So anyhow the turnover time increased from a little more than 60 days in 2004 to almost 100 days in 2005. That is a very substantial increase in a short time. Are they making too much stuff, or selling too little? Management? Helloooooo?
Another problem is the money tied up in the cost of that extra inventory. The increase over y/e 2005 inventory was nearly 50 million bucks. That's more than two years earnings (!) at the recent 70 cent per share figure.
What's up? Why is so much shareholder money sitting in warehouses? Has management given an explanation for this?