Justforfun7, Duquette is the CEO of NCNC, and he has promised big things in the past:
"``Our return to profitability in the first half of 2005 and backlog of millions of dollars in new business for the third quarter alone, together with our recent announcement that we will be assembling Quilite(r) blocks, which alone should add an additional $0.05 per share in net earnings during 2005 for the company, provides us with a new platform from which to grow as we look ahead.
As previously announced, Quilite expects to generate a minimum of $10 million in revenue in 2006, with gross margins of about 30 percent. "
-from the Q2 05 PR dated Aug 23, 2005
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As far as I can tell, there were no Quilite revenues even booked in FY05, let alone adding 0.05 per share.
I'm firmly in the camp of "prove it to me...." I agree with Sskillz assessment that pretax margins actually fell in Q4 vs Q3 and don't inspire much confidence that he can hit a 0.06 quarter.....yet. We still don't have all the info, and it is possible that a big Quilite order is out there. Of course, that would also jack up the valuation price and the additional dilution for the final piece of the Quilite acquisition.
I was also among the sellers today, although I kept about 25% of my original position.
AI
