Q: Quit announced so-so results. Were these expected? What do you think lies ahead? How do you rate it
5i Research Answer:
Revenue of $45.3M missed estimates of $48.1M and fell 5%. Loss per share was worse than expected. EBITDA of $4.35M was 34% worse than estimates. QUIS implemented cost reduction measures in July but they have yet to kick in. EBITDA fell 37%. Nearly every other IT company has reported at least growing sales, and the results we think are worse than 'so so'. The stock is down 61% YTD and these results are not likely to help the stock.