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Thomas Group, Inc. Message Board

  • mtgfriendofman mtgfriendofman May 5, 2009 2:01 PM Flag

    How Confident Are They?

    >>"We remain confident that we are on the right course to achieve the end results we, as your management team, and you, as our shareholders, expect." <<

    >>As of March 31, 2009, we have repurchased 570,602 shares for a total of $1,035,580, or $1.81 per share including commissions and fees. <<

    Cash/Share June 08 $1.30
    Cash/Share Sept 08 $0.97
    Cash/Share Dec 08 $0.76
    Cash/Share March 09 $0.67

    Also there's an IRS refund apparently due from a carry back of loss.


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    • They cannot be too confident. In the earnings call, they admitted to selling contracts at a lower margin, and skated around every question involving there total lack of ability to land a contract. Same old responses about a quality pipeline full of wonderful new projects. I have to wonder how many of the 25 or so consultants on "furlough" would be available if a large contract were signed. I have to believe many, if not most, of them are actively seeking new jobs.
      As to their stock buyback, they seem to be trying to hold the price for their own benefit. To me, it is a waste of their cash reserves.

    • I think that they should stop buying back their stock and conserve all cash. They've grossly overpaid by for the shares ($1.81 average versus a current price of round $0.80)

      The shares are trading for cash value; however, cash is rapidly declining due to operating costs. Still way too many personnel including management.

      I strongly suspect that management has been trying to sell the company, but no likely takers for any sum that exceeds the company's cash value.

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