Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Nope PBHG is nothing but a SCAM! Call the transfer agent and ask them for the share structure!
Bs the TA is gagged on PBHG...lies!!!
Another fantastic close at HOD!
The scamming DILUTION of PBHG continues!!!
Buyer beware this is one of the biggest scams on the OTC!
Great numbers here!!!
Delivers Record SBC Revenue for Fourth Quarter and Full Year
WESTFORD, Mass.--(BUSINESS WIRE)-- Sonus Networks, Inc. (Nasdaq: SONS), a global leader in SIP-based communications, today announced results for the fourth quarter and full year ended December 31, 2013.
Fourth Quarter 2013 Highlights
Total revenue was $76.2 million, up 1% compared to the fourth quarter of 2012.
Total SBC revenue (including product, maintenance and services) was $41.6 million, reflecting growth of 59% compared to the fourth quarter of 2012.
Represented 55% of total Company revenue and marks the first time total SBC revenue has represented more than half of the Company's total revenue in any quarter.
SBC product revenue was $32.2 million, reflecting growth of 56% compared to fourth quarter of 2012.
Represented 70% of total product revenue, a record high for the Company.
GAAP gross margins were 63.5%; non-GAAP gross margins were 64.7% representing an increase of 570 basis points compared to non-GAAP gross margins in the fourth quarter of 2012.
GAAP earnings per share was breakeven; non-GAAP diluted earnings per share was $0.02.
Full Year 2013 Highlights
Total revenue was $276.7 million, up 9% compared to full year 2012.
Total SBC revenue (including product, maintenance and services) was $129.9 million, reflecting growth of 48% over 2012.
Represented 47% of total Company revenue.
SBC product revenue was $97.4 million, reflecting growth of 44% over 2012.
Represented 58% of total product revenue and marks the first time SBC product revenue has represented more than half of the Company's total product revenue for the full year.
Enterprise sales contributed 27% of total product revenue.
Channel sales contributed 20% of total product revenue.
GAAP gross margins were 62.3%; non-GAAP gross margins were 63.6%, representing an increase of 360 basis points compared to non-GAAP gross margins in 2012.
GAAP loss per share was $0.08; non-GAAP diluted earnings per share was $0.02.
Announced stock buyback program to repurchase up to $100 million of the Company's common stock; executed approximately $59.3 million through December 31, 2013.
Announced industry's first full-featured, unlimited scale software-based SBC.
Successfully integrated the acquisition of Network Equipment Technologies, Inc. (NET), extending the Company's SBC product portfolio into the enterprise.
Announced the acquisition of Performance Technologies, Inc. (PT) in December 2013; announced the successful closing of the transaction in February 2014.
Acquisition expected to strengthen the Company's mobility and virtualization strategies.
Added several prominent leaders to the Company's Board of Directors and management team.
Quotes
"2013 was an unprecedented year of transformation for Sonus," said Ray Dolan, president and chief executive officer. "We had record SBC results whereby SBC product revenue represented more than 50 percent of our total product revenue for the full year - a first in the Company's history. We expect this trend to strengthen in 2014 when our total SBC revenue, including product, maintenance and services, is expected to represent more than half of our total Company revenue, further underscoring our successful transformation".
Dolan continued, "During the year, we also significantly expanded our product portfolio including adding important multi-media and IMS capabilities, launching the industry's most-scalable software-based SBC, and announcing our plans to expand into diameter signaling, arguably the fastest growing market in networking. The pace of our product innovation has accelerated and we're not done yet. We plan to make another significant product announcement in the coming week and look forward to sharing this news during Mobile World Congress in Barcelona. As a testament to our strong performance and our future potential, we also recently added several prominent leaders to our management team and Board of Directors. In short, we have entered 2014 with, we believe, the industry's strongest team and most competitive product portfolio. It's an exciting time to be at Sonus."
Mark Greenquist, chief financial officer, added, "Our solid financial performance and balance sheet have enabled us to invest in our business, both organically and through acquisitions, in order to fuel our growth engine, while also returning approximately $59 million to our shareholders through our stock buyback program. We believe that the Company is very well positioned for continued growth and value creation in 2014."
