Huge quarter for TGIS. Can anyone make sense of the numbers? Unfortunately, the CC isn't until Thursday. Stock will probably get a big pop tomorrow.
Q2 margins were 59%. I thought they said on a previous CC that normal margins are around 50%? Did Q2 include $1M in revenue that was pure profit? Even if it did, earnings still would have been around .20/share. And that includes some 1-time charges of $0.4M.
New orders and backlog may be a concern. During Q2, they signed $6.7M in new business...which was a sharp rebound from the $0.6M signed in Q1, but down from $14.4M in Q4. Backlog was $13.2M at end of Q2, down from $20.1M at end of Q1 and $22.5M at end of Q4. Unless new orders pick up dramatically in Q3, it appears quarterly revenue will fall back under $10M.
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