Punters get sucked in by what the Company says .... and the continued hope that this time is different
Last 8 earnings related announcements
16th August 2013
Report a $6.6m (normalised) NPAT and say ‘we believe the Company is now well positioned to lift future profitability.’
Shareprice week after announcement $1.65
19th November 2013
Expecting a better year with NPAT in the $8 to $10 million tax-paid range.
Shareprice $1.90
28th February 2014
(Tales of woe and misery) we are revising our earnings outlook to $6 to $9 million
Shareprice week after announcement $1.65
26th June 2014
(No tales of woes and misery) but guidance is now between $5 million and $6 million NPAT
Shareprice really should be less than $1
22 August 2014
Announced earnings of $5.8m which disappointingly were down 13% on pcp but at the upper end of guidance (good guess in June eh). But not our fault as it was all Cavalier Wool Holdings fault. The FY15 Budget is a modest increase on the $5.8m - so all is well and we are progressing well, may evn pay a dividend. We will update at the ASM in November.
24 October 2014
Tales of woe and misery and **** things are pretty bad, so bad we it is unlikely we will achieve the $5.8m after all
Shareprice plunges to 90 cents
22 November 2014
At the monthly piss up lunch (sorry Board Meeting) it was decided they really to quantify what unlikely is and drew some numbers out of the hat - and the answer is normalised tax-paid earnings for the 2015 year was in the range of $1 million to $4 million and the shareprice plunges to close at 60 cents
20 February 2015
Tough trading conditions continue and just so many 'adverse macro events' that are out of our control means we report a petty cash size profit. Heaps better than a loss. Board thinks they can't afford to piss off punters anymore (jeez look at what happened last time) so guidance of $1m to $4m remains in place - really saying we have no idea but hoping like hell things get better
Share price 48 cents
Should keep track of the promises - and my morbid fascination with impending train wrecks continue. At least it keeps me from getting tempted, for now
Independent director Graeme Edmond has resigned. A short spell - appointed February, 2014. Could be any number of reasons but it's not encouraging for a company to lose a director so quickly.
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