{But it is in a world of hurt}
What hurt?
2Q:
Total Revenue of $30.1 million; up 9% Y/Y and 5% over 1Q.
Gross margin of $2.6 million, or 9% comopared ot 6% a year ago, and 8% 1q.
Positive Gross Margin in eight of the last nine quarters.
Revenues, 2012, up 24% Y/Y.
Revenues and Gross margins highest point in company history.
5 years of consecutive Y/Y quarterly revenue growth.
Cash burn of $2.6 million, compared to $7.4 million a year ago.
Cash burn used in operations dropped 66% Y/Y.
Strong cash balance of $45.2 million at September 30, 2012.
Order flow increase of 21% Y/Y
Improved DSO, inventory turns, and healthy cash balance.
Continued progress projected in 2nd half of fiscal 2012.
Higher sales volume of C-200s and C-1000s.
Higher average selling prices.
Lower direct material costs.
Selling, general and administrative expenses decreased $1 million in 2Q from 1Q.
Net loss was $1.6 less than 1Q.
Distributor network expanding.
Revenue from accessories, parts and service increased $1.3 million over 1Q.
SG & A expenses down $1 million, 14% from 1Q.
DSO dropped to 46 days from 59 days in 1Q and 77 days 2012
Strong collections of $34 million in cash.
Low debt with $12 million in Wells Fargo credit line.
Margin improvement projected for both 3Q and 4Q.