the_Bird

Looking Through the LENS: Another Cheapie, or Just a Cigar Butt? (LENS)

What good does the $30M in cash/short-term securities do them when they're burning through cash? The balance sheet may not be atrocious now, but give it a couple quarters. There's no path to profitability here, nobody buys disposable cameras anymore. Sales dropped in the latest quarter from $26.2M to $18.9M. Cash flow from operations was -$10.5M last quarter.

Not to mention that the disposable camera business - in the day and age of ubiquitous digital and cell phone cameras - is in its death spiral.

Value trap, plain and simple. Without some kind of catalyst, value will continue to be eroded. The only thing I can think of off the top of my head that might *save* equityholders is if they took the company private.