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  • Why Providence Is Positioned To Win In The Age Of Healthcare Reform [View article]
    Today's 34% increase in share price due to the planned buyout of Ingeus is pretty wild. Any thoughts? I have been long PRSC for 3 years.
    Apr 1 09:34 PM | 1 Like Like |Link to Comment
  • Liquidity Services: Looks To Be A Good Value Play For 2014 [View article]
    Over 34% of the float is short. Does anyone know why? Does an improving economy and better business conditions mean that less merchandise needs to be liquidated?
    Dec 17 07:14 PM | 2 Likes Like |Link to Comment
  • Commtouch Software: A Return To Earnings Growth To Reward Investors [View article]
    They are simply trying to juggle too many balls at the same time:
    1. A major acquisition
    2. Moving headquarters halfway around the world to another country.
    3. Hiring new salesmen for a new product
    4. Acquiring a German company operating only in Germany
    5 Trying to launch a new web based antivirus product, and then deferring the launch.
    6. Running low on cash and dipping into their line of credit
    7. Hiring new management
    8. Dealing with German, Hebrew and English language speakers
    Dec 2 09:47 PM | 1 Like Like |Link to Comment
  • Commtouch Software: A Return To Earnings Growth To Reward Investors [View article]
    It takes a lot of chutzpah (Yiddish for audacity) for a small Israeli company, whose employees speak Hebrew, to make a major acquisition, requiring 3 years worth of large earnout payments, of a German company, whose employees speak German, then move their headquarters to Tysons Corner, Virginia in order to sell to English speaking customers. They then had to hire new employees to work in the Virginia headquarters, and they had to hire new salesmen in Virginia who speak English. All of this was supposed to go smoothly, but it didn't. They pushed back the introduction of their new web based antivirus product. Now they have to depend on their credit line for cash, and they are not doing a good job of managing working capital. Be careful on this one.
    Nov 28 07:15 AM | 1 Like Like |Link to Comment
  • Commtouch Software: A Return To Earnings Growth To Reward Investors [View article]
    I am a little concerned with liquidity here. Cash is $4M but they took out $3M on their credit line. Nine months cash flow from operations was only $0.3M, but capex was $1.6M. Acquisition earnout payments were $4M in the last 9 months, with another $1M earnout payment due this year and $6.4M due over the next 2 years. Receivables of $5.8M and payables of only $0.8M. Why don't they collect on their receivables? What do the credit line's covenants require? Any thoughts on liquidity?
    Nov 27 07:47 PM | Likes Like |Link to Comment
  • Long Fossil Group: A Company With An Army Of Strong Brands [View article]
    "Fossil's revenue comes largely from its watch segment, bringing in nearly 74.9% of the revenues in 2012."

    There are a lot of smartwatches about to come on the market, such as the Apple iWatch and the Google Watch. Is this a concern?
    Jul 10 01:07 PM | Likes Like |Link to Comment
  • The Hackett Group: 15%+ Earnings Yield, 19%+ FCF Yield [View article]
    The company spent $48M on net share repurchases from FY07 through FY11 yet the share count went up by 8.5M shares during that time. This company is NOT being run for the shareholders.
    Jan 26 01:24 AM | 1 Like Like |Link to Comment
  • Street Overreacts To Supervalu Earnings; Provides Attractive Buy Opportunity [View article]
    Why are inventories up 15% from last year?
    Jan 12 09:50 AM | Likes Like |Link to Comment