Thursday, May 19, 2005 1:12:34 PM
I quoted from Paul but I work for software company and if we got a committment for software in 10/4/04 that got delayed until 9/05 yes it would still be on the backlog. We categorize our revenue backlog based on the % of closure and this one seems to have fallen to a low probability IMO. As a matter of fact there would be no press release on letter of intent business until the order was firmer and shipped and revenue could be recognized so the "egg on the face" does not occur as in this case.
With the stricter laws the wording of the PR is interesting and I am surprised there was not a correction "VirTra Systems Sells 15 Simulators to Mexican Government - VirTra Systems recently received the purchase order for 15, and as many as 20, systems for near-term delivery to Mexican governmental agencies. The transaction, worth a minimum $1.7 million, is the largest sale in the company's history."
It is a major issue when the largest order to date is delayed almost a year for this company. If it has been delayed this long can you feel very comfortable about a fall close? Kelly has bought another 5 months but if this PR gets a birthday 10/4/05 - it would not look good. Agree?
All IMHO
These are my personal comments, observations, opinions and should not be relied upon for any investment decisions, and as always read the SEC filings for the facts of the company
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