It looks like some shareholders no longer have confidence in this company and are selling off when they can.
All in all, it seems this company has some bad, bad karma. Minneapolis is a small town and Anly has abruptly laid off a lot of folks. This does not make Anly the most popular company around. Rather, those in Minneapolis like to brag about avoiding layoffs even when times are tough. Many CEOs would prefer steep salary cuts for themselves over layoffs. Anly just does not have this ethic so other companies will not rally around to save Anly.
There is a book called "Loyality Rules" and that is a lesson Anly did not learn. Now, it is probably too late. The company seems to have too much bad karma to make a comeback. The new CEO seems to have a lot of this bad karma stuck to her too. The question for this new CEO needs to be: "How many people have I laid off who feel personal friendship for me and will now be enthused about about hiring consultants from my firm?"
I could be wrong but that is the way it seems to me. Things do not look good for Anly under this CEO who does not seem to understand how to build loyalty and alliances. In the staffing business, loyalty and alliances can mean surviving or not. Loyalty seems to be in the blood, however, and I am not sure it can be taught.
I want to add that I often enjoy reading the comments on here. The last joke about "It's free" made me laugh out loud. I rarely do that when reading these boards.
the business is in fact being given away for basically free....laugh all you want....maybe that's all that it's worth.....but Rennaisance Technologies, a hedge fund with 50% annual returns over the past 20 years (and yes those numbers are correct) has a strategy of buying free and essentially free companies and sitting on these investments.....most end up either working out quite well or at least breaking even...obviously none are 5-10% portfolio weights.....as you will note, Ren. Tech. is a shareholder in ANLY and probably purchased most shares sold today.....they were also a shareholder in ExpressJet, buying all the way down to $2.50/share before company was offered a $6.75/share takeout......I understand your bitterness b/c you are in this business and it sounds like you were fired.....but best not to let your emotions get too involved in investing
The new interim CEO has been with the company for three years. In her first position, she was responsible for general management of business functions, and she should have helped control selling and administrative expenses. That she did not do apparently judging from the P&Ls.
Next she became a VP of sales but, unfortunately, she does not seem to have a sales background but rather a finance/accounting background.
Now she is CEO. One wonders why. When all is said and done, things to not look good. The interim CEO seems to be no charismatic leader. If she is smart, she will try to sell the company rather than further ruin her reputation as the previous CEOs have done.
The Anly CEO position seems to be a "no exit" position. Since all of the CEOs have failed, none yet seem to have gone on to another good position.
What should the astute investor do? I would recommend pushing for a sale while there is still something to see. Things go down, down, down.
not to sound like a broken record, but stock is trading at 20% to 25% of peer valuation......while I feel for folks that have owned for a while, this stock was trading much closer to a normal/higher EV/Revenue as revenue was plummeting in early 2008 (just over 2 years ago).....now revenue is stabilizing and the stock trades at a highly distressed EV/Rev. of .06x.....clearly this company should be sold, and it might be, but to say this stock is going, down, down, down is quite frankly stupid.....the stock is going nowhere but sideways until the company generates positive cash earnings or the entity is sold.....free cash flow burn will be close to zero going forward (as I promised before this last quarter)....market is confirming this with a stock price near net-net value
Amazing. Yes, the revolving door has opened again..welcome Brittany. Your credentials are a joke. Yes, please use the Obama administrations game plan, blame the last administration, claim the recovery is moving forward and keep running a deficit. If your MBA is worth ####, you should have learned to just sell the company.
This qtr will be hilarious! Why don't you guys invite Al Franken to provide so comedic relief during the call.
I've been in it for a long time, and the stock price has steadily decreased. They haven't turned a profit in any quarter as back as I can remember. That's why the price is so low. They just can't seem to make any money. Plus, this is a commodity business, so even if they do make a profit sometime if will undoubtedly be quite low. Finally, the management turned down a buyout offer a couple years ago and didn't even tell shareholders about it. Not good transparency. Oh, and they keep shrinking revenues.
They've been promising the market that Sept 30 and Dec 31 quarters will be profitable, so maybe the CEO's departure is an indication that this won't be happening. I don't think it is a good sign, unless it indicates there is a buyout offer in the works, but if that were the case I don't they'd announce the CEO departure until after the buyout was announced.
the company is basically being given to you for free and free cash flow burn is pretty close to zero......gross margins are pretty normal compared to peers.....so for me it has always been about keeping sg&a under control, which this latest CEO did, and increasing revenue, which has yet to happen