Key Management and Board Member Additions
The Company recruited several recognized leaders to its management team and Board of Directors, including Mark Greenquist, former chief executive officer and chief financial officer of Telcordia Technologies, Inc., who joined as our chief financial officer in November 2013; Pamela D.A. Reeve, former president and chief executive officer of Lightbridge, Inc., who joined the Board of Directors in August 2013; Matthew W. Bross, chairman and chief executive officer of Compass-EOS and former chief technology officer of Huawei, British Telecom and Williams Communications; and Richard (Dick) J. Lynch, former executive vice president and chief technology officer of both Verizon Communications and Verizon Wireless. Messrs. Bross and Lynch joined the Board of Directors in February 2014.
Performance Technologies, Incorporated
On February 19, 2014, the Company announced the successful completion of its acquisition of Performance Technologies, Incorporated (PT). PT adds Diameter Signaling capabilities required in all-IP, IMS 4G/LTE (Long Term Evolution) networks, and is expected to fortify the Company's mobility and virtualization strategies.
Software-based SBC
On October 9, 2013, the Company announced the Sonus SBC SWe (Software edition), the industry's first software-based Session Border Controller that delivers unlimited scalability with the same advanced features and functionality of hardware on a virtualized platform. Sonus is the only vendor on the market with a common, hardened code base across its hardware and software SBC portfolio, providing customers with holistic investment protection. Scalable from as few as 25 to an unlimited number of sessions, the SBC SWe is feature equivalent to Sonus' award-winning hardware-based Sonus SBC 5000 Series. The Sonus SBC SWe addresses service providers' requirements for network functions virtualization (NFV) and software-defined networking (SDN)-enabled SBC technology to scale cloud-based delivery platforms.
Stock Buyback Program
During the fourth quarter of 2013, the Company repurchased a total of 7.7 million shares at a weighted average price of $2.87 per share, for a total of $22.3 million. Since the inception of the stock buyback program, which was authorized by the Board of Directors in July 2013, the Company has repurchased a total of 18.5 million shares for a total of $59.3 million as of December 31, 2013. Of this amount, 10.5 million shares were repurchased from the Company's two largest shareholders, thereby reducing the concentration of its shareholder base in an orderly fashion. As of December 31, 2013, there were 266.2 million shares of the Company's common stock, $0.001 par value, outstanding. Under the current plan, the Company is authorized to repurchase up to an additional $40.7 million of the Company's common stock.
Cash & Investments
The Company ended the fourth quarter of 2013 with approximately $246 million in cash and investments, which includes the impact of the share repurchases noted above.
2014 First Quarter and Full Year Outlook
The Company's outlook is based on current indications for its business, which may change during the current quarter. Gross margin, operating expenses and EPS are presented on a non-GAAP basis. A reconciliation of the non-GAAP to GAAP outlook and a statement on the use of non-GAAP financial measures are included at the end of this press release. SBC Total Revenue includes product, maintenance and services and, for the full year, also includes diameter signaling revenue relating to the acquisition of PT.
Another strong close!!!! SONS!!!!
I've got time to wait!!!!
Acquisition Expected to Strengthen Sonus Mobility and Virtualization Strategies and Expand Sonus Addressable Market by 50%
Key Takeaways:
Acquisition expected to accelerate Sonus' mobility strategy by adding Diameter Signaling capabilities required in all-IP, IMS 4G/LTE (Long Term Evolution) networks.
Acquisition expected to expand and diversify Sonus' portfolio with an integrated, virtualized Diameter and SIP-based solution.
Diameter market, which is in its infancy, is rapidly expanding and projected to grow by an average of 42% per year from 2013 through 2017, to reach nearly $1 billion, according to Exact Ventures, which would allow Sonus to expand its addressable market by 50% to nearly $3 billion in 2017.
WESTFORD, Mass.--(BUSINESS WIRE)-- Sonus Networks, Inc. (NASDAQ: SONS), a global leader in SIP communications, today announced the successful completion of its acquisition of Performance Technologies, Inc. (PT). As previously announced on December 13, 2013, Sonus and PT entered into a definitive merger agreement under which Sonus would acquire PT for $3.75 per share in cash, or approximately $34 million, net of PT's cash and excluding acquisition-related costs. The transaction was unanimously approved by the boards of directors of both companies and was also approved by PT shareholders.
