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Skullcandy, Inc. Message Board

  • theywontallowanythingiwanttoput theywontallowanythingiwanttoput Nov 5, 2012 12:36 PM Flag

    Lets take a look YOY

    After reading a bunch of these comments. I keep seeing people complaining about the company burning through cash. So lets take a look at a YOY comparison. At the end of Q3 2011 they had $14,922,000 of cash and this year it is $1,898,000 which is about an 88% decline. But accounts receivable went from $34,616,000 to $60,022,000. Which is big increase and overall assets went from $143,940,000 in 2011 to $168,176,000 in 2012. While there liabilities went from $49,736,000 in 2011 to $38,161,000. Stock holders equity rose by 39% from roughly $92 million to roughly $128 million. Asset ratio was 2.89 in 2011 and now it is 4.4.

    Assets +16.8%
    Liabilities - 42.3%
    Asset ratio +52%
    Stock holders equity +39%
    stock price - 45%

    Is there any shorts out there that are shorting this company on fundamentals or is it just technicals? If so can you give some reasons.

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    • This is a growth story with a lot of skeptics....
      Who gives a rip...I'm holding some dry powder for the bottom...(I thought that was 2.70 ago)
      I'm a buyer at these levels.
      Thanks for your sober look at the fundamentals.

      Sentiment: Strong Buy

      • 1 Reply to littlefred747
      • Good posts...I looked at the cash position also and saw the sharp decline...I attributed it to the large increase in accounts receivable...I agree that is ok as long as they are receiving the AR in a timely manner...I think the best thing this company could do is cut back on some expenses for a quarter or two and bump the EPS. If they could just get an exceed instead of meet earnings announcement, we may see some of the shorts cover and the stock will start to climb back....

        Sentiment: Hold

    • As an accountant/finance/tax professional, I agree with your comments. That being said, this stock is a trading stock and fundamentals are ignored. If you're investing based on fundementals, you had better be willing to hold for awhile to let the fundamentals prove out...

      I don't agree with the cash burn concern if receivables are good...which we are told they are solid. 4Q will generate cash as they turn the inventory. Yes they are investing cash into new markets and products, but that is acceptable to grow the business.

      There is concern over competition and margins which is valid. But this can be offset with increased sales which seems to be their model. And I'm hopefull they tighten up some of the G&A.

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