Just some Sunday night digging... Ok so we know RWL had the...

Just some Sunday night digging...

Ok so we know RWL had the following breakdown in Total Bookings, Revenue and Year End Backlog as seen below.

So in CY2017 by 14 July 2017 they had already booked for that 6.5 months $55.6m which is pretty good when you compare the whole previous year they got $71.2m in bookings. Backlog when we took over they had $82.9m.

Interesting though they had revenue of $20.1m for those 6.5 months - they have predicted that this year was going to achieve revenue of $90m, now having the delayed San Quintin ($14m delayed) start so still targeting $76m right. So we still need revenue of $56m to come in.

Last 4c which accounted for 2.5 months we received cash of just under $8m.

We know cash outflows for the next Q are expected to be $37m.
We know revenue already was $20.1m until 14 July.
We know cash inflow from 14 July to end Sept was just under $8m.
We know revenue is expected to be another $56m from when we became FLC.
We don’t know how they account for revenue recognition but do know it can be delayed due to starts etc.

So the question is, what are we expecting next 4c?

Will try do some analysis tomorrow