:)))I like you shorts, without you guys the market will be real boring....9b debt, is that all you could find? how abou cheking rev? earnings? how many fu$king companies beat the est. in the 1Q? how many? plus the market is in chaos!!!yet despite that IAR managed to make money...
The really interesting aspect of their 1st Quarter results is that their selling cycle is not a calendar cycle. Their first quarter results actually comes from their third quarter sales - which traditionally are not as high as their first two quarters of sales. Combine that with the cost saving measures they have taken (RIFs, cost saving measures, etc.) makes their bottom line much stronger.
I believe that as they said they will continue to find other products they can offer their print customers to help offset declining revenues. They will also continue to find ways to operate more efficiently at a lower cost.
And all of these activities have been done with "interim" executive management.
All of these points have been belabored on this board for weeks. "This company should cut costs, this company can't do anything with acting execs," etc., etc.
It would seem that acting or not, the management knows what it has to do and is marching toward that aim.
Congratulations to them for 1) listening to shareholders and others; 2) taking drastic steps to improve the company's bottom line.
Most of their $9 billion in debt does not become due until 2010, and the reason they have so much debt is because that is how much VZ strapped them with after the spinoff. The are paying on the debt now, and stopped the dividend to show profits; but sooner of later they will either have to refinance and restructure their debt (which in this market is just about impossible) or default. $9 billion is a large number; and you should really read their prospectus before you invest.