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Demandware, Inc. Message Board

  • doublebagger448 doublebagger448 Jul 25, 2012 12:27 PM Flag

    12% DWRE customer files for bankruptcy!!

    From the 8-K.... http://biz.yahoo.com/e/120725/dwre8-k.html

    One of our customers, Neckermann.de GmbH, has announced that it has filed for insolvency proceedings in Frankfurt, Germany. In the first quarter of 2012, Neckermann accounted for 12% of our revenues. In view of the very early stage of these proceedings, we are not currently in a position to determine the effects of these proceedings on our business.

    Ouch...massive pain to a company that is already ridiculously over-valued. See you at $10.

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    • Just filed clarification that the company in question represented 10% of revenue for the recently completed quarter and they were paid in full.

      Further:

      "The Company has reached an agreement with Neckermann and the preliminary insolvency administrator of Neckermann whereby Neckermann will prepay the Company's base and other subscription fees per the current contract rates on a bi-weekly basis from July 19, 2012 through the balance of the third quarter provided that Neckermann continues to conduct its online retail business."

      http://biz.yahoo.com/e/120726/dwre8-k.html

      So...That leaves the door open for DWRE to collect either around $1.7 Million from this company in the current quarter OR $0 if the client discontinues it's online retail business.

      Basically...

      Odds are they aren't going to collect much of anything from this company that represents 10% of their current revenues.

      See this:

      http://finance.yahoo.com/q/bc?s=DWRE+Basic+Chart&t=5d

      That is called a LOW VOLUME GAP FILL today...after a HIGH VOLUME drubbing ysterday.

      And the CURRENT $23.80 is basically the low end of the 6 Million share IPO day.

      Usually...

      Not a promising setup for longs.

      We shall see.

 
DWRE
54.64+1.72(+3.25%)Oct 24 4:02 PMEDT

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