Jeffrey,
I appreciate you looking after my well being, but I am a big boy and will live with whatever decision I make. As for the analysis of the financial results, Mr. Allen is right on. This was actually a better quarter than last. Income from operations (w/o the funny stuff) was $2,199,000 in FY98-Q2 vs. $1,039,000 in FY98-Q1 and $1,433,000 in FY97-Q2. Gross margins were also better. The only negative is the drop in sales, which can be explained to some extent by the transition to software. So overall, the real time business looks OK and is worth maybe 10 times estimated FY99 earnings of $0.20 - $0.25, or around $2 1/2. My issue has always been VOD. All bantering aside, I think they may be close, but they are not there yet. I don't make long-term commitments of my capital based on hope. I have always said when they actually get some VOD contracts, you will have plenty of opportunities to buy at a reasonable price. Until then selling hysteria and buying depression is the way to go.
BTW, for what it is worth, I think we are getting close to depression again. |
