Craig, I have always valued your posting, never more than now.
Ken, please lay off Craig, and I agree with much of what he says. And don't start on me, I am long, just as you are long.
The financial facts are not pretty, however, and Craig made a good start putting it together.
This Company is just about where it was several years ago in reporting quarterly financial results (no, I haven't ignored the $86 million in cash, which means that the torture can go on for a long time, or result in success). The main difference is that Ancor has more shares, approximately three times as much, to spread the losses to. If this were three years ago, before the great dilution, we would have seen .33/share loss, .24/share loss pro formas, instead of what we saw the other day.
Craig's backing out the earnings on investments is appropriate for .035/share this year, but that would have been an additional .10/share three years ago.
But Craig forgot that 700k came from Boeing, and this won't be repeated.
So, in summary, the financial results were lousy, except when compared to Ancor's worst.
Just my two cents on financial reporting. That being said, this company is depending upon SUN and Hitachi, and if they both don't bring home the bacon, our investment will not turn out well. if they do, we won't be looking at pitiful results such as we just saw. Don't you agree?
Ancor had a nice mini run up today, but it looks like there still are many out there who will sell on strength. |
