Savvy Trades and Investments

[cartonet]

BRM.V earnings just out.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBRM-2322576&symbol=BRM®ion=C

Kept about the same revenue and gross profit margins as last 2Q but a 200K provision kepot them from doing over 500K for the quarter again.

General and Administrative
Sept 2015 June 2015 Sept 2014 $537,000 $359,000 $343,000
General and Administration expenditures include administrative salaries, consulting, office supplies, regulatory and transfer fees, travel and corporate affairs.
General and administrative expenses of $537,000 incurred during the quarter were higher than those incurred during the first and second quarter due to a $195,000 provision record in the third quarter against certain accounts receivable due to uncertainty over collection.

Also note this:

Other comprehensive income Item which may be reclassified into profit and loss: Foreign currency translation differences on foreign operations 208,915

Total comprehensive income (loss) for the period 526,786


This must be due to USD collectables going up vs. CAD and at year end will be re-classified as earnings if CAD does not do a turn around vs. USD

When you take in consideration these 2 factors, base line profitability is pretty much the same if not larger as last 2 quarters, nothing to sneeze at for a 6M mkt cap.

Backlog went up by 3M to 17.6M BTW. BRM.V will keep on feeding us hugely profitable quarters for the foreseeable future:

Given the tendency for delays in construction or financing for large infrastructure projects, we do expect some variability in revenue and booking between quarters, but do not anticipate any major corrections for the medium term