Investors sent the shares down almost 10% on the announced losses and declining sales before the company rebounded Friday with a 3%+ gain.
Personally, I think that while the 0.60/share loss seems like “bad” news despite the improvement year over year, the thesis that LENS is first an asset play before anything else remains the same. The company continues to trade at around half of book value, and, reassuringly, has bolstered its cash position and cut inventory.
I’ll follow up soon with more details.
Disclosure: Author owns stock in LENS.
LENS 1-yr chart