RE:RE:Excellent QuarterThat's an interesting metric.
Backlog as at the end of May of $13 million and $21.4 million at the end September. About $8.5 million growth during the quarter. Annualize it, and we have solid growth. But, as stated, $4 million of it is 1 contract, so the run rate without this contract is $4.5 million, not that impressive annualized. All to say, increase in heat recovery project sales is key to meaningfully growing the top line.
GEM (and maybe BEI) may be solid gross margins, but their growth does not seem to be exceeding 30% as far as I can see so far, and I don't know why given the size of clients.
But as of today, it is one of the better days we had I would say in this management's team history.