OTCPK:DRWIQ - Post by User
Post by
Links68on Jun 03, 2015 9:01pm
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Post# 23795108
1st Quarter Revenues 10%-20% lower...
1st Quarter Revenues 10%-20% lower...than they announced only about a month ago.
"$27 million for its first quarter of fiscal year 2016, ended May 31, 2015. Revenue is lower than expected because shipments associated with orders received did not make the first quarter cut off. These shipments are now expected to occur in the second quarter fiscal year 2016."
Earlier in May (only 2 or 3 weeks before quarter end) they provided guidance of $30M to $33M.
shipments associated with orders received did not make the first quarter cut off
Earlier i posted that i was gettting out of this stock at $0.70 (which i did) mainly because of management's lack of ability to run the company. The reason they give for the revenue shortfall just reeks of internal process issues on top of their cashflow and inventory management issues. They knew enough about these orders a month ago to provide guidance of at least $30M which means these orders were in house and they couldn't get them filled in time??? Really???
In my original post I also said this will likely go up once i got out. It did for a short time, but this one is going lower. If they make a managment change i may get back in.