you should read the SEC filing with the MOU filed today. DOE is effectively forcing them to go out of business.
as expected the latest acquisition seems to once again fire back on management
cash is down $250mln after adjusting for one-time inflows - and operating earnings are still in the red after adjusting for derivative gains and restructuring charges
actually cash usage is down nicely and the company will easily survive three more quarters of these kind of losses. Remember they are still guiding for break even cash flows at the end of the FY. And they actually SOLD 2.6 mln phones this quarter but recognized only 1.6 mln.
tax receipt and real estate sale inflated the number - cash used was still $250 mln after taking the one off items out. Hardware sales down 25% qoq
frankly I don't see much progress here
it wasn't expected as the company needed to pre-announce the weak results some weaks ago and still missed the lowered estimates. Don't fool yourself.
they already guided for ASPs to be roughly flat in Q2, Q3 and Q4 on the call so I don't see how they will be able to reach profitability.
the company itself sees no upside, actually they sounded rather happy to keep it's guidance after the demand slowdown in Q1
nothing new I guess as full year guidance wasn't raised and margin guidance remains disappointing
there's nothing to get excited about in the earnings release - in fact DSOs look much worse and Q2 guidance is just in line with no further gross margin improvement
actually the earnings and outlook support an 30% plus dive easily tomorrow. The conference call was one of the worst I ever listened to as it became very evident that the company tried to hide substantial information about the business mix and the gross margin decline. Would expect multiple downgrades tomorrow and the stock to dive down around 35%
Text reads "PWC has resigned as auditor of Chinese mobile security $NQ Mobile due to refusal of cooperation from company management" - dated 26 minutes ago
But in contrary to ALL other Tweets there is no story linked to the headline which is somewhat suspicious. To be clear I fully think that the company is a fraud and PwC WILL resign but this news might be bogus here.
you are in love with Chinese fraudsters I guess - hopefully you took your undeserved Kandi gains in the meantime at least
there's no long side of the story - he's perfectly right while your predictions have been wrong so far. THEY WILL report a huge hedging loss next quarter.