TSXV:MRS.H - Post by User
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Checkouton Jun 01, 2022 9:32am
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MRS
MRS While the revenues were lower than in previous quarters, we remain confident that we will be able to announce near-term catalysts soon. Importantly, with all the irons in the fire, we haven’t lost solicitations to competitors but rather continue to experience delays in awards.
From a financial standpoint, Q1 also showcased the amount of work done to clean up the balance sheet. Overall liabilities decreased by an impressive 68%. And we have also been able to keep our operating expenses at a minimum, resulting in a net profit and margins of 49%. These margins reflect the margins associated with our manufacturing operations, and we fully intend to continue leveraging our Cut&Sew and OEM capabilities to capture other higher margins opportunities.
Thursday’s webcast will provide more visibility into current opportunities and near-term catalysts.