This dude told me a few weeks ago that I needed "a fast computer" in order to "front da bid" lol. Not the sharpest knife in the drawer by any respect.
With respect to your organic growth comment, I think it's worth noting that there has been some, just that it is currently being offset by the shrinkage of business coming from the top two or three customers. The net effect is that while revenue has remained static, the customer base is becoming much more diversified, which should lead to more consistent (i.e. less lumpy) results in the future. I think the tipping point is at hand where new business wins will exceed current customer shrinkage, and who knows, maybe the big three who have been shrinking for at least a year now, have the worst behind them and will begin to grow again as well.
I recall one specific instance with regard to fight sticks where a comment was made that a new container had come through the port and cleared customs and the sticks would soon be shipped out to customers, so we know at least some product was getting through. Sounds to me like Mexico should be building a major port in the Tijuana area. It could really do some business when US longshoreman unions stage their slowdowns. Who knows, maybe MCZ is utilizing a Mexican port already given that its HQ is in San Diego.
If you figure 35% of 3q15 sales derive form Euro based countries (England is still the Pound remember), say around $14 million, and the currency hit averages out to 10%, then we're talking a potential $1.4 million forex debit. Hopefully the percentage drop in the Euro against the Dollar wasn't that high across 3q15, and was at least partially hedged.
It doesn't make me feel good to know that COBR, which was both profitable AND selling below tangible book value, was recently bought out at .25 X sales. Assuming MCZ hits revenue of $100 million TTM with 3q15, that would value the company at $0.39 per share. Horrifying. PS: Watch the FUDdites run with this.
My guess is that RB3 merch is out of production, and anything you see for sale anywhere is just left-over inventory.
I'm with you in that I "feel" Mad Catz outperformed 2q15, but I don't really have much information to #$%$. Hopefully fight sticks, racing wheels, and android/iOS controller sales added to mice any keyboards were strong enough to blow that number out of the water. My thought concerning "other" is that most (if not all) of the Amazon revenue from 3q15 sales was shipped and booked in 2q15. Given that the FireTV Controller went out of stock on 12/23/14 and has yet to be restocked, I'm thinking it's safe to assume that no inventory resupply was booked in 3q15, but that might eventually make for a nice revenue boost in 4q15.
I'm not even slightly surprised that FUD would present a low-ball estimate. However, based on the same data he purports to use, I'm still in the $35 million to $45 million range, with the understanding that to achieve the upper end of that range will have required near-perfect inventory management. Three different estimations point to $22 million from Tritton. I'm going with $5 million for Saitek and $2 million for "other".. The Mad Catz category is the big unknown IMO. 2q15 the category did $7.6 million, so if I assume 3q15 at least matched that, and sum the four categories together, I get $36.6 million in revenue which should equate to around 4 cents EPS, not accounting for any currency exchange losses.
The timing of the shelf played into the theory as well. No need to ever use it, it's very existence suppressed share demand.
That's been my #1 conspiracy theory for some time now. Those few 'out of the blue' million plus share days we had made me very suspicious.
to TheStreet's recent mention. I can't believe anybody even reads that garbage, much lest makes trades based on it.
I don't know for a fact, but I believe the obligation remains until the shorted shares are actually cancelled. Sometimes common does survive bankruptcy to some degree.
Looks like price trumps brand at GameStop.
Universal Kunai Headset - #15/501 - $10 off
Kama Stereo Headset for PlayStation 4, PS Vita - #20/501 - full price
Kama Stereo Headset for Android, iPhone®, PC, Xbox One - #31/501 - full price
which subsequently knocked the share price down to below $8. Today, earnings are back to where they were prior to the 1q15 level, but outlook is miles above where it was then. Will the stock get back above $10 this week on the strength of 2q15 and outlook alone? I didn't get to listen to the CC real time yesterday, but I read the transcript this morning. It sounds like they're finally firing on all cylinders. "1 + 1= 4.5!"