losses last year and decline in sales alone of 22%. Sure they made $0.32 a share this quarter, but how do you recoup the $6.40 a share lost in a similar quareter last year. TEN should have reorganized under Chap. 11 to get rid of the massive debt.
Ch11 not an option at this point in time. They just raised money... would probably not even be leagal.
But Q4 earnings still benefited from CFC, so where will the earnings come from for next earnings? Market taking another dive... today i guess... Support seems to be now at around 18 but that will break and we will see 15
No Chapter 11 in TEN's future. All the "Big Cheese" would lose their uninsured retirement plans, future stock awards and stock options. Hey, at least give them credit for taking the initiatives to reduce debt, reduce costs and start "RIGHT SIZING" this company. Still plenty of work to do in North America, but ole Neil doesn't have what it takes to right size the shock business in North America. Just My Opinion.