CUO- Just looked at 10Q- I'd be careful
Had they not had the $2.8M in the Windmill project, they would have posted $40M in revenues. We don't know the margins on the windmill project, but I believe they were high. Why ? Because overall margins for the qtr were 22.5% vs 19% last qtr.
If we use the same 19% margins last qtr on revenues of $40M(assuming no windmill project), they would have only posted $786K of operating income(as S,G&A was considerably higher than last qtr) ! Take away the $113K interest expense takes you to $673K, and tax that at 34%, takes you to $444K Net Income for the qtr ! You can figure out the rest !
