- Shares of Tangoe (TNGO -5.8%) are falling after SA contributor The Forensic Factor calls the company's reporting "a farce," with EPS figures overstated by as much as 38% and a dubious restructuring charge inflating results.
- The author also takes aim at the disconnect between the company's PRs and revenue generation, noting that annualized incremental revenue per customer has "declined percipitously in 2013" from $410K in 2012 to $109K in 1H 2013.
- Another allegation: organic revenue figures are materially misstated with irregularities clouding Tangoe's acquisitions reporting.
- The Forensic Factor continues that Tangoe's cash position is eroding (even as the company posts positive FCFs) with the imminent necessity of a follow-on.
- What is Tangoe's intrinsic valuation? $3.92/share, the author concludes. Tangoe shares opened at $20.35.
From other sites
at CNBC.com (Aug 26, 2013)
at CNBC.com (Feb 14, 2012)
at CNBC.com (Jul 27, 2011)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs