|Badger Daylighting Ltd. - BAD.t is North America’s leading provider of non-destructive hydrovac excavation services.|
Key technology is the Badger Hydrovac System, a truck-mounted hydrovac excavation unit that is used primarily for digging safely in areas with buried pipes and cables.
On August 15, 2017 the media released News
Post says short sellers keep up pressure on Badger
The Financial Post reports in its Tuesday edition that Badger Daylighting hiked its monthly dividend after posting better-than-expected earnings Monday, though short sellers continue to voice allegations about the company's accounting and disclosure practices. The Post's Geoffrey Morgan writes that Calgary-based Badger, which runs North America's largest fleet of hydrovac trucks, reported $123-million in revenues in the second quarter, up 34 per cent from about $92-million in the same quarter a year earlier. The company stated its net profit was $15-million in the quarter, which is more than double the $6-million it reported a year earlier. Still, Badger's skeptics continued to criticize the company, alleging its financials could not be relied upon because it reported almost $9-million in revenues for which the company had not yet invoiced or collected receipts. "They're not only counting revenues they don't have invoices for, the invoices are jacked up in June," said short seller Marc Cohodes. Badger reported $60-million in non-cash revenue, labelled as trade receivables, in the month of June alone, Mr. Cohodes said, adding that represents half of the company's revenues for the quarter.