Rubbish 4C...
Cons:
Sales down 10% on FY19 Q1 due to a broken machine...
Admin and Corporate costs up 117% (no explanation for why...)
Warning of 'impact' on Q3 from potential US Govt export licensing issues
Pros:
EBITDA positive $1.4m
Received $1.9m of govt grant
Paid down $1m of debt
Increasing gross margin (although the amount is probably tiny as there is no axis on their graph, and any increase in this is definitely offset by the ridiculous increase in Admin and Corporate costs...)
It seems good on the surface because they're cashflow positive, but remember $2m was carried over from sales in the previous qtr, and they just received $1.9 in govt funding for the chemring project.
What's everyone else's thoughts?
Rubbish 4C...Cons:Sales down 10% on FY19 Q1 due to a broken...
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