52K+ 2016 silver eagles graded already in first 5 weeks of 2016. Graded 42K all of 2015.
2016 is 30th anniversary of silver eagles. I imagine 2016 with this special label will generate huge interest.
Already at almost 300K coins this current quarter. 30 day coin cert rate is at all-time RECORD levels right now. Things are humming along. I suspect last quarter was pretty much the same as 1 year ago quarter but outlook should be really good.
says you. By definition the company is insolvent. $13B+ in debt with little cash. The debt is backed by used cars of dubious value. Avis has declared BK already in its history and probably will again.
said on their Conf Call that they have new programs in place in 2016 for Modern coins and are attempting to capture Modern market share and become the market leader. Currently at 30%+ of Moderns and 70% of Vintage. China is up 18% in the current fiscal year and is 7% of the revenue.
This explains the huge increase in coins so far in 2016 as compared to previous years. Apparently whatever they are doing has increased volumes by 30% so far in 2016.
Also said on Conf Call that Mint anticipates a Football coin next year similar to the Baseball Hall of Fame fame that was wildly popular and gave them record earnings.
I think this is the low point and it is up from here. Unfortunately they really did not say that on the CC so the stock might be under pressure from those that just read headlines. I may pick up another 10K shares if this moves under $14.
they are currently the Vintage coin leader with over 70% of the market share. NGC has about 70% of the Modern market. PCGS has put new programs in place in 2016 and is attempting to become the Modern coin market leader as well. This explains the heavy volume so far this year. This can have huge negative effects for NGC. Everyone prefers PCGS but NGC was just better on price for Moderns. PCGS is more expensive for Vintage and still has the larger market share. I assume PCGs lowered bulk tiers for Moderns to be more competitive. Lets see what NGC does.
paid over a 41% combined tax rate last quarter vs 39% last year. Absurdly high tax rates. Something is wrong with the tax laws in this country.
cash flow is higher than that. GAAP EPS includes things like stock based compensation, depreciation, amortization. Plus that quarter is historically their worst. The current quarter is the best. They typically add cash Jan-June, and burn cash July-Dec. So this is the low point.
Selling now is selling at the low point in the cycle. Having said that, it is a thinly traded stock and if a large holder wants out, it can have a big impact on the share price.
2015 would have been down regardless due to VMS moving towards a SaaS sales model, but obviously not as much.
I don't understand why they don't take the offers to sell the business coming their way
with $16B in debt backed by used cars of dubious value, little cash, I would suspect the whole thing is worth less than zero. Carl Icahn probably getting margin calls on this and Chesapeake
It's looking like we will do between 700K+ coins this quarter. It is possible that the market is strong right now and the increased rate is just due to coin market. More likely is they have captured a large Modern share from NGC. Already at 343K coins for the quarter and we are not even half way through.
I think NGC was caught flat footed and does not know how to respond yet. Ironically, the head of the Modern division left PCGS for NGC back in September.
The satellite provider ORBC got into fleet technology a few years back and directly started competing with many of its fleet customers. One customer, IDSY had over 100K satellite assets with ORBC. Since ORBC started to directly compete, IDSY has been moving all its new customers to cellular technology which is now much cheaper. They also started to retrofit existing customers with cellular. It was a big loss to ORBC.
Now CAMP is competing with its customers like IDSY. If I was a customer and a supplier started competing with me, I'd find a new supplier. So the question is, can CAMP gain sufficient share against its customers before the loss of customers affects CAMP?
another vote of confidence from an existing customer. Warranty contracts are very high margin, especially on the software.
I assume this is recognized equally over the next 12 months.
so in the old day when you sold stuff, customer would pay upfront for the hardware and software and get 1 yr of warranty for free. After that first yr customer had to pay 18% of the upfront cost to cover the warranty. The warranty got you free software upgrades and replacement hardware for any hardware that failed.
They said the customer was a 10 yr customer so it is something like that. Could be Nestle as their 2000 unit total fits into this cost structure. Could be Walmart and IDSY is now pushing back on them for support of ancient VAC2's and VAC3's
Warranty renewals are extremely high margin. Sending software over the internet is essentially free.