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TeleCommunication Systems Inc. Message Board

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  • Keitern Keitern Nov 5, 2004 8:39 AM Flag

    Another view

    Yes, that is true. Tose' owns about 25% now. His selling was done in a completely above the board manner, he paid back his loan instead of seeking "forgiveness" like so many executives.

    Hokie1, Tose' has a stated goal of growing this business to 1/4 billion run rate in 2005. Brandt is projecting roughly 165M for the year as of today. I interpret that to mean that Tose' will seek organic growth and more aquisitions and attempt to have Q3 or Q4 of '05 hit roughly 60M in revenues. To do this he would need to increase TCS's best Q so far, Q2-'04 by roughly 50%. Now, if he can accomplish this without serious dillution and still maintain roughly breakeven results on a GAAP basis there would be no cash flow, correct? I see companies that have zero or negative cash flow that are selling at multiples of sales. I mean, get real here. You keep saying "focus on the bottom line" and "cash flow" and not on the top line. You write as if top line growth is no longer important. Well, I disagree. I believe that top line growth is more important with the caveat that as an end game the company becomes cash flow positive.
    hokie1, how do you percieve the risk here? At one point, I agree it was looking pretty risky. TCS debt/equity was creeping up and cash flow was looking pretty poor. Today, the guidance is for .00-.11 GAAP and decent ebitda. What are the chances in your view that TCS chokes on this and ends up cutting and running on LBS?

 
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