Q: I guess SVM did not meet expectations so the sell off. Your thoughts please and debt load. Thanks
5i Research Answer:
SVM does not report full numbers until Aug 7, but it released preliminary revenue and this missed estimates ($81.3M vs $91.5M). The sell off was in line with the magnitude of the miss. Disappointing, certainly, but we need to see the full release in a few weeks. Even considering current debt and preferred share obligations, SVM has net cash of about $150M (as of March 31). We would see it as a HOLD pending more info.