GREY:DLTNF - Post by User
Post by
MickeyTJon Aug 15, 2020 2:36pm
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Post# 31413001
Net Income Question
Net Income QuestionAll in all, pretty much as expected. Record overall revenue for the Q, postive EPS, and a postivie net income from operations.
Slow and steady, and I am staying long.
One tiny blemish. Net income was about $1.4 million from $13 million in Revenue. Last Q they had about $2.9 Net income from $11.7M in revenue. And form my glancing at the statements I couldnt quite tell why the net income was half (!?). They do mention in the management discussion release that as a result of covid they estimate an extra $500k was spent on wage top-ups, PPE, added safety protocols, etc. But I didn't see a full explanation of the substantial reduction in net income.
Anyone else know?
All that to be said, to show record revenue in a quarter entirely embedded within the pandemic is absolutely stellar. They have now sped past the $50M in annual revenue (which will come this year), and the next milestone will be $100M in annual net revenue. I believe this will come in short order.