RE:Q3 Financial results posted Overall, these are solid numbers that fall within the guidance/estimates I posted a while back. Advertising was slighly lighter than I expected (I expected 1-1.1 million, 900k worst case) and it is clear that there was likely little follow through on political revs. However, a nice 10% bump from the prior quarter whic is positive, and the verbiage in the MD&A is encouraging ("they expect to reach growth targets set before the start of the pandemic"). Conversely, entertainment revenues were even stronger than I expected and it looks like this will continue into Q4 with both awards and music.
Realistically it will be nice to see at least another 10%-15% rebound on the ad side in Q4 compared to Q3, and hopefully continued bounce in entertainment that mimics this quarter. Gov't wage subsidies will likely be greatly reduced/ending, but through similar cost cutting I see expenses of around 1.6 mil, and estimate revs of 1.9-2 mil. Anything past that is gravy. COuld clsoe the year with 4.5 cents/share in cash with no debt. Our current ratio is over 4. Verrrry strong balance sheet.