Well, follow the tone of the posting. The logic, which I must admit makes sense, goes this way: If they can't meet the date for reporting earnings, how can they possibly have any idea what the earnings will be?
Now if you step back and ask yourself the following question: Is a delay in reporting earnings, for a year that is not representative of the current makeup of the company, reflective of anything that the company is going to do in FY2000 and beyond?
The insiders, family, friends, and Asian colleagues could care less about an earnings release of 4/9 or 4/12 or 4/19 etc. Two, three, four, five cents EPS for FY ending 1/31/99? Immaterial. Now, those people hold a lot of shares in this company and they are not selling.
Now, when you examine the makeup of the other shareholders(a significant portion who just might be reading this post), different story alltogether. 4/9 release means something good, 4/16 release is bad.....02 EPS is the kiss of death, .04 EPS is good. Since this is the group that has done the vast majority of the buying and selling of SETO, slippages/improvements mean everything to the stock price.
But you, me, a small few on SI, and the people in New York and Malaysia know it has absolutely nothing to do with the intrinsic value of the Company.
Only because I don't want the stock price to return to those abysmal levels, do I really hope they make earnings and the filing date. If not, the price will be heading south for sure.
TG
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