John, see #reply-10660728 for Raymond James report following
previous decline, at last Qs report. "The dog ate my homework"
excuse for missing sales, .06 or so to the bottom line missing at that point. So RJ bought the story and revised this Q estimate, which was 0.10, up to 0.14 and 0.29 for the next. Well they hit 0.06 and I'm looking into the why.
OK so like the IMF maybe we have to forgive a few million missed and
move on, everybody's got y2k problems, etc. so what are the prospects.
1) They are trying to associate their name with Fiber SAN craze however what is their product line beyond a backups management program - SAN should be a transparent aspect of this so what's the fuss.
2) OK so somebody thought the earnings was ok relative to what was
expected: Otherwise according to Raymond James in July there shouldn't
have been a stock decline, but there was and it was correct, as we now see, and Raymond James was wrong. So expectations were somehow lowered between now and July, maybe in stealth mode, or we should've
gotten more of a rise then a crash if the 0.14 was in force.
3) This is a baby yet of Computer Concepts (41% ownership) from
which Carravino hails, you own the stock (Not I) so reply what are
the cost basis of the type I options he was granted right off the bat
for his blessed presence as COB? And why should he also be 1/3
of the executive compensation comittee?
Judy Carter CEO seems to be a working stiff but what does she have to work with. In the end, this is a small software company with a product niche. They seem to be hanging about with some sexy buzzwords
but it may be pretty mundane stuff. Revenues are below earlier projections (what else is new?). 40% of stock is in company
that otherwise has negative cash flow - similar to the SGI/MIPS deal
except MIPS gives a lot more bang.
Greg |
