RE:A Statistical Outlook for Q1 of 2023 I'm not sure I follow.
Is the chart on the lhs at the bottom suppose to read Q1,2023?
S,g&a is likely to be much higher in Q1 fiscal 2024 for the following reasons:
S,g&a received a government subsidy of $9.1m and I don't see any reason why this should continue. The government subsidy reduced the operational expenses of the company. In addition, there were no incentive plan bonuses paid out in Q1.
S,g&a will be higher for 2 main reasons:
1) $9.1m will be added to Q1 if they receive no more subsidies.
2) inflation has increased operational expenses for the company
Q4 fiscal 2023 was negatively impacted because of the $8.6m in incentive bonuses for the quarter which was offset, to a lesser extent, by $4.6m in government subsidies. It is worth noting that for the year, $19.9m in incentive bonuses was paid and a total of $21.5m was received in government subsidies which reduced operational expenses.