Disaster Consolidated Revenue only $44M... ITS only $39M
EBITDA a negative $9.0M
Analysts will be slashing and burning their targets starting tomorrow. GTFO today.
Reporterd backlog is a 15 year figure that translates into less than $9M per quarter over that time frame.
SG&A has balllooned and is 2.5X greater than ITS gross Margin. That means ITS can't even pay for Overhead.
The Viziya loss I warned you about occurred.
When you normalize for the $10M delayed account payable, They burned through half the Apple cash in one quarter.
At this cash burn rate they have 5 quarters to go.
What I don't understand is if they breached the debt covenants and what that means in terms of repricing the debt.
Wow.. just Wow... welcome to the Kidd 'n Karnes show