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OCZ Technology Group AŞ Message Board

  • aicdeftone aicdeftone Jan 3, 2013 10:09 AM Flag

    earnings announcement

    "The Audit Committee has approved this report and, in consultation with management, concluded that the Company should restate the results for first quarter of fiscal 2013, as well as the results for certain quarters of fiscal 2012 and for fiscal 2011. The restatements primarily relate to the timing of revenue recognition, the classification of certain customer incentive costs, and for the level of reserves for product returns."
    From this quote in a recent Reuters article, I'm assuming they will disclose everything during 4th qtr results. Does anyone out else out there have insight into this?

    Sentiment: Buy

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    • dud we are soo #$%$ they are gonna restate like 6 quarters lol we are fcked

      • 1 Reply to dbaser97
      • dbaser97....try to work on your written communication skills before publicly displaying them.

        You state "we" as if I'm in the OCZ boat. It's been on my watchlist since they tanked late last year but I do not have a position in them yet. I'm trying to get as much information about the content and timing of the report as possible.
        My take on this stock is that there is a lot more upside than down. I'd like to reduce the downside as much as possible by waiting for a general downturn/pullback in the general markets and buy OCZ then. We are due for a market correction considering the nice run it has had and the fact we are now only 5% away from all-time highs.
        Hoping for $1.50-$1.65 range but would be happy with $1.80. Kicking myself for not buying around $1.20 last year.

        Sentiment: Buy