I just finished reading the entire quarterly report. "Corporate" expenses increased $300,000. That amounts to .12/share. I still believe that the proxy dispute with Swenson was the major reason for the increase in this expense.
I believe the company's press release was not properly thought out. The expenses related to the proxy dispute and could have been classified as a non-recurring one time expense. The press release did not even mention the financial impact of the dispute. What were they thinking?
I have looked at the numbers as well and found them disappointing. The company doesn't seem to be able to increase profitability and sure doesn't know how to increase return on its invested capital. Overall not the company I would be interested in to be a long term investor as the opportunity cost are too high.
I surely hope that Swenson can fix both things and make you the return you hoped for as a 5% owner.