these shares would be at $12. This is one of the worst reports I've seen this quarter they missed across the board and the margins were horrible. I think the sellers will get this to the mid $14's at some point tomorrow.
Comparing this quarter against last year's quarter, the results are BIZARRE. Revenue grew by $3.5mm, but gross profit dropped by $24mm and OpExp grew by $19mm (even though acq costs dropped $6mm). A quick fundamental view is that management is not controlling costs. Good technology, lousy management. Good luck, Carl, you have some serious house cleaning to do.
You are 100% right... Next year is worse..... Revenue growth offset by increased opex, R&D, declining margins due to mix, pricing, etc. Double digit margin contraction is horrible and many would be fired for less. Simply explaining it away due to product mix, non recurring, increased investments, etc is simply irresponsible. Carl is not a dummy, this has to be a red flag. Imagine all of the acquisitions in the last 24 months and NO revenue growth in an exploding category with superior IP ? Something does not add up. Either the technology advantage is bogus or the management is inept.