I used to own Comshare stock. I sold two + years
ago at 28 with a nice gain. Then I bought back at 11
and sold at 9 with a small loss about 5 months ago
when Dessauer hyped the stock a little. I wish I could
say the stock is rising because of "news" at the
company. But it is simply going up because of the stock
buyback. True, a one million share buyback will
temporarily raise the stock. It could even go up quite a bit
(to say 8). But if the company continues to lose
money, then even one million shares less will not lead
to earnings. In short, use the rise as a selling
opportunity, not as a buying one. Let the company alleviate
P.S. As for the "insider" buying,
the buying is really not in large quantities.
Crandall did buy quite a bit a while ago, and will
probably now get out on the stock buyback. But don't take
small purchases at low prices as much of an
You can debate sales force, Arthur, interest
revenue, etc. till you're blue in the face. But as I read
the press release, license fees were up 93% in North
America, and 81 % in the UK. BudgetPlus revenues were up
30%. And, though reporting .01, they beat the market
expectation by .06. That, my friend, looks like progress,
smells like progress, and is progress.
Comshare reported .10, .20, or .30 per share, you and DK
would no doubt find fault somewhere. Your agendas are
obvious to all. Still, you both keep it interesting
around here. I wouldn't want to be accused of "shooting
the messenger", as sunchild is bound to accuse. So,
please, keep it coming.
I think going from $2.2 million in losses to
(before interest earnings) $400 K in losses is
substantial progress. Continuing that trend should put them
well into positive territory in the next and
subsequent quarters, regardless of the interest
Why do the sales costs have to progress? And who is
to say that Arthur wasn't more than 30%, say 40%,
and the other 10% is growth?
It appears your response actually proves my
initial point. If two quarters ago was break even with
Arthur products, and the last two consecutive quarters
without Arthur products have not been profitable, it
would seem to say that Arthur was generating profits
which covered the operating losses incurred by the
remainder of the product line. This is not good
Re: sales force. Even if Arthur did comprise 30% of
the sales costs, that is still saying that there is
General Motors made money for several years on
their financial (GMAC) operations while they brought
their main LOB (automobiles) back to profitability.
That's just good common business sense.
selling expense was way out of line with industry ... too
many chiefs, too few indians. 30% reduction is a good
step in the right direction.
This looks like
pretty encouraging quarter to me.
Well, since the previous quarter had a loss of
$2.2 million for those same businesses, I'd say the
current $405 K is moving in the right direction. Since
they had broken even the 2 quarters before that, I'd
also say that Arthur had been having a significant
impact on their earnings.
Why the sales costs are
down? Maybe because they aren't selling Arthur, and
that part of the sales force isn't on the payroll
This is the 2nd quarter in a row CSRE execs are
using an accouting gimmick to show a false profit. This
quarter, they're using ~$400K in interest from the $40M
JDA sale and putting it on the books as revenue. Last
quarter, they included the $40M sale as "profit".
That's bad business. Putting money in the bank and
counting the interest as "profit" while your nominal
operations run at a loss is not the way to do business. Good
news for investors, though. The stock is (temporarily)
up a bit and it might be a good time to cash out
your remaining chips. I think I will.
So what you're saying is that while the remainder
of Comshare's product line is currently operating at
a loss of $.409M per quarter, the Arthur product
line would have shown a profit. HOW? Also, if that is
true, why sell the only profit making portion of your
I'm afraid that your spin doesn't stick.
I suspect that DD on the numbers should hold
caution at best in light of this quarterly operating loss
that continues a string of quarterly operating
One other question, if Comshare really is
refocusing/rededicating their sales efforts, why is the cost of selling
down 30% from a year ago? I realize that throwing
money at sales doesn't make a good sales staff. But, I
suspect that those numbers indicate a short staffed sales
On the other hand, without the JDA sale, they
would have had higher revenues, probably offsetting a
good amount of the interest income they wouldn't have
had. The way I see it, is that they are growing the
remaining business at this moment, and are using the cash
to get themselves over the hump. Let's hope it
happens that way...
They're all down again. The people on PSFT and
HYSL message boards are all going crazy. I think I
heard something hit the pavement a few moments
I used to come here for a good chuckle, but now
there are so many boards to choose from!