UPDATED @ 5:25 EDT: CFO Mullen (in an answer to a question) said the guidance will not be revised, but sounded less than certain that the deals they “expect” will actually get into 2017 — some may slip to 2018. So they aren’t updating guidance. And so, the stock will get HAMMERED, in the morning. That’s my guess.
- Won’t be cash flow positive, until mid-2018 — so says CFO Mullen. [End, updated portion.]
More soon — and I’ll listen in, to the Q1 results call — but (once again!) this is significantly WORSE (four pennies worse per share) than Lake Street Capital (and the company) had forecast.
Here’s the SEC filed item.
It is even worse than Craig Hallum had forecast (and Bob was too kind…), as well.
It is only one penny “better” than my doom and gloom scenario guess.
The miss was at the top line — at sales — with a “restructuring” of one big contract’s minimum ($700,000 worth), in Q1 2017 (revenue fell in Q1 2017):
As I say — more, after the call.
U G L Y.