Q: Hi, Could you please comment on Lumine Earnings release. Thank You
5i Research Answer:
Revenue rose 25% to $162.8M US$ from $129.9M. Organic growth was negative in the quarter. Operating income $36.6M, up 1%. Net loss was $2.2M, compared with a large net loss the prior year due to the conversion of preferred shares. Cash flow fell to $2.8M from $17.3M. Details in the release were very light, and there was no discussion on acquisitions. Investors will be a bit disappointed here with the weak organic growth. We will try and get more info but the company does not hold a conference call. On the surface, these are disappointing numbers.