You and I have both been critics of the current management for years, but except for the part about the proxy, that I support for the most part, I agree.
A very nice quarter! I happened to be off-grid in N. Wis the last couple days many miles from cell phone coverage and just returned home.
In many cases companies mis-use the term nonrecurring expense. In this case, the $400k really is a nonrecurring expense so legit to mention it and good they mentioned it.
Profits (bottom line net income) really do seem to be strengthening. $500k on $3.4mil is a bottom line net income that is 14.7% of revenue. Super healthy. The net cash generation is also extremely healthy.
EPS through Q1 and Q2 is now pushing 2 cents. Falls just a bit short of 2 cents. Seems likely the FY will finish with EPS above 3 cents and maybe as high as 3.5cents.
With this sort of continued strong performance, the company will eventually get their PE of 25 or 30. Sept 16th is going to be big! Webcast! questions! presentation!
Only sad thing for me is I missed a chance to buy a few more shares but with volume of only 600k none were really available. It would seem the holders are starting to pay attention and get smarter.
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