Left Shark Investing
Long/short equity, value, growth

Perceptron: The Beauty Of Low Expectations

Perceptron (NASDAQ:PRCP) is a microcap company that makes automated industrial dimensional inspection and 3D scanning products. Approximately 80% of their sales go to the auto industry. Despite being a small company, Perceptron has subsidiaries in 13 countries and sells into the majority of the world's major automakers. Sales in fiscal 2015 were $74 million.

From an investor standpoint, Perceptron has been a disappointment over the last few years with a highly volatile share price and financial results. Although revenue has increased, margins have shrunk while administrative costs have ballooned. I believe this negative trajectory can be traced back to the appointment of a new CEO two years ago. This performance likely came to a head as the CEO

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