RE:RE:RE:RE:EarningsMan, not a bad Q3 after all.
- Revenues were $28.42M vs $28.83 Q2 and vs $22.86 Q3LY.
- GP % was healthy at 16.25% or $4.6M (was 21.8% in Q2 but higher than the 14.71% in Q1).
- Net Income $1.468M or $0.028 per diluted share
- Cash balance increased nicely to $3.686M (from $687K end of Q2) and this increase was driven primarily from operating activities (what you want to see).
- My version of free cash flow was $3.571 (cash from Ops less asset purchases less lease payments)
- Current ratio at 2.8 and debt to asset ratio at 26.3% so obligations appear to be well covered.
Given that Q3 is expected to have its slowdown period (due to Que holiday – plant slowdowns), these results really exceeded my expectations. Great job IFX.