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WEX Inc. Message Board

  • incomenvalue3 incomenvalue3 Mar 13, 2007 8:05 PM Flag

    After Hours: 3.80 0.50 (11.63%) as of 4:11pm ET on 03/13/07


    After Hours: 3.80 0.50 (11.63%)

    Much worse EPS than I expected. Stock may test $3 tommorow.

    Wish I would have sold everything at $4.49.

    A 15 multiple puts this stock at $2.85.

    Book value is $2.84. (Diluted)

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    • First of all, congratulations on taking some off the table a few weeks ago. Clearly, that turned out to be a good decision.

      Now... is my math wrong or is $0.28 diluted net x 15 = $4.20.

      I think that if you went back to the fears of what was going to happen as the new Select Comfort contract was implemented, you would find that people thought it would be a uglier than this past quarter. Not that I wasn't disappointed, given what I viewed as some favorable recent press, but they have performed well over the long haul. They have done an excellent job of retaining and even growing revenue.

      I have to listen to the cc and see if they provided specifics on broadening the customer base but I think they have achieved what folks have been requesting, which is that they are no longer totally dependent on one customer. In a few quarters, if the total economy doesn't collapse around them, this will be a much stronger company... more products, more customers, more balanced growth.

      Tomorrow will likely be down, and the same may be said for next week, and perhaps longer. We'll see. However, I think what we're seeing is an overreaction. Time will tell.

      I wish I had taken some off the table earlier, but I'm not planning to do so now. Perhaps I'll add another thousand or so if it really does touch the $2's


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