Q4 Out: Continued Revenue Growth, Balance Sheet StrongStrong revenue growth having for the fiscal year up 54% over FY 15. Positive to see that that the expense control was maintained in SG&A as they roll out new programs. The balance sheet looks so much better today then it did a year ago. Generating 16.1M in operating CF in 2016 and paying back over 10M in debt has freed up the optionality for the use of capital for deals and lowering the overall EV value in an EV/EBITDA calculation. I think the short term drop was based on the gross margin contraction due to the prototype programs which I didn't expect in all honestly to that degree. If the past year has been any indication of the success of their program rollouts this will just be a pause that refreshes before the new line of products get rolled out. Wish I had a bid in at the close there as I think the market reaction is overdone given its trades at 8x trailing P/E and 5x EBITDA. We could be in a similar phase where revenue and EPS exploded in the second half of FY15 when the initial LED programs were rolled out. Still has to be the best play in the autos and broader industrials.