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Stocks U / UTStarcom
|Subject: another preannouncement||Date: 10/7/2005 11:26 AM|
|Author: Sigma8squared||Number: 471 of 489|
The customary preannouncement came on schedule yesterday:
There wasn't much revealed on the conference call so I will keep this update short. The negatives from my point of view are that the IPTV and the BB initiatives are once again not going as well as one would hope. To a lessor known extent the general gross margins in the quarter are a bit lower than guided. The positives are that those were the only negatives. The fact that overall Q3 was going to be ugly, that there may be intangible writedowns and the SEC is sniffing around I thought were either known previously or meaningless(but judging by the stock reaction my thinking here may be flawed). There were no indications that cashflows will be weaker than guided or that backlogs are not shipping as planned. The cashflows in particular are far and away the most important item to me since I feel like the stock is priced like the company has a good chance of going broke which isn't going to happen as long as they have positive cashflow.
Stay tuned for early November news and conference call.
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