What you say may be true, but it may be a little different today. I think the backlog is real this time. The company isn't issuing new shares to finance growth. Instead, it is selling a marginally profitable low growth part of the business. I take a little courage that the stock hasn't sold off much after that huge loss.
i have wasted years in this stagnant dog---management really infuriates me--we missed one of the greatest stock market rally in history holding this stock--they should have sold the whole pie instead of just one slice.I am not accounting savvy . Does the non cash huge writeoff lower book value which was really the only reason we held the stock( the sharp discount to book)?--what is book now??