RE:Departed Executives SavingsYes, I think the depatures reflect another round of cost reductions. The company is still in cost cutting mode given the revenue declines last year.
I'm looking forward to hearing about the new CEO's revenue stabilization/growth strategy. He has a good background and brings creditbility.
It might not feel like it, given the senior departures, but I think the company is in the best shape it's been in the last 3 or 4 years. They've accelerated their ARs and repaid a ton of debt. I think they will be able to payback another $15 million in 2021. They have built some areas of strength (revenue growth). And, gross margins have been quite resilient.
I think they can still work of right sizing SG&A.
For 2021, I think we'll see a base EBITDA of $32 million to $35 million...and think they can grow from those levels going forward.