Way to sneak out the share repurchase before they crapped everywhere on earnings. I feel bad for the guy(s) that bought 3k shares alone on the share buyback afterhours, only for SRSL to deliver that craptastic report.
Any dip will be bought...25% guided yoy growth for 2011 is impressive and likely to be raised in coming months providing additional upside.Netting out cash and factoring the growth rate this stock remains very cheap.
What you forget is that they said 25% growth or better for 2011 last report.
Now it's 25%, but don't be fooled, that's one a lower rev base of growth thanks to the q4 miss. Don't forget to factor that in. (example, if they did $20 mil in 2010, 25% would be to $25 mil... but if they only did $15 mil, well, 25% would only be to $18.75 mil).
Putting out a share buy back before earnings release should've been the big clue earnings was sneaky and shortsighted. They cost some poor saps last night who bought on that release, then they put out the stinker "earnings."
Oh and if you listened to the call, the royalty mistakes haven't even been solved yet. And if it's true that some of 2010 got pushed into 2011, well, that even further reduces what their growth should be for the coming year.