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WEX Inc. Message Board

  • ericvann2000 ericvann2000 Nov 6, 2008 5:06 PM Flag

    Earnings report

    Holy cow, positive earnings! Can such things be? Anybody think this is the beginning of a turnaround? Anybody awake?

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    • Time for this company to square up and get real, COGS are consistently 85 - 88%.

      Gross % of Revenue 9 Mos Ended: 10.30%

      3Mos Reported: (.19) 9Mos Reported: (.42)

      GP: 1.9M

      Oper Loss: (1.297M)

      Loss before Tax: (1.384M)

      Tax: 150K

      Net Loss: (1.534M)

      xxxxx OK we get it!!!!! Quite frankly, tired of it as well.....Time to MOVE FORWARD!!!!!

      The balance Sheet nets out except for:

      PPE @ .75: 3.26M
      Inventory: 3.82M
      P&L:
      GrossMRQ: 1.855M

      Total: 8.93_5M

      Shares: 3.67M

      Factor to Shares: 2.43

      Price to EV: .37

      Inv Turns: 5.28, 69.128 Days, AR Turns: 6.93, Days 53

      4 Major Customers, account for 70% of Sales, which accentuates the high COGS number further. You would believe that they would have a handle on 70-75% of the business. ie; Planning for Demand / Sales Forecast, Required Inventory, while avoiding waste or obsolescence, production issues, etc; (Co. states 60% of AR From these customers)

      Summary: Revenue Annualized Consistently: 24M

      COGS Annualized Consistently: 21M

      Net: 3M

      Per Share:.82 (Fairly Priced Considering the current situation)

      This thing needs plenty of planning and structure. Sell with near term: .75

      Note: Apparently they did not like my Mantle like Blast in May-84 @ Haverford High School, after being somersaulted by high cheese / chin music.....Do not feel bad, it was not very popular then either.....hahahaha!!!

    • Squeezing 3 cents out of the quarter was easy with layoffs, cost reductions, and some luck on a couple of key "cash cow" accounts. Now it remains to be seen if they can truly find and execute on new business. By next quarter, we'll see if dePetra has truly led with good choices, or if he just moved the deck chairs around on the Titanic.

 
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