PMDKIA was right, I was wrong!!! Swisher does not need to ever make a profit for the stock to go up!
I said all along that they have a tremendous amount of losses. I also stated that they were purposefully withholding this information because their stock would tank once people saw their substantial losses. All of that information is correct. However, PMDKIA states that the stock will go up. I guess he is right and I am wrong. It seems like no matter how many losses they have the stock will continue to rise. Nobody questions why they have so many losses if all the companies they purchased were profitable. Nobody seems to realize that Ecolab has a 5% profit margin and they charge 20% more than Swisher. Best case scenario for them is to only lose 35 to 40 million dollars a year for the next 5 to 6 years.
As far as the conference call was concerned, the analyst who said that the fact that they have 70 million of cash on hand is semi #$%$. They have that cash on hand because of the sale of Choice. And they need that cash to continue operations for 2013. But by the end of the 1st quarter of 2013 that cash will go down to 60 or 55 million and keep dropping by 10 to 15 million a quarter. What I am basically saying is that cash is the only thing that is buying them time.
Another interesting point is that they said that they should be profitable by the 3rd quarter of 2013. Remember that they also said this when their losses were only 5 million a quarter. What happened? They also failed to mention how they plan to turn this around.
Oh well, seems like the stock keeps rising as they report losses that are well beyond the profits they ever hope to achieve.
ab8 and truth you boys are morons do you think its over, its only the start. You boys are going to look real stupid, acting like your all knowing. Swisher has a plan and its slowly working releaseing a little info at a time. I heard the conference call and I was impressed. Your looking at a company that is coming out of a problem looking pretty good. My husband is a cpa and was commenting that they are using all the cards in there legal package and will pull thur just give them time. No CEO or CFO would stay with a sinking ship. I will post again when she is 1.75 and say I TOLD YOU SO. Give swsh time before you claim victory. I for one will hold and will be the first to laugh at all the bashers and childish boys.