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Tuesday, December 01, 2015 1:24:25 PM
Nothing to disagree with in your last post.
The infrastructure of ROX keeps growing. That shows strength.
Time Capsule:
When I took my first position in ROX ... Inventories were — net of allowance for obsolete and slow moving inventory of $953,473 and $1,355,159 ...
June 30, 2009 ... $8,530,706
They were turning over inventory every 134 days.
Today:
Inventories were — net of allowance for obsolete and slow moving inventory of $327,576 and $266,473 ...
September 30 ... 23,590,442
They are turning over inventory every 117 days.
The numbers speak for themselves. Demand for ROX products, especially Rum and Bourbon is growing stronger. It's not happening in a bubble. MGMT gets the credit for product mix and marketing. That includes staffing too.
All of that requires a growing investment. I have no problem watching the investment increase as revenues continue to surge, and the bottom line red GAAP continues to shrink. Whenever GAAP red turns to GAAP black, all of us will be able to say we saw it coming and got in early.
EBITDA is black and continues to grow. It's also accepted by the investment community to be a critical indicator of strength.
Now they made the investment in a distillery to increase their ability to better control inventory growth and improve bourbon's margins.
Everything is aligning for ROX's first GAAP black quarter, and then ROX's first GAAP black year.
I think we'll turn GAAP black for the 2015 calendar ending quarter and
see it in print on or about February 9, 2016. Not every quarter during the calendar year of 2016 will be GAAP black, but I believe every quarter during the fiscal 2017 year will be GAAP black.
ROX takes patience.
Enjoying the Jefferson's Reserve, and watching ROX grow is FUN.
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