This freaking sucks. Vineyard is a major reason this stock is at $11, and now they want to do more acquisitions. And not buybacks. They should buy back at least $3m shares at this level. It appears the only way the EPS to actually increase. The result could take the stock back up to new highs, at which point they could re-issue the shares they bought back. This is Managing a Stock Price 101 for CEOs. Instead we get no support from the management and they only want to repeat the actions that have taken this from $25 to $11. It appears that PKT will NEVER be a highly profitable company as Brear seems hell bent on raising expenses 1 for 1 as revenue increases.
Now everything comes down to a couple of Middle Eastern deals for the 2nd quarter. If those don't come in, stock is dead for a long time.
I meant they should buyback 3m shares, not $3m worth of stock. They owe it to the longs who are getting killed right now. IMO they should buy back 5-7m shares. I don't want any part of new acquisitions. I want EARNINGS.
Problem is that that doesn't solve the problem. After a nice pop there would be a rush to exit because everyone by now is aware of the issues that caused the plunge in the first place and the share price would drop right back down.