GREY:NEPTF - Post by User
Post by
goldstoryon Dec 28, 2020 10:42am
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Post# 32187151
Unfulfilled $100M order sitting heavy
Unfulfilled $100M order sitting heavyThe unfulfilled $100M order is sitting heavy on top of SP.
Neptune needs to find a way out to fulfill the order to move the SP upward.
https://finance.yahoo.com/news/neptune-wellness-solutions-inc-completes-120000467.html
With regards to other facets of Neptune's diversified business, including its international trade business, Neptune is delaying fulfillment into the Q4 of Fiscal 2021 (or later) of certain products manufactured overseas due to rising air freight costs and the challenges in international supply chains resulting from macroeconomic conditions facing the world due to the COVID-19 pandemic. There were significant restructuring and other one-time charges included in the second quarter of Fiscal 2021, as was discussed in Neptune's November 16 earnings announcement. Certain aspects of the Company's business experienced tremendous growth but at the same time came under immense margin pressures and expedited delivery of products which did not permit the Company to realize acceptable gross margins which is part of our core financial strategy.