10K out. 2012 EBITDA = 10 million, free cash flow only 2 million
that is a huge drop
based on last year, this company's market cap is overvalued.
it was funny to listen to mouth breather ross taylor on the conference call. what he fails to understand about his dumb investment @ $3 per share is that he bought a business without much of a track record. can't buy off one or two good years. SMALL SAMPLE SIZE. mean reversion hit in 2012, and it hit hard. all that heavy breathing/complaining ain't gonna make things better.
ebongreg13 , " it was funny to listen to mouth breather ross taylor on the conference call. " That is a #$%$ Hole comment i listened to the call and was happy a Professional like Ross held them to task.
Ross was the only one on the CC that had a clue as to what is going on.......if you need a few laughs just read the transcript and see how Mandel responded to his questions. Actually tried to make it sound as if the large shareholders are highly supportive of management (i.e. Mandel). .
10K has been out for over a week. Nothing surprising. Last year was difficult with the HSP decline catching them off guard. Forward guidance was good and analysts have next year's EPS at $0.35 and current year's at $0.18
Stock is cheap here at $2 (basically at book value). Will be freeing up some cash to buy more in the near future.
all guidance said was expanded ebitda. i would hope they can do more than 10. doesn't tell you much, does it? what is sad is that in november they guided 15-16 full year ebitda. missed by by 5 million with only a few weeks left in the year!
even if they increase ebitda 50 per cent to 15. give it a 5 multiple, add on the debt and you've got $2 - 2.5 per share.
they are guiding hsp to be flat in 13. how is that going to help things? cable biz is still losing money a year later.
as for analysts, craig hallum is garbage and bill sutherland sounded like a bumbling, mumbling fool on the conference call.