Operating costs: linked to cash flow, but these have reduced to $8.8m from $11.3m previous quarter. This is excellent to see, especially in line with sustained revenues and inventory growth. I would have liked to see more commentary on this, as it implies tight cost and supply chain management.
3. Debt: Debt reduced by a further $1.6m this quarter. While our total debt is incredibly cheap, the company is on track to be debt-free soon. Again, no commentary here?
4. Profit: some people seem to be mistaking profit with cash flow. There is no profit guidance here. The $421k mentioned is operating cash flow. This is the first quarter we have seen positive operating cash flow for many moons. Profit may well be very healthy if you consider HT8's cash flow and revenue are very closely aligned and during this period cash in bank reduced only $1.1m, but at the same time $1.6m debt was paid and inventory grew by $1.3m. But again, no guidance.

The company must put more effort into its comms.