Dennis,
I'd like to a copy of the transcript to pick at before I jump into the numbers for categories to far. My note are lacking in this are as I new I'd be getting a copy of word for word to work with.
I see your concern and in late 1996 and first half of 1997 I think you would have had a very valid concern. It was one of mine back then. If the market is discounting Radica for the reasons you mention, then they need to take the wax out of their ears and get a new reading glasses, IMO. This is not to say you are not correct to some degree, just that that concern is a year to late. Though the rev. is from electric hand held games, it would be like saying all that MB/Parker Bros. sells is board games (something to that effect). Radica was just casino when I first bought in. Now they are a very wide range with a unique twist of 1/2 their sales being adult and 1/2 teen/kids. Having a category that brings in a large quantity of repeat sales is also very cool. Maybe I am missing something but with the growth rate of this part of the toy industry and Radica's position, it seems as simple as exposure or lack of it. We didn't have it last year and made a killing. If it is slow coming this year, we will plow along and only make over 100% anyway. same old game to a large degree. Get enough consolidation and it moves again. Rest, Report, Consolidate, Move, etc. Under valued all the way to $35 + per share.
All, IMO
Wayne |
