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Skullcandy, Inc. (SKUL) Message Board

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  • michaelsistowicz michaelsistowicz Nov 2, 2012 1:02 PM Flag

    Time for Management

    Chaz I always enjoy your thought out and researched comments.

    Here is a little venting regarding my 20,400 votes of confidence in SKUL.

    Besides having just taken a colonoscopy with a wire brush. I can say that the time for "play time" for management is over. It is pretty obvious to me that they are really into the "life-style" internal at SKUL. New offices, great big fat stock grants, party's all over the world (I just saw a video released on youtube promoting a new European office. Some skateboarder riding around the office pointing out the "video game room", Man cave with ping pong table, and more disturbing... saying he had to sign off to join the party going on at the "open bar".

    This all was "cool" when the numbers were growing, EPS and Rev was rocking. Now management downgrades the EPS by 15% for the year (and frankly sounded like they had been hitting a few too many "open bars" or "smoking rope").

    I'm stuck here holding my "unit" in my hand while the high-life is going on in Park City.

    They better stop smoking hemp, and start getting the bottom line sorted out!

    Having said all that, the product is not going down the tube (and that is not a skate ramp Andrus).

    Stop playing and return some equity to the shareholder and PREPARE for the next Earnings call.

    Sentiment: Hold

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    • Disappointing and you hit the nail on the head with all your points. If they reigned in the spending a just a little bit they would have beat the numbers and not had to reduce guidance. A few million in budget cuts would not have affected sales one bit. I had more hope for this management team than this... Disgusting really. Talk about being blindsided!

    • Well said Michael. I dumped 25% of my position this early a.m. Will retain rest and see if this is a wake up call to management.

      • 1 Reply to ggrail
      • Chaz, Charle, GG... Great product, well known and in my opinion growing. I'm in the same boat as Chaz, retirement funds (which makes it more unsettling with such a big hit). I'm in it to win it. Management Better tighten their belt this quarter (and I mean to the last notch and then pull hard). One thing that I forgot to mention earlier (and it has been bothering me) is they hand out promotional product like it's water. Keep on designing and handing out custom cans to every Tom Dick and Harry that is within a 1,000 mile radius of the "smoke shack" HQ in Park City. Andrus: Take a Breather!!! Get some receivable's in the bank. Run a tight ship this quarter. Close the open bar! It's war time. Tally the payback in Promotional Giveaways etc. after Full Year!

        Stop spending OUR money like a drunken sailor (or in his case a "stoner surfer"). Oh and don't hire an IR person but ASSIGN an Internal Marketing person or SALESMAN tasked to field questions and relay news about the company to Wall Street and Investors (dah!).

        Done venting... Felt good LOL

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