I'd focus more on Year-Over-Year growth of watersports sales (if mgt. so kindly provides that data) during filing time, only because EXCS has divested and laid dormant a number of capital intensive segments (Academey, Kampus, etc.) and now will grow through the WS biz.
Who knows at this point, but reorg can bring with it some extra costs like legal fees, severence packages,etc. This is just a guess.
On the bright side.. I'd imagine they are running a tight ship in regards to the water sports segment with nice margins. Celesete led Body Glove to greatness so Im sure she is doing things correctly.
This could be the perfect opp to get in at the ground level before the summer months bring a long awaited change.
