Yeah, the news is definitely giving them a spike today, but it really doesn't change the bigger dismal picture of floundering sales and being unprofitable.
Earlier in the calendar year they were projecting to be profitable by the last quarter of the fiscal year, which ended in September. The first quarter of the fiscal year is traditionally their worst quarter, so it appears to be downhill from here, at least for a while.
Planar Systems, Inc. (PLNR), a worldwide leader in specialty display solutions, recorded sales of $41.4 million and GAAP loss per share of $0.23 in its fourth fiscal quarter ended September 28, 2012. On a Non-GAAP basis (see reconciliation table), loss per share was $0.10 in the fourth quarter of fiscal 2012. Sales for fiscal year 2012 were $171.4 million and GAAP loss per share was $0.81. On a Non-GAAP basis loss per share was $0.40 in fiscal 2012.
I think price will drop below a dollar before long, then PLNR will be faced with delistment concerns.
Check link on Summary page, because Yahoo doesn't allow posting links to the message board anymore.
I recently installed Microsoft Security Essentials as the anit-virus software on my home computer. It has a feature called MAPS which determines how much information you want the program to send Microsoft. I started with the Basic Membership, but because the Firefox browser kept crashing every time I visited Yahoo I updated the membership to Advanced about a week ago. In that short period of time the adware popup windows that were setting off the anti-virus and crashing the browser have been converted to popups with an error message that says the network connection was lost, so it appears to really pay to share as much information with Microsoft as they feel they need.
EMMS's balance sheet has truly risen from the dead, but sales and profits still need a lot of work.
Sales increased 1% year over year, Earnings also improved with a loss of 0.08 this quarter vs a loss of 0.15 for the same quarter last year.
See links on summary page. Also EMMS has sold the Country Sampler and Smart Retail magazines for $8.8 million which will be used to pay down it's senior credit facility.
Yeah, I saw that 8K filing, so they can't be accused of voting ghost shares from here on out. Doesn't make a lot of difference though, because Jeff Smulyan already holds all the cards.
I'm tempted to say possibly, but it would have bankrupted the company if they had to pay the accumulated dividends and honor the $50 redemption value of the preferred shares.
EMMS held its special stockholder meeting yesterday and announced the vote. All ballot measures were approved per management recommendation, including canceling accumulated dividends due preferred holders.
I figured that's how this suit would turn out. Basically the preferred holders seem to be arguing that EMMS wasn't entitled to make a bid to retire their preferred shares at a discount to face value, but every buyback offer stands alone and can be made from any number of sources including the company.
Zacks has given PLNR a Zacks Rank of 1 or short term "Strong Buy". Price is so depressed and volume so weak they've gotta have a bounce sooner or later, so you may be right.
EMMS has closed the Grupo radio deal after all and has also received the $85M payment in full.
When the financial crisis hit EMMS's publishing business went down the tubes. It's probably for the best.
That's about $10M more than the expired offer which should give EMMS a boost. Here's the body of the form.
Mexico City, Mexico, August 3, 2012 - Grupo Radio Centro, S.A.B. de C.V. (“GRC” or the “Company”) (NYSE: RC, BMV: RCENTRO-A), announced that at the General Ordinary Shareholders’ meeting held August 3, 2012 (the “General Ordinary Shareholders’ Meeting”), the following was approved:
I. A transaction pursuant to which: (i) a company in which GRC holds a 25% share ownership and certain related third parties hold the remaining shares (the “Acquiring Entity”), will enter into a credit agreement with Credit Suisse and other financial institutions for up to US$95 million (the “Loan”) to finance the acquisition of the Los Angeles, California KXOS-FM radio station (the “Radio Station”) through the Acquiring Entity and its wholly-owned subsidiary; (ii) the Acquiring Entity and its wholly-owned subsidiary acquire the Radio Station in accordance with previous commitments of GRC with the seller; and (iii) GRC guarantees the Loan.
The good news is that the support of $2.00 held for the day. Unfortunately price closed down 8% on heavy volume. One heavy volume down day is usually followed by another, so the question is has EMMS hit bottom, and I would say probably not.