The acquisition of PT enables Sonus to expand and diversify its portfolio as the combined entity expects to provide an integrated, virtualized Diameter and SIP-based solution and deliver strategic value to service providers seeking to offer new multimedia services through mobile, Cloud-based, real-time communications. PT's premier suite of IP-centric SEGway signaling products includes Diameter Signaling Controllers (DSC), which anchor the authentication, authorization and accounting messages sent across mobile networks. As the adoption of the mobile Internet grows, the DSC market is forecasted to grow by an average of 42% per year from 2013 through 2017, to reach nearly $1 billion, according to Exact Ventures.
Quotes:
Raymond P. Dolan, president and chief executive officer of Sonus, said, "We welcome the PT team, who brings invaluable expertise and a rock-solid diameter signaling product to Sonus. The combination of Sonus and PT allows us to bring together unique and complementary technologies in wireless and wireline network intelligence, which is anticipated to expand our addressable market by 50% and advance our mobility and virtualization strategies."
Strategic Benefits:
Enhanced Portfolio of Offerings. The acquisition of PT is aligned with Sonus' strategy to offer a portfolio of solutions that enables Cloud-based, real-time, multimedia communications across wireless and wireline networks. As adoption of the mobile Internet grows, Diameter is the IP-based signaling protocol standard that drives authentication, authorization and accounting messages in the IP Multimedia Subsystem (IMS) architecture of wireless 4G/LTE networks. Providing an integrated, virtualized Diameter and SIP-based solution will enable Sonus to offer a more strategic value proposition to service providers seeking to deliver new multimedia services through mobile, Cloud-based, real-time communications.
Significant Addressable Market. With 4G/LTE subscriber growth increasing, industry analysts project exponential growth in Diameter traffic to be generated by tablets, smart phones and other mobile devices. Sonus believes that the acquisition of PT positions Sonus to capture the significant opportunity this trend presents and should increase Sonus' total addressable market by 50%, from approximately $2 billion in 2017 (SBC-only) to nearly $3 billion in 2017, when combining the SBC and Diameter markets.
Complementary Assets. The DSC market is a natural extension of the Session Border Controller (SBC) market. SBCs and DSCs both serve as points of entry into core IP networks by providing security, admission control, intelligent routing and interworking capabilities. PT's SEGway Universal Diameter Routers and SS7 Signaling Systems provide tightly integrated signaling and advanced routing that span mission-critical demands of both existing and next-generation 4G/LTE and IMS networks
Guidance:
As indicated at the time the transaction was announced, the acquisition is expected to be accretive to Sonus' non-GAAP EPS for full year 2015 and mildly dilutive (two cents or less) in 2014. Further guidance will be provided when Sonus reports its fourth quarter and full year operating results on February 20, 2014.
Other Facts:
On December 13th, 2013 Sonus announced a definitive agreement to acquire PT.
Approximately 100 PT employees will join Sonus across three continents.
PT is headquartered in Rochester, NY and maintains direct sales and marketing offices in the U.S. in Raleigh, NC and Chicago, IL and international offices in London, England and Shanghai, China.
PT has Centers of Engineering Excellence in the U.S. in San Diego, CA and Rochester, NY and one in Kanata, Ottawa, Canada.
PT has a global installed base of more than 1,000 signaling system installations.
PT's SEGway Signaling solutions are deployed in more than one thousand locations globally, serving as a backbone for several premier wireless networks.
The number of 4G-LTE connections worldwide is forecast to pass one billion by 2017, according to a new study by GSMA Intelligence.
Other Resource:
Download the White Paper "Leveraging Synergies across Diameter and SIP Signaling in 4G/LTE Networks."
WESTFORD, Mass.--(BUSINESS WIRE)-- Sonus Networks, Inc. (Nasdaq: SONS), a global leader in SIP communications, today announced the appointment of Matthew W. Bross and Richard J. Lynch to its board of directors, expanding its base of directors from nine to eleven. Mr. Bross and Mr. Lynch will serve on the Corporate Development and Investment Committee and the Technology Strategy and Oversight Committee of the Board.
