Statement available on SedarSo a few things from the report after reading through it today.
- Gross margin for the year was down slightly to 26.2% from 27.8% but the 4th quarter had a stronger GM at 31.2% vs 27.9% last year. Let's hope that is the new trend.
- There is finally a note that the legal proceedings are finihsed and no damages have been awared. I remember this annoucement really hurt the share price back in 2016 when it was annouced. Here's the exert from the statement.
"In 2016 the Company along with multiple other defendants was subject to a claim for $12 million for damages related to an explosion at a waste water treatment plant in Ontario in 2014. In 2018 the claim was dismissed without costs with the concurrence of the plaintiff and all the defendants."
- Expenses for the year are also down from $4.74 million to $4.66 this year. As a percentage of sales it is down from 21% to 19.2%, this is another great number if this is the new trend.
- One question I did have if anyone can answer for me before I contact Doug Newman; from the cash flow statement, I don't see how the cash on hand didn't increase by more? The beg cash was $3.57 million and ending was $3.95 which means it increased by $382K. Now looking at the changes in activities it should have increase by approx. $1.64 million? Where did the other $1.26 million go? I usually understand reading a cash flow statemnt but this one confuses me.
Well let see if we get another PR on more orders locked it soon
GLTA