That has to be the dumbest reasoning ever. Maybe, just maybe the write downs had to do with the new regulations put forth that requires companies to value these underlying commodities based upon the average daily closing price of such commodity during the quarter....hmmmmmm.
I can't say I'm disappointed in these results.....definitely an improvement from last year, and case sales are continuing to trend in the right direction. It looks like 3Q, should post somewhere in the $4.8-$4.9 million in revenues, which, if margins and SG&A stay on track with 2Q, could possibly put them over the edge in to profitability.
Any guestimates on earnings this go around....it's a nice little game to play every 3 months or so. How disappointed can we get ourselves?
I NEED to see a loss under the $200k number in order to keep my sanity here. Exchange rates will be more of a drag than last quarter, how much more, I'm not sure. Sales should be up, and hopefully costs are down. I would guess for a loss of $150k, but like I said, anything more than $200k and the quarter is a disaster.
Actually, that would mean the overall rate during the 2nd quarter would be worse than the first....if you take an average of the rates. 1st quarter average from beginning to end would be 1.2143. 2nd quarter average from beginning to end would be 1.25084.
As it sits right now as of typing this, I'm seeing the Canadian dollar at 1.29. This is a bad trend. If the US does start raising rates this year, it's likely only going to get worse.