Bross is currently the Chairman and CEO of Compass-EOS, a pioneer in next-generation routing and silicon photonics. Prior to joining Compass-EOS, Bross was the global chief technology officer at Huawei Technologies and British Telecom (BT). As the global chief technology officer for Huawei, Bross was responsible for leading the technology and innovation strategy for the company across multiple technology and business domains including carrier, enterprise, devices, applications and services. As chief technology officer of BT, Bross was the driving force behind BT's 21st Century Network transformation program. Bross was also chief executive officer of BT Innovate, responsible for technology strategy, vision and innovation across all BT divisions. Bross was awarded a William Pitt Fellowship by Pembroke College at Cambridge University. In 2010, Bross was listed as one of the most powerful people in wireless by Fierce Wireless, and is currently on the board of directors of the EastWest Institute.
Lynch is currently president of FB Associates, LLC, which provides advisory and consulting services at the intersection of technology, marketing, and business operations. Lynch was the executive vice president and chief technology officer for Verizon Communications and Verizon Wireless. For his leadership in the early years of wireless data, Lynch was honored with the President's Award by the Cellular Telecommunications and Internet Association (CTIA). He has also been inducted into the Wireless History Foundation's Hall of Fame. Lynch currently serves on the boards of Ruckus Wireless (NYSE: RKUS) and Blackberry (NASDAQ: BBRY). He is a graduate of Lowell Technological Institute (now University of Massachusetts), where he received bachelor's and master's degrees in electrical engineering. Lynch has also completed post graduate work at the Wharton School of the University of Pennsylvania and the Johnson School of Management at Cornell University.
Howard Janzen, chairman of the board of directors, commented, "Matt and Dick are prominent industry leaders who each bring a unique combination of thought leadership and operational experience that will be invaluable to us as the company executes its next phase of growth."
Bross added, "Sonus is taking its reputation as a leading technology innovator to new levels. This is a perfect time to join the board as the company continues its successful transformation and launches into new growth markets."
Lynch added, "The company has done a tremendous job under Ray Dolan's leadership. It's an honor for me to join this world class board and executive team at a time when Sonus is demonstrating that it is becoming increasingly strategic to service providers and enterprises around the world."
Tags:
Sonus Networks, Sonus, SONS, Matthew W. Bross, Matt Bross, Richard J. Lynch, Dick Lynch, Board of Directors, Board, IP-based network solutions, SBC, SBC 1000, SBC 2000, SBC 5100, SBC 5200, SBC 9000, session border controller, VX series, session management, SIP trunking, Cloud VoIP communications, unified communications, UC, VoIP, IP, TDM.
About Sonus Networks
Sonus Networks, Inc. is a leader in IP networking with proven expertise in delivering secure, reliable and scalable next-generation infrastructure and subscriber solutions. With customers in over 50 countries across the globe and over a decade of experience in transforming networks to IP, Sonus has enabled service providers and enterprises to capture and retain users and generate significant ROI. Sonus products include session border controllers, policy/routing servers, subscriber feature servers and media and signaling gateways. Sonus products are supported by a global services team with experience in design, deployment and maintenance of some of the world's largest and most complex IP networks. For more information, visit www.sonusnet.com.
Important Information Regarding Forward-Looking Statements
The information in this release may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding future events that involve risks and uncertainties. Although Sonus believes that its expectations are based on reasonable assumptions, readers are cautioned that these forward-looking statements are only predictions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. All statements other than statements of historical facts contained in this report are forward-looking statements. Our actual results may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Sonus' business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Sonus' filings with the Securities and Exchange Commission. Any forward-looking statements represent Sonus' views only as of the date on which such statement is made, and should not be relied upon as representing Sonus' views as of any subsequent date. While Sonus may elect to update forward-looking statements at some point, Sonus specifically disclaims any obligation to do so, except as required by law.
Sonus is a registered trademark of Sonus Networks, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
Sonus Networks, Inc.
Patti Leahy, 978-614-8440
pleahy@sonusnet.com
Source: Sonus Networks, Inc.
