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Skullcandy, Inc. (SKUL) Message Board

  • chaz16669 chaz16669 Nov 2, 2012 10:04 AM Flag

    Time for Management

    to step in with a share buy back announcement at these prices. I would think they'll be collecting on those $60 mil of receivables and can use some of that cash to buy shares at these prices.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • What I overlooked when investing in this company was the very large stock based compensation expense buried in G&A expenses....about $36 mil over 3 years (2012-2014). Are you kidding me? This is a significant hurdle to climb trying to grow EPS. This expense in itself is the equivalent to $1.25 EPS (pre tax).

      Sales and margins are getting all the attention, but this expense should get some coverage and further explained. Hey, good for the handfull getting this comp, but not so great for the EPS of the company. Stock based comp is hitting the EPS (after tax) for 6 cents a share each quarter....yikes.

      • 2 Replies to chaz16669
      • 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

      • Thanks for breaking out the numbers Chaz. I brought that very thing up months ago, before you were posting here, back when Payne was preaching against the evil shorts and prophesying a rapturous squeeze. I was a reed shaking in the wind, my warning of the enemy within was only met with praise for this young management team. I said it then and now you make it clear; it's nothing more than legal fraud.

    • As insiders own so much stock and are heavily compenstated in stock grants, I would think they would be greatly motivated to see a higher share price, regardless of what they think of other investors.

 
SKUL
8.94+0.04(+0.45%)Dec 24 1:00 PMEST

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