QUESTION
- Will you be putting out the Q2 sales figures as a PR?
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ANSWER
The integrity of our financial information is vital. Informal guidance on the company’s weblog is one thing, a formal News Release on the North American disclosure network is another. That’s because a News Release requires more detail, firmer specifics and more final numbers, to be meaningful. It really does take several weeks to pull together such details, if one allows internal controls to run their course.
For example, we care about accurate inventory counts, accurate supplier billing (as determined by double checking invoices against good received), accurate delivery information, etc. News Releases about financial statistics should have the benefit of those layers of internal control.
Furthermore, although the healthy recovery of sales from Q1 to Q2 is encouraging, it is the reduction in the rate of operating loss that is the real story. That is more difficult to estimate informally, prior to the full application of the internal controls described above.
