Re: Retracts 2010 Guidance 27-Jul-10 08:05 pm Obviously the guidance retraction was in a sense a face saving move so they don't have to revise it down for the second time in a few months. The issue being that there is no real visibility on when foreclosures will start to hit again, meaning they never should have issued guidance in the first place. But because Stern is what he is, inexperienced with a publically traded company and far too optimistic in his view of the future, they went ahead with it. I think the fund managers bought it to what he was saying, figuratively and literally, and the rest, as they say, is history.
What matters from here, after things settle down, is how accretive Timios will eventually be, how quickly the conversion customer ramps up file volume, and the seemingless endless wait for the inevitable wave of foreclosures forestalled by efforts to keep the lid on until after the Nov. elections by the administration.
I suspect the next CC will set the tone for whether the short funds think they can squeeze any more blood out of it and whether long oriented funds think it is cheap. Nobody knows what the heck they'll earn this year. With lower file volume and higher operational costs anywhere from $0.80-$1.20 is possible. But even on the low end of that range the current price is just 6x forward EPS.
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