Fact: While funded backlog will go higher, it’s a mirage. Leigh Alper is correct, and he does wonderful due diligence. CPI will get a release from Northrop for maybe 35 E-2D’s, which they’ll tell us increases new awards (and funded backlog) by $70 million or so. But again, so what? When we were told that the contract had a potential of $195 million, and Ed stated over and over that it’s a program both sides of the political spectrum agree with, didn’t we think then that we’d be getting this? Is this “exciting news?”
Fact: If CPI pulled in $200 million worth of awards from that chart, but no NEW work, the fact is that TOTAL backlog would go down by whatever unadjusted sales ended up being. Meaning, if they book $90 million in sales without the A-10 adjustment, and don’t book any NEW business, overall backlog will go down $90 million. Think about that. Even if they win a $50 million brand new program with a brand new customer, total backlog will still go down by $40 million!
Fact: Cash flow will look great, but not because Vince has a clue how to manage it, but because when you have no new programs to invest in, it better be positive. So don’t take the bragging about that as something good.
Fact: If you continue this trend, you go out of business.
It's all right there in the public domain. You just have to know how to sort through it.
No matter why he left, no matter what garbage went down between him and the board, this company is so much worse off without Ed. Doug wasn’t equipped to be CEO and is destroying the company. And Vince is nothing more than a bean counter. Have you truly watched or listened to either of them present the company to investors? It’s downright sad. Ed had a passion, was well respected, and could command a room. Not the case with Doug. He just drones on and on, bringing nothing to the table, and trying to fool us with his words.
While he was out doing road shows last week, I guarantee you he pushed that tired old line about ending this year with “the highest funded backlog in the company’s history.” The real question is, so what? All that means is that he’s moving stuff from column A to column B. Stuff they told us would happen, and that they’ve already gotten advance credit for.
Fact: While “funded backlog” might go up, the more important number, total backlog, is going down, and going down fast. Look at the presentations. Look at slide #10 of the latest presentation. The aggregate value of those programs was $391 million. The presentation before that was $410 million. If they don’t take the chart out of the next presentation after seeing this, that number will be even lower again. Why? Because without winning NEW work, they are working off the backlog until they get to the day that there’s nothing left. And that drop was without accounting for the removal of the A-10 dollars. Yes, they stopped that arrow at 2014 for the program, but did they pull out the $27 million that won’t happen now? Nope.
Fact: Whether you liked Ed or not (I didn’t), he is the guy that grew this company. It was around $10 million in sales when he took over, and almost $90 million when he left.
Fact: As Boolean will attest to, the stock price was down in the $2.00’s when Ed started, and he had it up in the $16.00 range more than once. A lot of people made a lot of money.
Fact: As of one point last week, the stock was down $5.00 since Ed left. That’s $42 million in market cap.
Fact: Almost immediately after hearing Ed was gone, Roth dropped coverage on CPI. Big deal? Not really, but what is, is that they won’t be presenting at the largest small cap conference every year, where they were a darling of the investment community. From prime presentation times to great one on ones, to dumping them after they saw Doug present days after Ed left/resigned.
Much more to come. And we all just laugh at Doug now.
Your silly statements about calling the company and telling the insiders to buy shares is like me telling you to buy General Motors. After regulation FD was passed there are specific restrictions on buying and selling shares by insiders. In addition, if any insider bought shares based upon your instructions, I would sell all my shares and declare these directors as dumb as you sound. Directors receive options as a way to compensate them for being on the board and directing the company. If the stock does not appreciate, then the directors do not benefit monetarily What part of this do you not understand?
Your sad support for obauma again shows why this country is so divided. He lies and some of the American people believe him. Blind support for a proven liar and to think he is like a god is very sickening. You are not an independent if you support the socialistic policies of this poor excuse for a public servant. He is worse than Carter and even Carter comes out and says that obauma's policies are wrong. Remember that the Democrats controlled all of the branches of law making when obaumacare was shoved down our throats and only Democrats voted for this bill, that then became a law. these socialistic clowns can't even get a web site correct. No boonlean, you need to spend more time at Glacier N.P. if you believe the current potus is anything but a complete failure.
no - Bush/Cheney was the worst president in the history of mankind - thye sold out our military and the country and bankrupted the world. Hey Obama ain't no gem but after Bush/Cheney he is like a god....well.........a frog any way. Congress is just as bad or worse. That far right wing Republican lean has to stop and the real Republicans have to come forward and take back the party. I am independent. good luck. No hard feelings - remember they are just.......feelings and I happen to be more right is all.
Insiders come on buy some shares before you big conference in November -- oh so exciting I can't wait to hear why we should buy shares - oh yeah so you can sell yours at a higher price. Got it. Boolean
It is too bad that you continue to support the worst president in modern US history. This president continues to treat our veterans like second class citizens at the VA. Your failed obaumacare has raised the premiums and deductibles for all working Americans, while under this president the welfare rolls have increased to over 47 million and there is now a record number of Americans living in poverty. Let's blame in on Bush does not work, as the American public now gives obauma the lowest ratings of any sitting president since these numbers have been collected. How many cabinet heads have been fired or forced to resign under this failed socialist agenda? Lies and deceit are all you can expect from obauma going forward, and we certainly get that from him every day. Six years of failed socialist programs. They have failed everywhere else in the world and now are failing in the US.
bush and cheney some how come back and save them with wars that destroy the USA's strength and will and throws our soldiers into meaningless and failed wars. Ain't gonna happen. So kids call the company and see what they tell you why they are not buying shares on the open market. Go ahead hot shots. Ask them.
how's your CPI aero doing????? How do you guy shares - well you buy them and then you allow a disaster management to sell the B and give shareholders a G.......they don't BUY they GUY -- and shareholders are left holding the empty basket.
too small to bring in a Carl Icahn or other power money to break up this charade --- that FACT that they just keep selling and never guy shares speaks volumes about their character and management skills. ZIP-ZIPPO.
No, it means there is a set quantity of 25, and the bidders shouldn't expect that any more will be requested. So no additional option to purchase "x" more. 25 and that's it.