Did you also catch where Ted said something about "if the company is acquired". Its clear they are setting the table to be taken out. Closing those plants, laying off all those people, divesting the unwanted assests. They are going to sell the rest - its just a matter of when and for how much.
I wonder if there was a division in the board room between Henry and co wanting to go it alone and keep the set top path, and others who were fed up and wanted to make this major change?
stiefel was the very first company to downgrade the stock a few years back. stock was downgraded to sell back then and went from 7 to 4 in a matter of days. that was fun.
So at least they have taken us off the sale block.
thanks for the info.
You have been here as long as I....how do you not know that? The reason revenues were high is they were selling MoCA to set top makers. Then BRCM came out with the integrated chip and ENTR lost all their market share. So simply going back to discreet only is just admitting Trident was an utter failure. Its not going back to the good old days.
Also, you post here non stop about the glory of set top boxes. And how their growth is going to cause ENTR revenues to explode. Now you are no longer a fan of the set top? You basically are a pumper no matter the circumstance.
That said, I feel better about this company now, than I did yesterday. Henry is gone, that is good. The company is obviously up for sale, that is good.
That was before BRCM and others created integrated MoCA in SoCs......as soon as they did revenue nose dived....thus the desperate play for Trident. The revenue from discreet MoCA will never reach that high again unless new product streams are created.
I just do not see how they could get to 6 bucks - even if profitable. Remember, they are divesting a good portion of the company. The 4.50 target by Benchmark was based on the larger company.
However, if that happened I would be extremely happy. Today I am just glad this didnt tank as usual. And though I am somewhat disappointed that the integrated solution that we all waited for was scrapped and tossed aside, I am happy that change was made and that positive steps are being taken.
We still have a wait on our hands....but hopefully in the next 6 months we are showing progress and acquired.
I would think the company could be acquired for 4.00-4.50. Benchmark estimated 4.50 when they first announced they were for sale. I dont believe it will be higher than that. But that is still a substantial premium over today's price. I'd take it just to get out of this stock.
I think you are right. They settled the VIXS legal issues. They already had streamlined the company from previous restructuring. Now they jettison the set top business which had failed under previous owners as well. They are about as trim as they can get now, and are ready for a major company to buy the remaining MoCA and satellite divisions. QCOM is the perfect suitor here. What ENTR has left compliments what QCOM offers. No one wanted the set top business.
And the new CEO actually said "if we are acquired" in his statements today.
Isnt it amazing....they guy spent 12 million to buy bankrupt company, then how many tens of millions to resurrect it and develop integrated solution. Then 2 years later, they scrap the whole project.
Back to discreet MoCA...the same strategy that they said 2 years ago would no longer work.
Interestingly though, the new CEO did mention be acquired in his closing statements. My ears perked when I heard that.
I just cannot believe how they hyped the integrated solutions and bundled solutions with SoC for set top box. For two years we have been waiting every quarter to hear about the progress towards and integrated solution to compete with BRCM. It was the driving force for growth. And now......we just completely abandon the entire thing?? Wow.
That said, this new guy did a decent job addressing the questions today.
At least Henry is gone.
ugh, not sure about this strategy....giving up on set top MoCA and going only discreet MoCA (where we where 3 years ago!). Basically wasted tens of millions on our little set top box play.
Basing whole strategy on adapters and wi fi extenders? What could the revenue possibly be in that compared to set top MoCA?
Revenues are going to plummet.
Call has started postively.....I like what I am hearing for once.
Is anyone here? Not one post except for Maple. The conference call should be interesting. How does the stock react?
Please find a buyer soon. I think its clear, this company cannot stand on its own.
Wow, I can't wrap my head around all these changes yet. Laying off 40% of their work force? Scrapping set top box division. Things must be so bad they had to do this, but I do not think this is good news.
I thought the whole reason they added the set top business was stand alone MoCA was not enough with BRCM providing integrated solutions.
At least Henry is gone, good riddance to that loser.
Where does the stock go today.....they need to find a buyer for the smaller company now.
You and chery are dreamers and neither of you have ever been right.
I hope we get a surprise Monday. Ill take a strategic deal, raised guidance or the firing of Patrick Henry. How about all three? But if we get more of the same, we are going to be hurting. The early Monday release is a change, so maybe thats a good sign. Im not too optimistic.
I think today's volume pretty much discounts any buyout rumor for Monday. If there is no update on strategic alternatives, and our results and cash drain are as bad as I fear, we will hit a new low Monday. Nothing in Patrick Henrys past statements leads me to believe things are improving.
What can save us is either an update on strategic endeavors, the firing of Henry, or a surprise in future guidance due to a rollout pushed up. Besides that watch for a typical post earnings sell off.
Ha ha, you and your buddy maple, 1 r. What a pair, his ridiculous sarcasm and your ridiculous pumping.
There is no rumor. Nothing is going to hit the wires tomorrow. Just another one of your pumping schemes. Like buyout this weekend and revenue raise coming monday.
The company may find a strategic partner, but the announcement wont be on your timetable.
Be great if for the first time you were actually right. I am just hoping Mondays call isnt a total disaster. Would love to hear some positive guidance for the first half of next year.
The current quarter is going to be garbage - we already know that. In their warning, they already hinted that Q4 was soft. Just how bad we will not know until Monday. But if their turnaround is delayed again, how much cash will we have after another couple quarters of underperformance? These guys have zero credibility when it comes to forward guidance.
The only real hope we have is that they find a buyer.
Maple is an idiot, but he does have one thing right. Patrick Henry and the board are worthless. I was hoping we would not have to listen to another call with his involvement. I'm sure he will bring the same non-enthusiasm to the call that we have grown to expect.
Here is hoping that I am wrong....