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Skullcandy, Inc. (SKUL) Message Board

  • meifud meifud Mar 7, 2013 6:16 PM Flag

    they were NOT record per share earnings

    and margins are down, and sga is up, and virtually every meaningful performance metric went south

    who in the world was bidding this up after hours????

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    • redheadinvestor had it and has it correct
      any 'turn' in this company's fortunes are a long way off
      and they have much better uses for their credit facility than buying back stock

    • They beat on revenue and earnings were in line. What took it down was guidance of loss in first quarter. I still believe the strategy is to get all bad news out now, tear her down and rebuild with better packaging etc. It's still a strong brand and now future comps are much easier to deal with. I wouldn't be surprised to see a beat at next earnings in early May and maybe up future guidance as well. This stock and shareholders are due for a break.

      • 2 Replies to rjmcbear
      • redheadinvestor@ymail.com redheadinvestor Mar 8, 2013 5:13 PM Flag

        You have grossly understated the bad news on the CC. While I fully expect SKUL to survive and eventually recover, the challenges before SKUL are major, very expensive, and time-consuming. I don't think SKUL will take a loss limited to Q1, and then rebound on a sudden earnings tear. The turnaround will take multi Q's, might take more than one try or some adjustments, and it will shrink the balance sheet's net tangible assets (cash, inventory) without delivering on earnings in the near term. In particular SKUL has done an abysmal job managing cash (this is not the fault of the relatively new CFO and I expect him to improve this going forward).

        I've been watching SKUL for weeks, didn't buy before earnings, made the no-buy decision again near earnings (see my messages), and have done new DD after earnings and the CC and believe that at $5.20 SKUL remains significantly overvalued. I believe the new analyst calls are by and large correct and that $3.75 to $4.50 is probably where the shares should trade - that's the outcome of DD, not a bash. Exactly where in that range depends on a lot of X factors into which there is no visibility.

        When I posted that I wasn't buying before earnings and listed all my concerns, I was aggressively flamed. All of my concerns were borne out. I wonder how those jokers feel now? As far as I'm concerned they deserve to lose 22% in one day if they're going to be so thick-headed about investing.

      • lol delusional. by the time that happens, they'll either be heavily in debt or out of business. they can't compete in this space.

 
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