2242749 Ont Ltd. AIIFF

RE:The Weather and The Settlement

[RustyNail]

Glad,
Of course we've had winter and if you go back and look you will see that business dips during harsh weather of any kind. Not an excuse but a reality. Armtec isn't the only company with reduced revenue from the weather. (Phillips got crushed for using the weather excuse)
In Armtec's case the big issue isn't really weather but the crushing debt they carry. They needed to have a successful Q1 and were not equipped to deal with mother nature.  Much of the blame has to rest with managers who have no experience in consrtuction markets.
Most companies with reasonable debt and people who know the business act accordingly and get ready for the work to start.

Instead, Armtec spends thousands and thousands on programs, meetings and training to somehow spring out of the red instead of holding tight, reserving some expense and focusing on the customer.
Someone on this board made a comment about removing deadwood. That deadwood went with many years of experience that they could use now.
Sadly, the new deadwood won't cut it.
So Q1 was in the tank.  Q2 ?? I guess we wait and see but it's a long hill to climb.