Tough call Caly. I don't own any currently, but if in fact I did, I don't know that I'd sell either. Year-end 6/30 will be reported by the end of September here, and I'm tending to think that it may not have been terrific, if only because there has been no prelude announcement as to the sales or earnings from the company.
The 3rd Q (3/31/99) showed substantial revenue gains mainly from a large acquisition (Cook Bates) but EPS was, surprisingly, negative. The company has plenty of working capital, but is also financing a fairly hefty $10 million dollar long term debt. 3/31/99 equity was approx $12 million or about $.73 per share.
As I said I'm disappointed with recent operating results. And it ain't helping the stock price any that former CEO Jim Munn is selling his stock. BUT, what really makes this situation quite interesting is the continual offsetting insider buying. Geoffrey Tirman and associates certainly must see positives that the market doesn't or simply can't.
Personally, I'll be looking closely at the 4th Q to see if operations have improved and if the debt is being effectively managed.
Other than all of that garbage, I don't know which way to go with it, so I opt to wait. Sorry this probably doesn't help you much, but your guess is better than any.(gg)
dax |
