Do you happen to know the specifics of the drop in average unit selling price? i was under the impression prices were going up, and had expectations of a hgher EPS/margin.
im still happy though, dont get me wrong. the revenue guidance is great.
haaaa, i missed that part looking for the eps. nice, we may get a nice run. although it will likely be short, get in those PM/AH asks just in case.
checking your post history actually, id assume many things are new to a man of your...particular wisdom.
lol, unless 1.38 is a serious bid.
i dont think there will be fireworks with these results, but i will wait for tomorrow's conference call.
im not huge on these results, but there was depreciation to consider.
i will read the full results at a later time.
Second Quarter 2014 Financial Highlights (all results are compared to prior year period)
Revenue from continuing operations ("fishing business") increased 166.4% to $56.9 million from $21.4 million, primarily due to an increase in sales volume as a result of a larger fleet and an increase in the number of vessels.
Gross profit increased 83.7% to $16.8 million from $9.1 million, and gross margin was 29.5% compared to 42.7%, due to a decrease in the average unit selling price as well as new vessels with higher depreciation and amortization expense.
Net income from the fishing business increased 104.3% to $14.3 million, or $0.18 per diluted share, from $7.0 million, or $0.09 per diluted share.
I've theorized myself for a while that this is the new Europe market; in time we will see fair valuations, and China's supposed cooperation with the SEC is icing on the cake.
I however do not think it's over yet, China remains a much too easy target for shorts and we need a catalyst for change.
I expect a severely compromised run, and look at holding this after earnings as an above average risk to reward ratio. It is now very clear that the manipulators target this stock, and holding any considerable position is now too volatile for me given I like to use a moderate amount of margin.
I have no doubt this company is legitimate and very high quality for its price, but you can't fight these forces. I plan to sell a considerable amount above 3.50 and want half my position gone that comes to fruition. I will accumulate my position again at lower prices, but I want some very solid profits cashed this run to compensate for risk of holding, given the whims of the manipulators.
Why? It's no riskier than it ever was. There's nothing material that would suggest this. If this were the case I'd be full in margin on this.
I may be wrong, but the general 'china' theorem holds true more often than not, and once the buzz wears off, these typically go back to the base price. Traditional valuations is lost in these stocks, and it's risky to gamble that they will play a part anytime soon.
I bought at an average of 4.85 I believe and traded all the way up for over 50 percent gains. Some did better, some did worse; but those who understand this stock all did well. Hopefully we visit low 5's so I can reestablish my position soon, I'm not expecting such a valiant run as last earnings though.
Pretty low volume rise, but do we see a return to three?
It's been a while since the bash article, and the company's response with an audit of 'Prime Cheer' is overdone I think given the credibility the author...but that's good if anything. The shorts have left, but the fishing boats have not.
I don't sell at a loss unless the fundamentals drastically change. I have a lot of old junk in my portfolio that will someday pay off I'd assume.