News Provided by Acquire Media
Nice close!!!!
Nice close
Dilute at the bid then a 1 k paint of the ask!!! Scam all the way!!!!
Always good to see earnings before buying. I'm expecting earnings to be a mixed bag.
SCTY usually trades up before earnings then down after earnings are released. I know it seems strange but that's been the pattern.
Looking great here today!!!!
Good luck your gonna PBHG need it!
DILUTION SCAM for SURE!
You've apparently been buying pbhg since .05...at least that's what your posts say...doing well those shares.
No way in the world would I buy more of this SCAM!
Might as well throw money down a hole!
Awesome ill make sure to ask you how those PBHG shares are doing next week when it's at .006!
Come on fellas where's your confidence. Slap the PBHG ask and put your money where your mouth is!!! We're watching the trades!
This is even better. Make sure to look up what happened to ARTS...before the reverse merger!
http://www.starfestdirect.com/company.aspx
SCAM!!!! JOKE!!!
Be smart and don't lose money here. PBHG will surely be shut down soon!
Ummm the scam couldn't pay the bill! Lol!!!!
Yeah and while your there click the link that says about PBS holdings at the bottom of the page.
http://www.pbsholdinginc.com/
Why is the site not available?
SUPER SCAM!
You guys should smack the PBHG ASK...go for it...we will see how those shares are doing next week!
Slap the SCAM if you dare!
Lol...Wrong again...PBHG is going down as it always does. Expect huge t-trade dilution at the end of the day. .006 next week.
Buy PBHG and lose!!! Flippers can't even flip because nobody is buying at the ask.
The word is out on this SCAM!
Rlmao...nope shows how pbhg is being manipulated to sell more shares. .006 will be on the ask next week!
This is nothing but a SCAM!!
Lol...a $7 trade brought it to .0104....seven whole dollars...
Whatever with this SCAM!!!!
Huge DILUTION here today!!!
Share selling scam!
Sonus SBC SWe Demonstrates Accelerated Delivery of Unified Communications through the Service Provider Cloud with HP at Mobile World Congress 2014
Key Takeaways:
Sonus collaboration with HP highlights how service provider delivery of Cloud-based Unified Communications (UC) and Rich Communication Services (RCS) can be accelerated through virtualization.
Demonstration of the Sonus SBC SWe Session Border Controller (SBC) running on HP ProLiant servers will showcase Virtual Network Function as a Service (VNFaaS) use case, as defined by the European Telecommunications Standards Institute (ETSI) Industry Specification Group (ISG).
The joint solution will be located in HP's Mobile World Congress booth in Hall 3, Stand 3A20.
WESTFORD, Mass.--(BUSINESS WIRE)-- Sonus Networks, Inc. (Nasdaq: SONS), a global leader in SIP communications, today announced that the Sonus SBC SWe (Software edition) Session Border Controller (SBC) will be featured at Mobile World Congress 2014 as part of a joint project with HP to demonstrate how delivery of Cloud-based Unified Communications (UC) and Rich Communication Services (RCS) can be accelerated through virtualization.
The demonstration - located in the HP Mobile World Congress booth (Hall 3, Stand 3A20) - will be comprised of the Sonus SBC SWe running as a fully featured Network Functions Virtualization (NFV) application on HP ProLiant servers. The goal of NFV is to reduce the hardware, power and space requirements to deploy network functions on industry standard servers, switches and storage. The virtualization of network functions reduces dependency on dedicated hardware appliances for network operators and leads to improved scalability and customization across the entire network.
The European Telecommunications Standards Institute (ETSI) Industry Specification Group (ISG) for NFV is working to define the requirements, use cases and architecture for the virtualization of network functions. Together, Sonus and HP will demonstrate the Virtual Network Function as a Service (VNFaaS) use case, the goal of which is to allow service providers to virtualize enterprise customer premise equipment (CPE) on service providers' virtual networks so that enterprises can consume the resources they require as virtual services.
