I'm shocked. GMs down to 29% (-10%), NPAT $1M from pcp $6.1M....

I'm shocked. GMs down to 29% (-10%), NPAT $1M from pcp $6.1M. What is most worrying is revenue down to 27M from pcp of 44M! This doesnt look like a short term incident. While mgt has flagged "some recovery" I dont get the sense that activity has normalised. It could be a while before we see a full recovery, on trend.

It will be interesting to see how the market reacts to this as the result implies eps ~$0.006, which is a PE of 70x. You would have to think that the SP would have to come back to the mid 20s. Lets wait and see.