I'm tempted to grab some NAII AH. I actually breathed a sigh of relief when I read the PR. Figured something bad was up with the earnings delay. Possibly disastrous. But Q2 turned out pretty decent. Excellent earnings considering the lower revenues. And if they hit 10% revenue guidance, would suggest fiscal Q3 & Q4 revenues average similar to Q2. The contract manufacturing is much lower margin. So they could still earn .30+/share in those quarters. And then business is supposed to pick up again. Back to .40-.50 quarters. Balance sheet looks awesome with $3.20/share in cash. Stock could be an incredible bargain below $10.
Of course I'm wondering why we did just now learn about this contract manufacturing slowdown. And why the heck did the CEO boldly give revenue guidance for the first time last quarter. They had no idea this was coming? Not good. And makes me wonder how he we can believe his forecast now.
NAII - second half revenues will now be down fairly sharply vs last year
Rough math: expected 125M revenue (at 5% to 10% growth) over 114M total revenue last year with 65M revenue in at 6 months leaves 60M revenue upcoming in Q's 3 & 4 of this year in comparison to 66M revs in Q's 3 & 4 of last year.
Down by only $6M revenue in 2nd half / year over year?
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