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Emmis Communications Corp. Message Board

fabulouspoodle 68 posts  |  Last Activity: Feb 12, 2016 10:25 AM Member since: Apr 7, 1999
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  • fabulouspoodle by fabulouspoodle Feb 12, 2016 10:25 AM Flag

    .that surprising, a bit worse than expected, but then there was no winter to speak of where I live till February. Not sure where she'll go, but I have to agree with Westy's long term view that we've got a decent at an opportunity in the mid nines, which is only 6 percent from where we are now, so not going out on a limb. And if mid nines fails, then the eights. But I just dont see her going lower than that, so not all that much risk.

    Of course management is awful. They have done a horrible job at creating and marketing their brands. Complete failure. Fortunately they have a stub of business that keeps on giving. They did a nice job turning this thing around from near death a ways back through nice cost cutting low cost factory in the DR, securing some military contracts, and moved from selling direct to factories in vans to the internet. Did a nice financial job, with their debt etc. But in terms of actually knowing what consumers want....well they don't.
    They've gotten their shot at being retailers, didnt work, so they should put this up for sale.

    And yup westy, I know I'm not saying anything new or terribly insightful, here.....so you dont have to get your panties up in twist, just commenting on the release.

    best.

  • fabulouspoodle fabulouspoodle Feb 11, 2016 2:39 PM Flag

    It was like RB4 wasn't a big event for her. Sure, you have to look ahead and and be excited about your new product lines going forward.....mice and sticks and headsets and all that, but this quarter was all about rb4. And she glossed over it, like it wasnt her problem. And even then, the margin deficiency wasnt so much MCZ's fault as it was events beyond their control. Like Guitar Hero discounting. The CFO couldnt figure out that Guitar Hero might discount their products in the xmas season???

    There's just more to it than that. I mean Guitar Hero was no surprise...they even stated in prior calls that they felt Guitar Hero would help them b/c they had a relatively small marketing budget while GH would help the entire category by getting the news out to everyone that the musical sector was alive again. And then they were surprised that GH were very competitive? C'mon.

    Maybe, their product wasnt all that great......it had very mixed reviews to say the least, their own pricing strategy failed, they had product reliablility problems....yada yada yada. And the CFO should take some responsibility for their strategies and selling points...it wasnt just Darren.

    Karen should have spent more time reviewing what exactly went wrong with RB4.

  • Reply to

    Here's what I get for RB4 revenue...

    by microcaptrader Feb 11, 2016 12:52 PM
    fabulouspoodle fabulouspoodle Feb 11, 2016 1:36 PM Flag

    I'm not certain, but I would assume publishing revenue has very very high gross margins. So if the publishing revenue was a non-trivial amount, then MCZ must have really done horribly RB4 product to end up with these numbers, and a penny profit for the quarter.

  • Reply to

    Here's what I get for RB4 revenue...

    by microcaptrader Feb 11, 2016 12:52 PM
    fabulouspoodle fabulouspoodle Feb 11, 2016 1:29 PM Flag

    micro, doesn't mcz get some money from 'publishing'....do you know how that works, and how much of that totals.

  • Reply to

    New low

    by mugblum Feb 11, 2016 9:48 AM
    fabulouspoodle fabulouspoodle Feb 11, 2016 1:09 PM Flag

    re: " What you should worry about is why is getting as much support as he's getting"

    Sanders is getting support because Hillary is perceived to have virtually no integrity by a large portion of the public, even a significant percent of Democrats. Meanwhile, Bernie, while his promises may not lead to anything, is perceived to be uncorruptible, forthright, and has integrity up the wazoo. He says what he believes while she schemes.

  • fabulouspoodle fabulouspoodle Feb 11, 2016 11:23 AM Flag

    thanks for that info.

  • ..I know I could look it up, but, what were MCZ' total revenue without Rock Band for the past twelve months, and what was MCZ' total Gross Profit without Rock Band for the past twelve months? If its a pain to check, I certainly understand, and will check it myself later.

    best

  • fabulouspoodle fabulouspoodle Feb 11, 2016 11:05 AM Flag

    I would take the three mil cash restructuring charge off that, the dilutive effect of the secondary offering to get rb4 to market, the cost of having an inexperienced and questionable executive team (led by a new CEO who imo gave an awful conference call....she seemed to be in some pretend never never land where everything is just fine, and learned all she knows about the biz from an awful CEO). Then take the additional SG&A, and Interest expenses associated with RB4 off it.

