Cliff, someone posted on the Yahoo board that Robert Hsu's investment letter issued a "sell" on the stock after recommending it earlier in the year when it was up in the 9s.
I think this is general frustration with the incredibly late annual report and complete silence since the last shareholder update in Feb that guided for 25% growth......
FWIW, I see other companies in this segment guiding for strong growth as well. I agree with you that this appears to be a steal at current levels, but management keeps shooting itself in the foot. High volume today, someone is scooping up the bargain shares. Of course, I thought this was a bargain under 6, so my timing is off and I thought they would have reported by now. Until that filing is released, and until they clear up the accounting delays, the stock will probably stay pretty cheap.
Under 5, NONE of the unexercised warrants get counted in the fds....so the forward eps would be even higher for FY10.
