Very modest move down given the miss. I highly doubt this will trade down to book. Looks like buyers will be loading up here and running this up ahead of next quarter. I will be a buyer tomorrow morning.
you know the picture they painted for the second half sounded pretty good but it is dependent on AT&T getting their 4G up to speed. Maybe it will happen but I could see it being delayed. It is AT&T after all. Further, if they are relying on T-mobile providing the 4G for AT&T they could also falter if the sale doesn't go through based on antitrust issues. All I'm saying is it wouldn't be the first time this company or any company claimed things would get better but it doesn't happen near as fast as they hoped.
• Revenue in the first quarter 2011 of $144.3 million, in-line with guidance • Mobile Computing well positioned in 4G to drive growth in second half • M2M represented 50% of sales in the first quarter of 2011 and core M2M revenue grew 16% year-over-year, excluding Barnes & Noble
And most importantly they lost money...revenue means nothing if you cant make a profit...I lmost bought in here thinking they were a better option than Novatel...however novatel was almost at cash value so a small move would be valuable for options...this could fall quite a bit