This is ridiculous! Makes you wonder how many telecom companies in the market are trading below book value? This constant downtrend started even before the fiscal cliff ghost.
Market Capitalization values:
January 2008 - 1Billion
January 2009 - 960M
January 2010 - 998M
January 2011 - 771M
January 2012 - 627M
Today 11-21-2012 = 434M
Understanding that buy-back of shares takes a hit on market cap, the erosion in PPS its just lethal. If you were the BOD, what would you do to turn this thing around?
luking4value, I think you will need to go back much further in time to see where this thing will stabilize. Also, market cap is not the meaningful measure, of course, it's enterprise value.
Also, the remaining net cash is thinning.