The SBC SWe can be readily deployed into existing virtualized infrastructure. The SBC SWe is the industry's first software-based SBC architected to deliver unlimited scalability with the same advanced features and functionality of Sonus' SBC 5000 Series, powering many of the world's largest service provider networks. The portability and flexibility of the SBC SWe makes it the ideal choice for service providers that have invested in virtualization technology, prefer pre-packaged "solutions in a box," require remote network deployments or want to expand opportunities into new geographic markets where deploying a hardware solution would be impractical or cost prohibitive.
Quotes:
"Sonus is helping service providers better understand how virtualization of key network elements can open new revenue opportunities through efficient, scalable Cloud-based service delivery," said Kevin Riley, chief technology officer, Sonus. "Collaboration among industry leaders is essential in moving this technology and market forward, which is why the work between Sonus and HP is critical in helping service providers best leverage their network assets."
"HP and Sonus have architected a virtual SBC demonstration that showcases how service providers can accelerate the rollout of Cloud-based Unified Communications and Rich Communication Services," said Werner Schaefer, vice president, network functions virtualization, HP. "By aggregating the SBC function at the provider edge, the virtual SBC accelerates rollout into both consumer and enterprise markets to enable broader deployment of virtualization technology."
Other Facts:
For two consecutive years, Sonus has been positioned in the Leaders quadrant of the "Magic Quadrant for Session Border Controllers" and was the largest gainer in the report published on October 21, 2013 by Gartner, Inc.
Additional Resources:
Download the whitepaper "Software-Based Session Border Controllers are Critical to the Evolution of Communications" here.
For more information about the SBC SWe, including product videos and executive interviews, visit the product site here.
Click here to download electronic copies of Sonus' reference guides: Session Border Controllers for Dummies, WebRTC for Dummies, Lync Enterprise Voice for Dummies and SIP Trunking for Dummies.
Tags/Keywords:
Sonus, SONS, SBC SWe, software SBC, SBC, session border controller, Mobile World Congress
About Sonus Networks:
Sonus helps the world's leading communications service providers and enterprises embrace the next generation of SIP-based solutions including VoIP, video and Unified Communications through secure, reliable and scalable IP networks. With customers around the globe and 15 years of experience transforming networks to IP, Sonus has enabled service providers and enterprises to capture and retain users and generate significant ROI. Sonus products include session border controllers, policy/routing servers, subscriber feature servers and media and signaling gateways. Sonus products are supported by a global services team with experience in design, deployment and maintenance of some of the world's largest and most complex IP networks. For more information, visit www.sonus.net or call 1-855-GO-SONUS.
Important Information Regarding Forward-Looking Statements:
The information in this release may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding future events that involve risks and uncertainties. Although Sonus believes that its expectations are based on reasonable assumptions, readers are cautioned that these forward-looking statements are only predictions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. All statements other than statements of historical facts contained in this report are forward-looking statements. Our actual results may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Sonus' business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Sonus' filings with the Securities and Exchange Commission. Any forward-looking statements represent Sonus' views only as of the date on which such statement is made, and should not be relied upon as representing Sonus' views as of any subsequent date. While Sonus may elect to update forward-looking statements at some point, Sonus specifically disclaims any obligation to do so, except as required by law.
Sonus Networks
Wendy Tullo, +1-972-301-4978
wtullo@sonusnet.com
Lois Paul & Partners
Anastasia Efstratios, +1-617-986-5873
anastasia_efstratios@lpp.com
or
In EMEA
EML Wildfire
Louise Andrews
sonus@emlwildfire.com
Source: Sonus Networks, Inc.
News Provided by Acquire Media
Speak of the devil...started out with a couple nice fat dumps....
What a scam!
No trades??? Did the SEC finally suspend this scam?
Higher daily highs....
Higher daily lows....
Good signs here heading into earnings which I believe is next week.
More pbhg DILUTION here again today!!!
What a SCAM!!!!
OPTT held up well today. Day isn't over yet but given a short attack and it's history of falling back I'm happy to see it did well.
Wow!!!!
It's true. Usually falls back but this news is a little different. We shall see.
Looking more like a short squeeze here today.
Lol...optt long and strong
Lol...I know how you feel. Sometimes I think there is a mass conspiracy when I buy it goes down. Had a good year last year though. I think long term optt will crush these levels!