Mr Palle and Mr Scharmett up for reelection to BOD.
"James H. Williams has been one of our directors since February, 2015. He was also a Director of Blonder from November, 1988 to May 2006, and served as our Chairman of the Board from November, 1988 until November, 1994. From 1995 to 2014, Mr. Williams served as a consultant to us under a written agreement, which agreement was terminated as of December 31, 2014. Mr. Williams is the uncle of James F. Williams, one of our Directors."
" In light of the resignation of Mr. Luksch as our Chief Executive Officer and Chairman of the Board, the Board has determined to take a fresh look at its corporate governance in this and other areas. The Board has also determined that in the interim while this review is being undertaken, Mr. Pallé will be delegated the duties and powers of the Chief Executive Officer of the company, ensuring continuity in day to day management and operations. The Board believes that this delegation of interim authority to Mr. Pallé, will continue to promote the development and execution of our strategy and facilitate information flow between management and the Board, which are essential to effective governance....Over the next several months, the Nominating Committee will evaluate and make recommendations to the Board regarding our existing and alternative governance policies and procedures, such as having a lead independent Director and separating the roles of the Chief Executive Officer and Chairman of the Board."
"Mr. Pallé voluntarily reduced his annual salary to $196,809 effective February 1, 2015." Reduction from $328K. No similar reductions noted for Emily Nikoo, Exec. VP ($220K), Nezam Nikoo, CTO ($180K) , or other executive officers.
I unloaded my position today @ .96 for a big .03 profit. That little bit of news was a gift from above because I really didn't want to hold this miserable stock for weeks or months.
Yes, management was very defensive to the point of being rude to some very polite, well intentioned, and nicely presented questions.
The new TV's are 4k so this equipment is a must have for the cable franchise industry. Also, the latest quarterly report was all about a seasonally weak quarter for this company and the industry it serves. A loss is normal for the quarter ending in December because during the winter months the company doesn't get as much demand for it's products. Now that customers have climbed the poles and listed their equipment needs, BDR should get purchase orders. The orders are probably in the mix. This 4k standard equipment is a must have piece of gear.
Anyone know if this new piece of equipment they are marketing at the Vegas show is a big deal? I have no idea what they are describing or how to quantify potential new sales. Is it something no one else has? Is it worthy of the pick up in trading and stock price today?
BDR popped up on my radar screen recently, read their last conference call, absolutely disgusting management:
Robert Palle, BDR: "... we recognized a loss of $902,000 in 2014. This is nothing new ... as the company has lost money for the last several years."
Eric Skolnik, BDR: "I prefer not to discuss that."
Robert Palle, BDR: "I guess, we’re here to listen, but we have already addressed it in the prepared remarks."
Answer to a question concerning cost reductions by Robert Palle, BDR: "Most of it is headcount reduction."
Question by Richard Greulich, Analyst: "I was curious, so in February you increased the size of the board by one. What was the thinking there?"
Answer by Robert Palle, BDR: bla bla bla ...
Question by Richard Greulich, Analyst: "I found it somewhat curious, to allow the board members to receive their comp at least up to two thirds of their compensation in cash versus stock, given what you’re trying to accomplish in terms of cash savings, why not just require all compensation be done in stock at this point?"
Answer by Robert Palle BDR: bla bla bla ...
Apparently no one here knows the reason someone would keep selling 100 shares every two/three minutes. If they wanted to sell 5,000 shares, why not just sell them? Why parcel them out in tiny trades all day long? What is the point?
Because the shorters already cleaned up and there's no one left to sell. The stock is technically way oversold and the least path of resistance is up. It may take a week or so to bottom out.
The CC didn't exactly illicit excitement. We'll see what happens in May when they release their next quarterly earnings. Even then, I don't expect much action, unless they surprise. Or in between now and then, they talk about the candidates for the next CEO.
Amazing how recent days each traded hundreds of thousands of shares and today, now, there is hardly any volume. And what is the deal with all these teeny little 100 share trades that hit every few minutes. What is the point?
Where are you in from? I bought in the 90's the day of the plunge.
Give it some time to bottom, it should bounce back to the $1 level on a purely technical basis. 80 cents is utter stupidity.
"I agree that there will be a support level sometime, just have to look at the historical record"
The stock price is the lowest it's been since 2001. Only a complete idiot would still be shorting/selling at 80 cents.
I'd say yes, as evidenced by the speculation with DirecTV. It almost went up $2 in 2Qs. That's in addition to solid earnings.
I agree that there will be a support level sometime, just have to look at the historical record.
They definitely won't go out of business, they just need a strong CEO and/or better sales force. They need some closers. From the way the CC sounded, it seems the customer is in charge of the sales process, and not the other way around. Sales controls the ability to do the forecasting, but the way it's been going, I'd fire them all. Alan Baldwin style from Glengarry Glen Ross.
It should be a clue when management sells stock in the company rather than buys it...
Yes Bob, consecutive annual losses since 2010. And it isn't just the timing, unless we're talking geologic time. It's expenses consistently exceeding revenues. The bank forced rationalization just might be the medicine this company needed.
You really think the stock would have gone up $1 (as it's gone down $1) if they had positive guidance? Come on. I think we all understand about the bad quarter and guidance but at some point the price gets low enough where there's no one left to sell. They aren't going out of business and will finally have a new CEO which the market cheered before the earnings report. Here come the .70's sell sell sell.
I don't think it's just the one bad quarter, but the prospects for the future. It's hazy at best, and guidance from management is opaque at best. I really don't think the shorts control the market. If they (management) actually offered up positive guidance in the new year, BDR would've really gone up in spite of the bad quarter.
But, like Palle said: "Despite the increase in sales for the year, we recognized a loss of $902,000 in 2014. This is nothing new at BT as the company has lost money for the last several years. We’ve also struggled to accurately anticipate the timing for successful conclusion of a number of projects over the years with the big box store deployment in 2014 being one of those."
One bad quarter and the stock plummets to all-time lows since 2001 but if the quarter was good the stock would have gained maybe 15 or 20 cents. Just more proof that short sellers control the stock market. Help the sky is falling.