RE:RE:RE:RE:Financials outthe market has been extremely punitive to anything out of order in the results..
The headlines of the results are all BAD
- Gross margin of $52.9 million for the third quarter of 2018, compared to gross margin of $54.9 million in the third quarter of 2017.
- Net income of $7.7 million in the third quarter of 2018, compared to a net income of $25.0 million in the third quarter of 2017.
- Cash flows used in operating activities of $3.8 million in the third quarter of 2018, compared to cash flows provided by operating activities of $5.3 million in the third quarter of 2017.
- Adjusted EBITDA of $15.2 million in the third quarter of 2018, compared to $18.3 million achieved in the third quarter of 2017.
- Net customer attrition of 35,000 in the third quarter of 2018, with customer count totaling 1,352,000 at the end of the third quarter of 2018
- Total Cash and Availability at the end of the third quarter of 2018 of $30.1 million, compared to $49.4 million as of the end of 2017.
- Distributable Cash for the last twelve months was $24.8 million, representing a Payout Ratio of 147.3%,
The market will read all these headlines and punish the stock badly.... I am expecting a bad day tomorrow.
One good thing was
As of September 30, 2018, the Company had re-purchased 449,445 trust units of the Trust ("Units") at an average price of C$7.23 per Unit under its normal course issuer bid, which became effective in March 2018.
Thats $3.2mm. So, they have money, they are buying and cancelling units that too at avg price higher that current price.. This is a very good thing..
I am not selling, because you are right, the Q4 will look better.
GLTA
smithgee wrote: Looks good to me ... one time hits are out of the way and q4 we will be growing again.
Looking to pick up some more tomorrow, if more like you only focus on the negative.