Ann: Appendix 4C - quarterly, page-48

Thanks.

Any idea what sort of margin is being made on merchant sales? $8M in revenue in a quarter - that's quite substantial. Must be a lot of transactions going through the system. Just can't find any information on this.

Andrew1234 a poster made a comment that the forecast COGS for this quarter might correlate with another upswing in revenue. i.e. they have forecast $16M+ in manufacturing and operating cash outflows for Q1 CY18; the trend I am seeing is roughly a 25% gross margin on this line item. That would imply revenue >$20M for the quarter if the forecast outflows are correct. However you made a post earlier in the thread that it is not as simple as this. If COGS does come in at ~$16M for the quarter, care to share where you think revenue might come in at?

Interestingly I have noticed that the company habitually understates the forecast for expenditure in the upcoming quarter. I.e. for the last quarter they forecast $3.046M in cash outflows for manufacturing and operating, however the actual outflows for this line item came in at $6.576M. That's quite a difference, and it they continually under-forecast during 2017. This to me indicates that NOV themselves are surprised with the upswing in revenue. I wonder how they came to the forecast cash outflows of $16M for this quarter...

Quite an interesting story this one.