brutal
in jan 2008 phx.un basically had no debt, great balance sheet. now they are on track to have up to 70M in debt, and have raise twice since then. Basically they have in 2 years dwindled 95M in cash,
They continue to spit ot 14M ayear in dividends and have horrid rental expense despite the capex budget
All the recent capex might reduce the rental, but dont expect near 50M in capex to improve the bottom line.
Their usa management quit and started a new company, houston area sales in the tank. Instead of renting a ton of gear (22M in 6 months) maybe they should have raised prices, and actually made some margin on the work they had
Sorry John (Hooks) I work for brand X
Instead of paying your main people on revenue ... maybe you should py on "profit"
Raise your prices and dont discoun, and dont rent, it means a better margin