Is anyone still really unaware of how monumentally significant it is that AFFY is not having Earnings webcast?
Folks, this is a humongous Red Flag. If you can't see this Red Flag waving then you must be blind. It is actually more clearly seen as a White Flag by those who understand. People, if there were ANY hope for recovery, there would be a webcast announced for Earnings which are overdue per SEC guidelines. The CEO and CMO and others are known schmoosers who can sell ice cubes to eskimos. Even they are chicken to get onto a webcast to face Q&A. This is so blatantly obvious. I am assuming that you chumps know all this but would rather bury your heads in the AFFY quicksand. Maybe that is the best thing to do, all things conidered. Please continue with that strategy and ignore the waving flags.
Earning is a backward looking statement. What would it mean if they said they beat forecast when the product was taken off the market eliminating forward earnings.
The key to earnings is getting the product back on the market. To that end the investigation just started so no news on this. I am curious with the product withdrawn and the investigation just beginning what is it about the earnings call you think is significant.?
The fact they have not files doesn't mean they won't. Lets spin this.... maybe they believe the investigation will not take that long or better yet looking at what label change would allow the product on the market again.
I agree that if this were simply about true earnings then it wouldn't matter. But this is about communication from the company at a time when every single company with any shred of integrity communicates with the financial community and the shareholders. If this were not acknowledged as a fait accompli, then financial analysts would be clamboring to get in their questions on the Q&A session that would be scheduled. It is unheard of that a company simply dismisses issuing their Earnings and - more importantly - faces all significant questions about the status of the company. In this case, obviously the questions would be about the recall, BK potential, etc.
I am astounded that so many people do not see the writing on the wall. It now seems that LAFFY will sneak out the Earings in the still of the long weekend (as GW correctly pointed out) and this can only mean one last gut-wrenching round of very bad news over the weekend. I will be surprised if it plays out otherwise.
I know a lot of people here have been involved with stocks that have been 'Halted' and then never opened again, they simply went BK and were gone. For those who have seen this, they never forget. For those who have not seen this, they do not understand that it can happen. And when it does happen, the preceeding events are very consistent with what we now observe with LAFFY.
I would like to see the accountant's opinion of AFFY as a going concern. The 3rdQ 2012 10Q surprised analysts when O sales failed to meet expectations, but AFFY explained it away as seasonal ordering patterns. I would like to see how sales of O were in the 4th Q 2012 prior to the recall. That would give a good indication of how O was being viewed by the nephorologists who were actually prescribing it to their patients. The cash on hand and reserves set aside for contingencies are another thing I would focus on. Since the recall happened in 1st Q 2013, the end of year for 2012 may not be as relevant.