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Velti Halka Acık Limited Şirket Message Board

  • davecarneyinc davecarneyinc Mar 26, 2013 9:01 PM Flag

    Important question regarding CFO for investors here

    I noticed that the CFO increased the allowance for doubtful accounts by $6.4 million this earnings, and also took a $16.9 million write-down for impairment of intangible assets this quarter. These two items alone reduced earnings by 37 cents for the quarter! Did the CFO purposely tank the stock at this time of year so that these guys can issue themselves a bunch of cheap options or stock grants? That's sure what it looks like to me. I think CFO will then bleed these back into earnings over next 3 quarters and push earnings and the stock back up. I would appreciate any comments from people that know this CFO. TIA

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    • I used to work with Jeff (CFO) at Price Waterhouse many years ago. He is a real honest and classy guy, and I would trust my children with him. Haven't seen him in many years, so unless he has changed a lot from the 1990s, I don't think he would do anything nefarious or unethical.

    • Exactly. It's couched in "let's clear the air, let's reset and start fresh, blah, blah, blah...

      And it is not illegal. In fact, it happens more often than you realize.

      Time will tell, but a year from now, I'm betting the stock price is back to at least 4.

      • 2 Replies to pylesm
      • If Ross does what he has stated he will do with increasing the quality of revs and creating free cash to the extent he has stated - the company will be back to 'normalized' valuations - on an EBITDA, REVENUE, EARNINGS, DISCOUNTED CASH FLOW basis ---- there is not one of those valuations that would give you a price target under 10 in 2014.

        Do the math. We just need Velti to let us all know they are off life support and mending in the 2nd Q.
        The street LOVES Jeff Ross. Just watch. NONE of this has to do with Jeff....but it will have everything to do with him.

        Those are HUGE free cash flow numbers Jeff is standing on in 2014. $40 million. WOW! And for a company that has never had Free Cash Flow to be Free Cash Flow positive in a year of transition ---- that is huge in itself.

        The man is a Rock Star. Just give him time.

        Jeff is all about shareholder value.

      • VELT is finished dude... 2 more quarters of disappointment and it lights out. CFO, CEO and directors are going to suck the life out of it... and most likely do a secondary for another cash grab before the lights go out..

        Sentiment: Strong Sell

    • If true, is that not illegal... Or just normal business in the global marketplace...