Post by
Possibleidiot01 on Nov 30, 2023 7:55am
thoughts on Q3
The stock market rewards consistency so I don't expect a rise in prices the record backlog could otherwise cause.
It's interesting that when COVID was happening, results were consistently excellent because there was very little happening ; with the resumption of a more normal economy there are more capital projects going on competing for a scarce pool of workers. When you think about it that way, the results change from being disappointing to understandable.
Of note in the report , a big drop in fotal operating expenses (net of other income) for the quarter were $806,000 against $1.4 million in the same period the prior year. Remember there was that lawsuit last year.
During the quarter the Company booked $8.2 million in new orders resulting in another record order backlog of $54.5 million on September 30, 2023 compared to an order backlog of $51.5 million on June 30, 2023 and $43 million on September 30, 2022.The Company expects this record backlog to enable the Company to deliver a strong fourth quarter of the year in terms of revenues and earnings.
Idling at the stoplight