Can anyone address the drop in the backlog noted between the 3rd and 4th quarter results:
CNG gross revenue went frm $6.7M to $8.0M; however, the Backlog dropped off the roof from $18.7M in the 3rd quarter down to $13.0M at the end of the 4th quarter. To me this shows that orders expansion dropped considerably.
They discussed adding capacity on the call but im not sure if that happened last year or will happen this year. If it did already happen, that could explain the drop in backlog as they can now produce more tanks vs how many orders they had