RE:Q2 out.brutalshawshank2 wrote: I expected bad but this is pretty rough. Hopefully h2 2020 improves as i imagine they must be in breach of some of their covenants. Either way the divy will be gone for a long while. Eps of .08 vs .22 (2019) and loss of (1.04) vs eps .39(2019) for the quarter.........rough road ahead as the us economy is teetering on the edge
I'm not sure we read the same thing...
Net income for the quarter was $1.4M compared to $3.9M last year. The finance margin of Q2 2020 was $17.2M compared to $16.8M last year. Operating income for Q2 2020 was $7.8M compared to $6.2M in 2019. Cash from operating activities was $18.8M compared to $23.7M last year, with the difference due to one-time restructuring/transactions costs of $5.7M. All in all, it's better than I expected.
Obviously, when you add Q1 which was ($19,827), it does give a combined Q1+Q2 of ($18,420). Btw, most of that are one time items ($27,665) and a good portion of it is non cash ($21,889). Not sure what your expectations were there... that they would reverse Q1 charges?
I want to know more about that $5.7M restructuring and transaction costs but otherwise with a finance margin up from last year and results way better than Q1, it looks promising.