I was curious about that dip in profits and stock price also. I read all of the SEC filings and listened to the conference calls to figure it out.As best as I can make out ATN attempted to market their products through a website which they developed. This was timed co-incidently with the beginning of the .com bust. Their website and the investment tanked causing a huge write off ( I seem to remember $3.5 million, but look for the numbers in the fy2000 report). This made most of the difference between profit and loss. ATN then did a management housecleaning and dumped it's web enterprise. Now ATN has a web presence, goracing.com, which is managed by QVC which is turning into a profitable arrangement for both. Companies make mistakes all the time, sometimes very expensive ones. Good companies/management recover, learn and move on. It appears this is what ATN has done.JK
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat