Finally had the chance to listen to the CC and here is my take.
1. Revenue of 5.7 million 4th quarter 2015, still operating at a loss, but less. Increase of > 250% compared to 4th quarter 2014.
2. Decrease in unit price by 10%, but margins of 41%!
3. Started delivering to ECAC, norway and netherlands. On the note of ECAC, next wave is in march of 2016. Also expects similar guidelines for etd from countries that fly into ECAC airports.
4. Gave CAUTIOUS guidance of 40-45 million in fiscal 2016.
5. Back log of > 45 million, but only 80-85% of that will be realized this fiscal year as some of that sum is from 2nd year warranty.
6. Still haven't delivered first shipment to TSA yet, but this is due to CYBERSECURITY ISSUE that ONLY IMSC equiptment can COMPLY with, another selling point of their product that they did not expect. THIS MEANS IMSC WILL GET THE WHOLE $162 MILLION IDIQ. Expect that they will be shipping out the TSA order in October.
7. IMSC now able to produce 400 units of 220s per month.
8. IMSC also now in the drug detection market, BM seems to think that this is a big deal.
9. Regarding Debt --> looking for other alternatives, but no specifics. Did state that the company feels that it is more important at this time to invest in R & D than paying back debt.
10. There is new products in the pipeline.
Next quarter should be a blow out quarter, we will see.
GLTA,
KB
