SRTS ($3.23) The other thing that bothers me about these guys is they seem to have departed from the way they used to do things. From my recollection, they used to be real straight shooters, just reporting earnings. Purposely didn't "give guidance" or play the pre-announcement game, or any of that stuff. But since they got blindsided by their business collapsing like 70-80% in one quarter (or however much it was) it seems like mgt has been trying to justify their existence and prove they know what's going on with their business.
In last couple of conf calls, CEO made a big deal of how he thought they would sell 60 systems in 2023. But from what I recall, he also said nothing about earnings. So this PR sounds a little like, "See! We met my guidance, just like I said. I know what I'm doing! Things are under control." Why announce it now, rather than two weeks from now? What's the point? It might be very good news, but it might just be an ego thing also. It's even kind of sloppily written, imo. In the first paragraph it says the company,
"today announces preliminary unaudited financial results for the three and 12 months ended December 31, 2023."
But this isn't really correct, as all they announced was revenue. Where's the part that says, "we expect Q4 earnings to be in the range of .02-.04 per share." And that comes back to the point of why do this at all when you'll announce the whole thing 2 weeks from now?
Could be great news, but could also be a way to get a bump in the stock price when you know earnings are going to be negative. If you announce a loss of (.02) per share, is it better to have the stock price at $3.50 when you announce the loss, or at $2.50 and drift down even further? I think when CEO's are distressed they often start thinking like that and do anything they can to bump the stock price ahead of earnings.
Would love to see these guys get back on track, but I'm always suspicious of these types of "pre-announcements" or whatever you want to call them.
