GREY:CVHIF - Post by User
Post by
Cowtownskieron Jul 14, 2017 2:17pm
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Post# 26470396
Bad Debt Expense in Q1
Bad Debt Expense in Q1In Q1, BLVD took a hit hit on their income statement writing off $1.718mm of bad debt. Heath even after the fact said they could expect to pick some of this back up. Assuming this expense is reduced to even $750k quarterly would have a large impact on profitability. Assuming everything stays the same in Q2, (which I believe Heaths comments of cost reduction) would bring quarterly Net Income to $1.02mm, annualized would bring this to $4.08mm. At that Income level gives this a current valuation of 6.2x P/E. Very good value and I continue to add to my position.
GLTA