Marvin, Brad, Steve, Carey...ATT I do not hold an IDX position. I am long CELL, RADAF, CYMI...not selling. My backgound is in magazine publishing...high tech titles. I left about the time MDFT went public, but logged 25 years dealing with high tech companies. I have no finance or technology education, but dealt with sales, budgets, and P&L for the titles (like mini divisions)...no corporate finance time. West Coast buddy signs off on Imperial OK. SEC drawn to my post is indeed silly...I totally agree. (Someone else had suggested the "commission" would look into my first post...I expressed doubt then, and now.) I compared $625,000 doubtful (balance sheet) to Q sales, would have been better to use YTD. Sales returns aren't really written off but it suprised me to see 3.8%. These just "feel" like big numbers to me. Too, for every $21 uncollected, IDX has $1 in hand.
That IS startling to me....no wonder they have to borrow...customers aren't paying in a timely manner (?). We watched AR's like hawks, because the company accountants watched us, and went to the bank only never...because the rates were greater than our margins. Even at that, inflation hid a lot of management error...but only for a while.
I saw three recessions, the techs always recovered bigger than they fell. There are some things I like. CR is 2.17:1...positive. QR is not. The company is a holder of compelling technology, and I can envision dramatic market adoption of it in many applications, they clearly are doing the R&D. The company is also acquisitive, and appears to be emerging as the gorilla...maybe not proven yet, but that looks like the track. I still have dry powder, and like to take reasoned positions. I'm not a speculator, I don't go in without my reservations crossed off. So far guys, in nearly 22 years, I've had one serious loser, and a bunch of major wins. The amazing thing, now that we have this technology, is that I could have done that mostly on my own. I had an advantage. I visited lots of companies. Chaz. |
