Folks, we are dealing with a company that has grown rapidly. The infrastructure is still in construction.
I just got off the phone with Kristina in IR.
As to the infrastructure issue. Kristina was in the office until 10 pm preparing the SNI response release. She moved me up in the 50 phone calls she had on her desk when she saw my message. (We do get respect on SI. She knew from a prior e-mail that Pat was a fellow SIer, and wanted to get back to this large group.)
They are also in the middle of getting the Annual Report, Proxy and Form 10-K out the door. And have plenty to do to make that happen, too. (Been there, I know what it is like. Could be how I got bald.)
The 31 "Selling Side Analyst", the people who write the reports for BARS, ML, GSCO, etc. are all handled by her. Michael and Bernie do not handle these folks, unless they have a question that she can not handle, and that is rare. So you can guess her load is big.
Michael and Bernie are doing things like finishing the Form 10-K, working with sales contracts, working the auditors on quarterly review, which is required SEC work to get the Q reported, and generally getting the Q wrapped up for Q1. (Been there, their hands are full.)
The number of presentations being requested by Funds, and the like, are at an all time high. "We can't even get into the office without another request to go on the road and present Ascend." So they are very busy at Ascend, all the way around.
And Frankly, the activities sound like good ones for us longs.
Now for the good stuff:
"We're in the quiet period and I can comment on the Q."
When asked is there anything that would change Pat Mudge's report from Friday at the JP Morgan conference. "No, things appear to be on track, and we know how important this Q is to Ascend and its shareholders".
"We need this Q to go well. Many of the funds are watching from the sidelines now (to see how we do)." [They want to perform so those presentations were worth the effort].
"Lots of people are making poor guesses about what will happen to Ascend. And the market seems to be reflecting that now".
"The SNI report didn't help, either the market or my time....but we have that under control."
Generally, they don't have the staff to handle the market with kidd gloves. Which is not a surprise from an organization that is putting in its first multi-period forecasting system and is building its Oracle8 financial and management report system.
But on balance I think we are being given a buying op based on shorters who are being prompted by the SNI report and Bay' et al warnings.
I just wish I had some cash. I am margined to the hills, as ususal.
My 11:00 am scream level was not need, and I think with ASND we have to be patient.
Your Reporter, Dennis |
