Avid Bioservices Inc (CDMO)

[cjgaddy]

Cash Burn Rate for Q1(q/e 7-31-16) rep. 9-8-16: $9,607,000

OPER. CASH BURNS* BY QTR (FROM THE 10-Q/K’S):
FY16Q1 7-31-15 12,306,000 (from 10Q pg.25)
FY16Q2 10-31-15 11,701,000 (Q1+Q2: 24,007,000 10Q pg.26)
FY16Q3 1-31-16 15,086,000 (Q1+Q2+Q3: 39,093,000 10Q pg.27)
FY16Q4 4-30-16 10,112,000 (FY'16: 49,205,000 10K pg.39)
FY17Q1 7-31-16 9,607,000 (from 7-31-16 10Q pg.22 http://tinyurl.com/jmy77g3 )

9-8-16/PR: “Avid's current mfg. revenue backlog is $71 million… The company remains on track to generate revenue in excess of $20mm in Q2FY17 (q/e 10-31-16 rep. ~12-8-16)” http://tinyurl.com/jydtkoy (Cash 7-31-16=$44.2mm)

• Avid’s Gross-Profit over last 4 qtrs(thru 7-31-16): $19.2mm on revs of $40.6mm (GP%=47%)
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Latest 10K 4-30-16 iss. 7-14-16 http://tinyurl.com/zgognwz PR: http://tinyurl.com/h8eqtg5 (Cash 4-30-16=$61.4mm)
Latest 10Q 7-31-16 iss. 9-8-16 http://tinyurl.com/jmy77g3 PR: http://tinyurl.com/jydtkoy (Cash 7-31-16=$44.2mm)
ALL SEC filings for PPHM: http://tinyurl.com/6d4jw8

*The 10-Q’s define OPER.BURN as, ”Net cash used in operating activities before chgs. in operating assets & liabilities”.
The 7-21-2001 10Q explains OP.BURN:
“RESULTS OF OPERATIONS. Before we discuss the Company's total expenses (cash & non-cash expenses), we would like to discuss the Company's operational burn rate (cash expenses used in operations, net of interest and other income) for q/e July 31, 2001 compared to the same period in the prior year. The operational burn rate is calculated by taking the net income (loss) from operations and subtracting all non-cash items, such as the recognition of deferred license revenue, depreciation and amortization and stock-based compensation expense.”