IMHO CEO Hermansen raised expectations too high for the company
and was asked to leave, a 15 percent reduction in operation
expenses would have, all other things being equal, an increase
in earnings of .15x5M = 750,000 per quarter, also imho they are
lowering guidance relative to the 100M in earnings which would
ammount to min 25M per quarter which is about 5x what they are
getting now, if say they do only 2/5th as well as they expected
that would mean 10M quarter comming around the corner fairly
soon. of course this will not be realized in Q3 but the company
did not indicate that they would not be profitable in Q3
relative to not placing the 1 time Hermansen charge, for all
we know hermansen wanted a raise, we know he sold some of his
holdings, in all likelihood it may be much less than what he
actually holds which could indicate that he was in a pinch
for monies by quitting for severence and selling some shares
he was perhaps able to get out of some kind of pinch or raise
capitol for some particular investment vehicle, perhaps he is
going through a divorce? it happens
glta, looks like i opened this board too soon, but its very hard
to pick a bottom and the stock had been looking to bottom for
quite awhile, at the time i opened this board, oh well we will
be looking to add more in the coming months
glta
p2k
