Little disappointing on the revenue side, although I was expecting a $3mill - $4mill dollar fall since Clients\Suppliers would have been a little gun shy after Lehmans.
Now look at the costs for the quarter, wow, cut by nearly $11mill, that is a good effort, just missed out.
I'm not sure what the loss will be for the full year '08, but for '09 I'm expecting total revenue of $60mill and the cost base to continue reducing and possibly a EBITDA profit of $1mill->$3mill. I'm not expecting a huge lift in revenue.
It turned out to be a bigger year for Hyro than anyone expected with the Lehman brothers event, turned out to be beneficial in the end.
HYO Price at posting:
1.9¢ Sentiment: ST Buy Disclosure: Held
