Hon continues to do a good job taking cost out and driving value for the investors, but can they deliver any revenue growth? We have heard about new products from this management team for the past several quarters, but it doesn't seem to be doing anything for organic growth. This has been a nice stock for awhile now, but I'm not sure how much longer they can cut their way to profitability.
They are doing restructuring and cost cutting again. Cote has the formula down...when you can't make your numbers because sales are flat, just cut your way to improved profits. Morale will suck, but Dave will make his numbers.