(CMTL) on Wednesday reported a fiscal third-quarter loss of $14.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Melville, New York-based company said it had a loss of 89 cents. Losses, adjusted for costs related to mergers and acquisitions, were 21 cents per share.
Sentiment: Strong Buy
Egg prices going down and technical moving average problems.
That is why we currently have a Zacks Rank #5 (Strong Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for CALM.
Sentiment: Strong Buy
Are you sure we'll know first quarter results in two weeks?
I hope no one is leaking earnings. I'm thinking 5-6 weeks.
Sentiment: Strong Sell
We're not in debt, and the government will bail us out on the egg issue.
Maybe a minor bleep this quarter then extra profits from government payments by the next quarter. The government will have to distribute funds by the end of its fiscal year - Sept. 30.
Sentiment: Strong Buy
It's rates are controlled by the government, and the government owns 51%. The government wants cheap electric rates. I've taken a huge loss and have the feeling the Brazilian government will drive the stock price down and then buy the 49% of the privately held shares. The government has the simple majority and we minority owners are DOOMED!
So now the company can't meet the 15 day extension after 4 months past the last quarter ended for filing the Form 20-F for the SEC.
I hope the company is either planning on hiring more accountants or firing the present accounting/financial staff and hiring a new staff.
The share price has been dramatically effected by the less than prompt reporting.
This type of poor reporting is why I don’t invest in Chinese companies.
Pitiful – PITIFUL JOB!
Is delisting next?
The largest utility on the continent and this mess is what we shareholders get?
How can bonds move up big when they are yielding close to nothing now?
I'll put my money in the mattress.
Brazil Sugar Ships Face Longest Wait in Two Years at Ports
By Lucia Kassai - Jul 5, 2011 4:46 PM ET
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Ships waiting to load sugar at Brazil’s main port may face the longest wait in two years as a late start for the harvest and poor crop yields reduce the amount available for export.
Ships lined up outside the Santos Port, Brazil’s largest for sugar, are waiting as many as 45 days to load this month, the most since July 2009, Nicolle Alves de Castro, a commercial associate at research firm SA Commodities, said today by telephone from Santos. The delay is mainly affecting ships picking up sugar sold in the spot market, said Jose Carlos Silvares, a spokesman for the council that oversees the Santos port authority.
“There is a mismatch between what we can deliver and what the market needs,” Antonio de Padua Rodrigues, technical director at the Unica sugar industry association, said today in a telephone interview from Sao Paulo. Sucrose levels, the substance in cane that’s turned into sugar and ethanol, “have been very low and it means we won’t produce as much sugar as initially expected.”
The sugar-cane harvest in Brazil’s Center South, the world’s largest producing region, started in the second half of April, about 45 days later than last year. Output in the region fell 25 percent to 6.73 million metric tons this crop year through the first half of June, down from 8.95 million in the same period a year earlier, Sao Paulo-based Unica said June 28.
Silvares said the backlog has been worsened by “tramp” ships, which are unscheduled vessels aiming to carry sugar traded on the spot market. The average wait at Santos for all ships, including those with scheduled pick-ups, is 15 days this month, de Castro said.
“Sometimes the ship arrives, but there is simply no sugar to load,” said Paulo Jose Mendes Passos, commercial and logistics director at Guarani SA, a Brazilian sugar-cane processing unit of Tereos Internacional SA (TERI3), today in a phone interview from Olimpia, Brazil.
Sugar output in Brazil’s Center South may fall to 33 million tons this year from 33.5 million tons last year because of low sucrose content, Passos said. Exports from the Center South may fall to 22 million tons, from 24.9 million tons last year, after stockpiles at mills declined, he said.
Sugar-cane output in the region is forecast to fall 4 percent this year to 536 million tons, the first drop in a decade, industry researcher Datagro Ltd. said June 16.
Ships waiting yesterday to load sugar at Brazil’s six main ports had the capacity to transport 2.78 million tons, down from 2.84 million tons a year ago, SA Commodities said. Brazil had a record 135 ships waiting to load sugar on Aug. 10.
Brazil is the world’s largest producer and exporter of the sweetener.
To contact the reporter on this story: Lucia Kassai in Sao Paulo at firstname.lastname@example.org.
To contact the editor responsible for this story: Dale Crofts at email@example.com.