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Mesabi Trust Message Board

tigerpac 2 posts  |  Last Activity: May 8, 2014 6:44 PM Member since: Aug 2, 1998
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  • tigerpac by tigerpac May 8, 2014 6:44 PM Flag

    Amounts to 57 cents per share.....the 83 cent drop was a over-reaction due to all the selling today....probably will head up at least two bits until we get closer to the record date.

  • Reply to

    Earnings are out

    by nelonline May 8, 2014 7:58 AM
    tigerpac tigerpac May 8, 2014 6:38 PM Flag

    They added 4.1 million in sales from the Convergent acquisition but a real problems is that they haven't seemed to cut any costs associated with the business. In other words, the head count at Convergent is essentially the same. Usually when you acquire a company you can chop the administrative costs (laying off duplicate functions...start with accounting) and role it into your organization. Sure a few people from the old company will stay on board but not everyone. Maybe the workforce reduction with happen in the next couple of quarters.

    Sentiment: Hold

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