Comment by KnowledgeSeekr8on Aug 23, 2022 3:42pm
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Post# 34915138
RE:results - healthy
RE:results - healthyAgreed some healthy numbers here
They kept costs in line and I like this statement in the report as well...
"We have been actively managing the impact that disruptions to our global supply chain and inflation have posed over the past several months, making BIOREM one of the few companies in our industry that continues to meet delivery schedules, remain on-budget and exceed customer expectations", said Derek S. Webb, President and CEO
Highlights for me:
- cash is growing again which allows them to considering an acquistion or I would love to see a share repurchase program on the open market as this company is truly undervalued at this price. Or early repayment of some of the debt (not sure if this is possible in the terms of the agreement)
- Q2 bookings was a record breaking $12.5 million after I belive already breaking the record last Quarter with $10.8
- Gross margins increased to 23.3% from 20.1% in Q1 even with inflation running hot worldwide
- Record backlog of $38 million!
- Strong North American revenues the past couple of quarters
- "Barring unexpected supply chain disruptions reported revenues and earnings for the balance of 2022 are expected to equal or exceed the levels reported in 2021." Revenue 2nd half of 2021 was $15.4 million
One negative that I see is that our China revenue is down again which was a market we were hoping for growth but looks like it is a non-starter now.
If this company ever gets noticed we should see some real price appreciation over th next couple of years