I had a quick look Pillman,In April this year they announced a...

I had a quick look Pillman,

In April this year they announced a profit downgrade to a loss of $400K - $900K. They were hedged with the $AU at 67c which was fortunate. In the 2 months to June 30, they managed to turn this around to post $439K profit. This included about $1M in foreign exchange losses. The only thing I can notice to cause a near $2M turnaround in 2 months from the expected, was the establishment of a US production base. They forecast this would bring in more work but did not make any forecast.

They have hedged the dollar at 70c, (who knows whats gonna happen here) but they have announced last week that the quarter has exceeded forecast and the next will as well. I will see what I can find out about the US production side of things and let you know..

Comments welcome of course...