This probably explains some of the margin compression lately. It was in the Q3 report and I ahdn't noticed it before-
"A major customer of Pharma-IR, which represents 10% of the Company’s total consolidated revenue for the nine months ended in July 31, 2012, placed Pharma-IR in a probation/review period which included the reduction of billing rates. Consequently, in order to maintain market share within Ireland, during the three months ended April 30, 2012, Pharma-IR reduced its billable margins to this customer and committed to an improvement on the level of service. Although management is actively pursuing new business development strategies geared to diversify our Ireland market customer base, at this point in time it is uncertain if these strategies will be able to produce the results necessary to offset the loss in the Ireland market margin."
All IMO only.
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