Post by
Possibleidiot01 on May 28, 2024 4:39pm
good start to the year
Revenues for the quarter totaled $5.9 million, a $2.7 million or 87% increase from revenues of $3.1 million recorded during the first quarter of 2023 and a 51% decrease over the previous quarter. The decrease in revenues reported in the quarter over the immediately preceding quarter was largely seasonal in nature. Biorem typically has lower revenues in the first quarter due to customer scheduling.
They even had earnings in the first quarter , normally the weakest quarter.
Gross profit at 30% of revenue versus 4% a year ago.
Backlog was maintained with prospects for it to grow.
Cash went up - the Company's cash position stood at $5.9 million on March 31, 2024, compared with the $2.3 million held on December 31, 2023.
Hard to be unhappy.
Comment by
KnowledgeSeekr8 on May 28, 2024 5:18pm
Tototally agree and at least this should set the floor on this stock at $2 now This company has now has only $3 million debt with cash of $5.9 million net cash approx $3 million with a market cap of $31 million with cash growing. This will be $2.50 - $3.00 by end of year if those bookings come in like they are expecting.