I took 30% profits above $6.00 recently as I have been selling into market strength and raising cash. I like PCTI's business, but am concerned about the 2ndQ results. 1/2 of antenna sales are "land mobile radio" sales to state and local government police, fire and homeland security. As we all know most states are hard pressed for revenue-some are even laying off police and fire ditto for local governments. In addition, if I understand the situation correctly, w/r to scanner sales, a very good long-term business, one of PCTI's competitors bought a distributor that is an important client for PCTI. It would not be too much of a stretch to think that competitor will substitute some of their products vs PCTI's.
I will be looking to buy again, but I'd like the market to pull back to 850 or so on the S&P 500 and see what happens after 2nd Q results are released.