Yeah, I know. I was just hoping for one little happy surprise on MCZ. They are taking the 'right' actions, from an operations perspective, but if they don't start selling more stuff soon, there's no way out.
I am definitely glad that they're reducing their recurring costs and I'm sure it hasn't been easy for employees at MCZ.
Ultimately., they need to sell a lot more stuff to ever turn a profit; $50M / yr at 20% margin (which is probably about the 'real' margin is if you pull out the RB4 fire-sale) just ain't gonna make any money for anyone (other than executive salaries).
My impression is that there isn't much more room to reduce expenses for now, so I'd posit that MCZ needs generate $20M in gross profit / yr to break even, which means around $90M / yr in revs. Based on Q1, they're headed for something like $60 - $70M, so there's really gotta be some change, or won't be around to see another fiscal year after FY17,
I'm not feeling particularly comfortable at the moment, although there's really no material change since yesterday.