New Economy: Think, think, think and then think some more. Do you really believe this nonsense about last minute orders? Come on, give me a break. If it's true, then I would say that things are downright ugly at Newbridge because what you're telling me is that the company came that close to having a very awful quarter as opposed to just a bad one. What sort of revenue and earnings would they be reporting if these late incoming orders had not materialized? There is no consistency to their revenue stream and earnings as we can see and that explains why their earnings and revenues are so erratic. Or is it only the $115 million order that was late and unfilled? Yeah right, and if you believe that, I'll sell you the Brooklyn Bridge.
It will take the company many quarters just to straighten out their production mess, by which time, other, more serious problems could surface to blind-side management. In six months they could be facing severe pricing pressures, margin erosion, technological changes, and other difficulties that are beyond management's ability to cope. |
