The Annual Report SEC Form 110-K filed yesterday left me very perplexed. I wonder how many of you readers feel the same way.
The Good news being their very large backlog compared to last years, a very positive position to be in. But the bad news was predominantly dealing with their perception of the Risk Factors. This part of the report, apart from the fact that it represented the largest portion of the report, it had the effect of suppressing the good news about their healthy backlog.
Then, the second largest portion of the report hovered around the FCC licencing freeze; an issue of secondary importance to us investors.
I know that Itron management have a class action to deal with because of their former reporting techniques, but this was a serious over reaction on their part. They went way too far this time creating a series of negative perceptions of what may happen in the future; thus self inflicted themself a big blow.
It reminded me of of the warnings one gets when buying a power tool whereby, if one reads less than half the warnings and disclaimers, one becomes terribly afraid to ever use the stupid tool.
Well, as we can see from this morning's market reaction which brought the stock price down 13/16 (as I'm writing this post) Itron just managed to scare the heck out of prospective investors as well as its long term investors, including yours truly.
I wish that Itron's Management occasionally reads this board and learn something about their Share Holders feelings and interest. I can appreciate Management memebers writing memos to file, if indeed they just want to protect their own personal interest. That would be a normal procedure.
My grandma tought me a good habit: When you don't have anything nice to say, keep your trap shut. Of course, I'm translating it from Sicilian dialect, so it looses some of its effectiveness; but you would understand what I mean........... and I hope that Itron understands it too.
I'd like to be able to attend the Share Holders Meeting in early May as I would like to see some of these Management peaople in person.
Itron is a good company trying real hard to adapt to new situations and market trends; so,let's all be positive minded!
If any of you readers have any comment on this report, please share it with the rest of us.
Regards to all Itron Investors,,,,,,,,,,,, Itausam
itausam: Maybe Itron's boilerplate language is excessive for Itron. I don't know. I have mostly tech stocks in my portfolio and compared to their reports, Itron's cautionary language is moderate. Itron's report didn't bother me at all. skeptically
Hello Itausam and Muley, Thanks for your postings. Itron is a small company going big. It's making adjustments in products and management to succeed. Their success can be validated by Schlumberger actions to join a wining team. As far as your positions, you only lose money when you sell your stock; so the future seems bright. sounds like Itron is responding to customers needs and requests about their products. The SCE deal may hinges on their internal factions:regulated vs non-regulated utilities departments. If they do stop pushing back the contract decision, ITRI will zoom upward! Because Itron's production capacity is underutilized now, they'll remain profitable if when the deal is finalized. After Calf. dries out from El nino damage, SCE will probably be better able to see how much they can invest/afford. Because as any business knows; efficiency means profit, and AMR is that! Pinetree