Consensus revenue was 101.7 - they came in at 99.7. Thats a 2% miss for this alleged growth company.
As usual, bear stearns is out early with a pumper note on the stock (just like they did last quarter). Who writes a note 5 minutes after the earnings release and 1 hour before the call on such a small company? Bear stearns - that's who, this M&A-hungry company's banker.
Bear is saying the results were "in line". BS - they clearly missed both consensus and Bear estimates. Bear also trumpeting that "guidance was reiterated." However, in their preview note yesterday Bear said they expected the company to raise guidance.
People just dont understand this company. They assign phone numbers. Not exciting. They got a pop in transaction volumes in 2006 due to mobile phone number portability coming on line, and that tricked many into thinking this was a growth company. They used the stupid stock price to attempt to quickly diversify away from their sleepy and decelerating core business, but several of the original management team jumped ship, leaving an incompetent team in place. PE needs to go from 32 to 15.
The pop to $36 was due to short positions being squeezed. Long term I agree that this is a stagnant company with incompetent management. I have heard that the execs that left did so to enable divesting without insider trading scrutiny.
Holy History! What a dead, dead board! Not a single post since the 26th of last month. Obviously, the comments made then (i.e. miss!) were not applicable. IMHO this thing is a buy well through the $32 level once more. Depending on strength through that level, this may continue upward from that point. However, if volumes are low, there will once again be another downward turn between 32 and 33.
A management reorg is about to happen. All of the incompetent managers are being promoted. This will drive the true talent out. NSR is rife with a** kissing and nepotisma, and this will be their undoing. Drop this puppy.