3Q earnings $.015 - Gross Margin increased huge but Jacobs sucked it all up with Wages and Benefits that went through to the moon, notice the engineering and consulting costs, this can only mean one thing, they are working on something new, unless this is just for the factory upgrade to produce more FAST1's. Notice the royalty payments, what the heck is that for??? Notice that he reduced the Amortized and defferred R&D down to nothing, otherwise we would have a loss for the period if it was in line with last year, a huge loss. I am ticked off with this, Jacobs. If they are working on something new they need to tell us, if they are raising the salaries and wages they need to tell us what that is for. On the good side Cost of Sales compaed to sales stayed low. I dont know how you guys feel about it, but I give this stock one more Q, then I stop wasting my time.
Jacobs, I hope those Meals and Entertainment were for business, I hope the royalty payment is not going into someones pocket for nothing, I hope the Wages and Benefits increase was for more staff to produce more FAST1's and not a pat on the back, I hope the increases in Travel was not a company vacation, I hope the telephone is being used to over seas calls to get more sales and not to Madame Cleo's psychic line, because if it was the future looks dim. |
