IPSU's cash position rose 42% from $13.9 million to $19.7 million while its SG&A costs dropped about 5% as a percentage of sales
Cash position is up $5.8m from last quarter, yes, but $3m of that is from higher debt. And inventory dropped almost $20m so I would have expected significantly higher cash than reported.
remember: Account receivables went up from %50 million to $56 million--so that accounts for another $6 million of cash used!
yes.but they used cash to pay the dividend and to procure additional capital improvements!
correction---- SG&A as a % of sales dropped 360 basis points from 7.6% to 4%--while the total expense dropped about $400,000 from $10.9 million to $10.5 million!