Overall I think the fact revenue grew in a year plagued with problems is not too bad.
The new management seem to be on track, cash flow positive in the 4th quarter and the report says revenues are improving on trend..and now with the addition of the floating floor orders for the new colours
Outlook is a bit vauge, but if the wording means revenues are tracking up to 7 million a qtr that could mean a $1 to 2 million profit for the sept qtr.
Considering the old outfit would have wasted alot of money floundering with machinery and building up 8 million of inventory, at least half of which it sounds like they don't need , there should be some easy cost cutting to be made and if so I think they are destined to book a descent profit providing sales volumes can hold up.
And I suppose Merim must be thinking along these lines or otherwise why would he be bothering.
Cheers
hendrous
And that would justify a rerating..
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