RE: RE: RE: RE: RE: RE: Hem on BNN I still think these costs are still high, at least while revenue is < $100 MM per year. Something has to be done - either grow revenue fast or cut R+D, or get acquired/merged. Long term the business can not sustain itself with such extravagent spend and shareholders will suffer. The company is like a pure research house - spending lots on R+D but not creating the products that sell and make money.
Consider Raven - 2011 revenue of $381MM. R+D was $9.7MM! (2.5%). S+M was $30MM (7.8%).
Yet HEM is running at 17% and 20%! But revenues continue to languish. Just what are they spending all their R&D money on???
Even reducing R+D by 20% and S+M by 20% makes the company a lot more profitable.