Hi Rob, and anyone else who's following:
Had a brief conversation with John Fowler the CFO of Footmaxx today.
He can be reached at 416-366-3668 x313.
He didn't give me numbers, or even a very positive feeling about whether they've managed to start accelerating revenue growth, which I agree (with Rob) they've got to start doing.
He acknowledged that they're concentrating on accomplishing that but (I think) implied that controlling their costs had been crucial this year -because that's what their large investors wanted. If you check out the Board of Directors on their site, you'll see that Lawrence, Vengrowth, etc. have most of the seats on the board.
He did mention the number of systems placed as over 1,200.
At year end 1999, they had 1,175.
If they haven't increased their systems placed by a LOT more than 25 systems, that will be decidedly unimpressive.
He says they are operating at a profit before interest and taxes. That's good though the interest payments are large.
This quarter ends Sept. 30th.
He says they'll have the quarter end results out shortly after that. My guess is late October.
Maybe the most significant thing he said, in passing, was that they anticipate that stocks currently trading under the Dealers Network will be moving to the Venture Exchange as of October 1st.
Anyone else finds out anything more, please post.
Cush |
