Well, my cash is a bit more positive than my earnings, as I automatically deduct $2m for non-cash items each quarter. I am not quite comfortable with the numbers output using tkc's Dell number and I wonder if I am double-counting unknowingly.
I am not sure how much the new sales staff kick in, but my hope is they drive SMA revenues up fairly quickly and Dell also recovers quickly as SEDs become mainstream (the old 100% increase per year makes things look good quickly if it sustains itself for a few more years).
As regards a major order, I expect one during this quarter as 6 month gaps between deals should be shortening towards 4 month gaps. And if I remember correctly, the idea was that the US defense industry would run slightly ahead of the DoD.
My guess is that the $2m requirement reflects all of this and that Feeney is being prudent from the perspective of late March. I don't think anything has changed for the worse since then.
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