I am just going to comment on the CC and then leave for a nearby Irish bar and see if I can bury my frustrations in a pint or two. The remarks from Milner could just as well have been taped from any other qtr. and saved him the time and expense of carrying on with this one. Again, we have a new product (sound familiar) much like six months ago when an updated UPS system was going to "revolutionize the trade" but it turned out to be nothing at all. Promises, promises and I am a fool for thinking these guys are more than they think they are. I am not going to waste my time comparing the figures they threw out because of the temporary loss of that big contract only to say that the forecasted figures for the 1st qtr which includes that same contract indicates that another loss was brewing for 2013 without it after all the promises. I quit gentlemen and I apologize to you for cheerleading as I did but I truly believed in what I said. That belief was horribly misplaced and I feel like a dummy. Now if you excuse me this dummy needs a "cold one." Take care...Pens
Q1 guidance terrible, especially excluding the 1 order.
GM% expansion is over
SG&A came down far less than their original cost cutting plan goals
Stock expensive on EBITDA and PE
And I agree, the 'Hope and pray' for the new product success is getting very old.
Time to sell and move on.