    In any case, it doesnt really matter. Whats left after RB, is $*#@, imo. Theoretically, if RB was a success, it would have give MCZ the resources to do more interesting projects. Now we'll see if they have the money to keep producing their gazillion gaming mice.

  • fabulouspoodle fabulouspoodle Feb 11, 2016 10:31 AM Flag

    panalta, when did the CEO state 'they had plenty of cash.' Obviously, A/R should come down dramatically and be converted to cash, but they do have loads of payables and short term debt. Plus, MCZ will probably break their bank covenants and could be forced to refi under some duress. No normal institution would loan MCZ money at a reasonable rate....with the obvious exception of the current lender, maybe. MCZ will have a hard time raising the cash they need.

    RB4 was just a disastrous money losing failure.

  • Reply to

    back in NAII

    by hopeful200 Feb 10, 2016 9:41 AM
    fabulouspoodle fabulouspoodle Feb 10, 2016 6:36 PM Flag

    I re-entered as well. I was really surprised by the quarter's strength. Can't believe I didnt buy at least some back when it dropped to $7.

  • Reply to

    CFO Qualities

    by xwallstcfo Feb 10, 2016 9:14 AM
    fabulouspoodle fabulouspoodle Feb 10, 2016 9:24 AM Flag

    Cost cutting might have brought them up to .02/share for the quarter, imo. I mean they were basically break even for the quarter once you ex out the one time $1.2 million dollar gain due to 'change in fair value of warrant liabilities'.

  • fabulouspoodle fabulouspoodle Feb 9, 2016 9:43 PM Flag

    a8bil, I'm not assuming the death of the gaming industry. Gaming will flourish in new ways. Legacy peripherals, in particular the the commoditized types MCZ specializes in such as headsets and gaming mice and flight sticks are destined to have a profitless future. MCZ has shown during these past few years that it doesnt have the vision or ability to break into new sectors. MCZ is a company for legacy gaming on xbox's and playstations and large personal computers. It has not found a profitable route away from this shrinking market, all imo.

    best.

  • fabulouspoodle fabulouspoodle Feb 9, 2016 6:52 PM Flag

    a8bil, RB 4 is for the most part a one time event. Look at all their legacy product. The sales trajctories of these mainstay products (headsets, mice, etc) over the last several years continue do go down, along with their margins, as competition has increased dramatically (particularly in headsets), and their universe of users is shrinking. MCZ is a legacy business in a legacy market. Streamlining certainly helps, but it will not make they viable, imo.

  • ...paraphrased a bit, "I don't forsee any major changes to strategy".

    Stay the course Karen....

  • Reply to

    These BOZOS LOST MONEY ON ROCK BAND 4...

    by fabulouspoodle Feb 9, 2016 4:52 PM
    fabulouspoodle fabulouspoodle Feb 9, 2016 5:17 PM Flag

    jazz, all the new executives are promotions from within. There's no new blood from the outside. Darren is gone, but do you have confidence in this current group?

  • fabulouspoodle fabulouspoodle Feb 9, 2016 5:07 PM Flag

    The decision to not use the ATM was a poor one. She could have been selling shares at .42 just weeks back, and own that cash now when the stock is in the twenties, at a time MCZ needs cash for restructuring, debt repayment, and operations.

  • Reply to

    These BOZOS LOST MONEY ON ROCK BAND 4...

    by fabulouspoodle Feb 9, 2016 4:52 PM
    fabulouspoodle fabulouspoodle Feb 9, 2016 5:05 PM Flag

    Pleeeze, I'm not allowed to comment on poor results? Sorry, but sometimes you gotta look at reality. I am stating truth, and I'm not real happy about it. There aint no flip side to this coin.

  • Reply to

    These BOZOS LOST MONEY ON ROCK BAND 4...

    by fabulouspoodle Feb 9, 2016 4:52 PM
    fabulouspoodle fabulouspoodle Feb 9, 2016 4:59 PM Flag

    RB4 was disastrous, and led MCZ to incur a minimum of three million in restructuring which we all know will be higher. Plus it forced them to raise money in a secondary, and increase debt and interest payments for the forseeable future. They definitely lost bigtime on RB 4.

  • ...they'd be in a much better position going forward if they just raised that cash in the ATM when MCZ was trading in the .40's. It would have helped them in their restructuring, debt payments, and interest rates....and perhaps help them stave off the unmentionable. They couldnt even figure that out.

  • ....if you account for the past two quarters earnings, factored against the restructuring charges and cash they raised in the secondary. They actually lost money on this event. Unbelievable.

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