Greg Wendt's questions to MIL leadership • Q3 2015
Question
Greg Wendt of Morgan Stanley asked for details on trade receivables aging, inventory valuation methods, the nature of the bank being acquired, its expected profitability timeline, and any public comparables for the new business model.
Answer
CFO Sam Morrow explained that receivables aging is managed and inventories are marked-to-market quarterly, with no unhedged long positions. He described the bank acquisition as a 'Greenfield' opportunity, not a distressed asset purchase. CEO Gerardo Cortina noted they can begin offering services immediately to their existing customer base. Morrow suggested Bladex (BLX) as the most apparent public comparable and agreed to consider a post-close conference call.