Dont worry Julio....The drop was due to comments in the conference call related to 2 areas.
1-Even though the backlog was good, it was lower on a percentage basis than the last quarter. I have spoken to the company and they attribute this to a technical accounting situation with the calendar. This is the only reason it was lower than last year
2-BTN does about 6% of it's business in Asia. there was some talk that due to the currency crisis there, that this might, (only might) affect this business and in a worst come to worst scenario, bring it down to 5%. A 1% drop is truly minor.
Because of these 2 factors, investors got spooked, especially with how touchy the market has been lately. If you are not perfect, you suffer. In addition, BTN has always had a history of diipping after the earnings, no matter how good, and then returning to move on to new highs shortly thereafter. Why this happens is anybody's guess.
So do not despair. This company is a real gem, in every respect. It is not for short term traders,, but if you have some time, you will be rewarded. I myself used today as an opportunity to accumulate.
Hope this helps
Sammy |
