I honesty don't understand how you could say that an earnings miss and delays are a thing of the past. I like many here thought and (hopefully still) think that ERB has potential. After all that is why one invests into this company. Myself included. But their latest earnings report was an unmitigated disaster. They not only missed on the top and bottom lines but they admitted that some of their products don't even work!! Hence they had to stop selling them. Now you can talk about all the "hoped for" acquisitions, new products, etc. but that doesn't change the facts that they even admitted that sales in some of the "new" and old markets they're in are terrible. And of course the late filings, incompetent CFO and the list goes on… At least be honest in your assessment. Continuing to paint a "bright" picture while clearly this company is struggling, is a disservice to everyone reading this board who is thinking about investing in ERB.
Silver linings? Seriously? Nothing but missteps by this company. Late reporting. Failure to hire competent C suite staff, Botched real estate deal. Losses instead of gains on a yoy basis.. Need I go on? Silver linings is akin to putting lipstick on a pig! Really upset by the total lack of communication and execution by this company.
Is it ugly enough now for you? (since you didn't think Friday's late move down was bad) BillDavis is absolutely right. This is ERB's management fault (read Mohan) for not correcting this obvious shortcoming (the lack of a qualified CFO) despite having plenty of time to do it and setting it as a priority. The street punishes companies that not only have accounting issues but also don't meet their numbers. ERB continues to do both! Not exactly a winning recipe for longs. How many problems including quarterly misses on their numbers does it take before investors flee this for good? I don't know the answer but I do know that all the rosy projections aren't exactly showing up on the bottom line. So like Bill says until they get their act together I will be critical of the management and the company to execute properly. And I'm long this stock so I'm not looking for an excuse to bash them. They seem to just not really care about their shareholders though to have these issues remain in the forefront.
You don't have to wait till Monday to see the reaction to the earnings release. And it isn't pretty. CNBC is quoting ERB's price per share down at $2.92 right now. My feeling is this is going to get very ugly come next week, which can be painted as a positive by Doc and others as a good time to buy more shares if you're so inclined. For existing shareholders with no plans to buy more this argument has absolutely no merit.
IF things go well??? The truth is that from Dec. 31, 2014 to today, ERB's stock price is down over 15%, from $3.17 to $2.68 currently. That's the reality. They've had a series of missteps and it's making ERB appear like a second rate, poorly run company. The lack of a competent CFO is glaring and can't be dismissed as they've had plenty of time to address this issue. So the point is Mohan as CEO owns this and needs to get his act together and we as shareholders have to make him accountable. If not I see very little in the way of (appreciable) share price gains and more people fleeing this stock by the day. As a shareholder I am greatly disappointed by Mohan and ERB to this point.
I agree andy, Mohan bears the responsibility for this debacle. The fact (as doctor snowman has reported) that the exact same thing happened last year makes this even worse. It shows they have not learned from their previous experience.
Not withstanding the rosy projections for the future the fact remains ERB has demonstrated that they don't have their act together as it pertains to their financial obligations to the market and their investors. That right now is the most relevant fact and can account for the drastic drop in the price per share recently.
Accounting irregularities are some of the biggest red flags for any investor and it is clearly on display for all to see. While I am long this stock this is not going well for ERB and even worse for all of the shareholders, including myself
To put this into perspective, just think of how many other "multi-national" public companies there are, that manage to comply with SEC regulations and file in a timely manner.
With Brazil, Russia and most of the Latin American economies in serious trouble, I am unsure if the fundamentals of this company are intact or not at this point.
Without proper audited financial statements we are all completely in the dark as to what their financial status is at the moment and how their business is performing.
Mohan's reputation is on the line and his "feet need to be held to the fire" until this mess can be straightened out and accurate financial statements are released.
Anyone who "declares" that they are not "bothered" by these accounting irregularities is either not a savvy investor, or simply blinded by their "hopes" for a brighter days ahead.
I speak for myself when I say that I am very upset and perturbed by these recent events and am concerned about what is happening here.
Hey enaa.. What is up with you? Threatening people and or their families is way over the line. It's one thing not to care for someone's management style, it's another thing completely to even suggest the actions in your post. You have made a huge mistake and hiding behind your keyboard is not going to make it go away.
Hey Doc.. At the one med conference Mohan specifically said there were 44 million shares in the float. (Check out the video) Where are you coming up with the 6 million figure? Just curious.
I'm not your pal, your friend or anything else. I don't know you nor do I want to know you. If you think that I believe you're here because "you care about hundreds of newbies that come here every day" then you're smoking crack or very delusional.
Really? Is that your takeaway from this? You are so misguided it is laughable. Have at it though.. if that's the way you get your kicks..
Cutting and pasting my previous post using another ID? How unoriginal. Get a life!
And Newport why is it that you care so much about what goes on here.. unless you have a stake in the action? Since you have an issue about this stock being pumped, then obviously you're on the other side of the trade. Take a chill pill, nobody here takes you seriously so just move on and try another board. Maybe you'll have better luck convincing others. You're clearly not doing well here.
Saki.. To your point about ERB issuing more shares. If you go over the presentation at the one med conference, Mohan specifically made the point that as ERB rolls more of the companies under the ERBA diagnostic entity (and away from ERBA Manheim) there will be more shares available to trade and more value to the shares themselves as ERBA Diagnostics increases their size and scope as a company. Also according to Mohan they might make other "outside" acquisitions as well. That should also strengthen ERB's position and thus the share price should rise as well.
Amen Stevie. Just ignore the noise of the ignorant. That presentation at the one med conference was very enlightening and if all goes as planned should propel ERBA higher.
Whatever he is smoking is clearly making him delusional..and that's the best thing that can be said for him and others like him.
Hey Freak.. here's a tip for you.. when you look around and you see people write intelligent and informative postings about this company, versus you who write nothing but the same old drivel, the answer is very easy. You're the freak!! Oh and hear's another little clue for you, all the intelligent people on here already know that. So keep up your little diatribes, they do nothing but re-enforce your lack of intelligence.