It's a common misconception that r and d props up cashflows. The expenditure itself is written off and swallowed in the accounts. The r and d itself is limited to 40 or 45%(dependant on turnover) of what was spent so you spend more then you get.
Add the $1 mill cash spent on acquiring dla last year then the reality is this is a cash flow positive business with international exposure in an ever needed space.
Anyway have a cracking weekend looking forward to Monday.
PEH - Massive Breakout Alert!, page-205
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