At least they didn't lose money. Their dividends declarations greatly exceed their earnings, essentially they're liquidating. Why sell shares at around $25 and paying underwriter fees only to pay the money back to the shareholders. Doesn't seem like a plan.
What is amazing to me is that I sold their shares in the mid-$30 - can't believe how poorly this company is performing. Still not a buy.
I'll be buying at under $14.
The forecast and action from management was awesome. That's why we should see $10 by the end of this quarter. Don't look in the rear view mirror, look forward and you'll go long.
Based on the current industry environment and Profire Energy's third quarter performance, management has lowered its fiscal 2015 outlook for total revenues and net income. Total revenues are now expected to range between $48.5 million to $50.0 million (versus $57.0 million to $59.0 million as previously stated), which would represent an increase of 37% to 41% over the previous year. Net income is now expected to range between $5.5 million and $6.6 million (versus $8.0 million to $9.5 million as previously stated), which would represent a decrease and increase of 2% to 18%, respectively.
I just hope that we can stay above $8.25. $9 would be nice. $10 no way.
You mortgaging your home on this?