The earnings and revenue numbers are pathetic. Comparison to 2009 numbers is a lousy attempt to make it sound like new Mgt is making progress. In reality, revenue is WAY BELOW historic highs, and way below where it should be for the fantastic product they have.
BUT, this investment isn't about current numbers. This is about whether C&C can now build a large business on this product, in a way that benefits shareholders. It is about capturing the potential. The important part of the report and conference call is the information about retail partners and plans.
What did you think was so great about it, they only earned about 3 cents and did you notice they have about $37 million in inventory??? For a company with only about $10 million per year in sales that is terrible and could lead to a massive write down. See what they said about inventory here:
Total inventory, including long-term and consignment inventory, approximated $37.7 million as of September 30, 2010