I wasn't able to listen to the cc yesterday (and it's not yet on the website), but it certainly is (pick your word: amusing, interesting, ironic, frustrating) that each quarter REED seems to have a ~$500k one-time expense.
That said, I was never a big fan of the contract business. I've been involved with a number of contract production deals and they're always twice the work for half the profit vs. your own brands. It sounds like REED is near the point that they won't/don't need it anymore.
I imagine the SP will be beaten down today as a result. The silver lining is for those of us still buying, these events continue to keep the stock undervalued.
wow - this is a $500m market cap in 4 years (make that in 3.5 years now) according to your forecast
what is you said - something like - profits don't matter - all about revenue growth
15 years of losses and 2013 already shows -7c/share loss
Sidoti analyst who was forecasting 2013 profit of 1c now shows -10c ytd
on 8/15 downgraded the stock to neutral
Get's old, doesn't it? And since it was material (wiped out expected positive earnings), why wasn't it revealed earlier in the quarter instead of blindsiding us once again? May unfortunately bring on lawsuits (see MSFT for similar).