Mr. Suksi and The Board of Directors. It appears to me that you have a financial management issue. No self respecting CFO would have let the financial affairs of the company reach this point. In my opinion it appears that the CFO is not really qualified to be running an organization of this size. The latest quarterly report shows that very little was done financially to protect the financial health of the company. On a year over year basis as revenues were declining (7.5% decline) very little was being done to keep operating/administrative expenses in line (3.5% decline). This responsibility falls directly on the shoulders of the Chief Financial Officer.
Your announcement of deleting the dividend should have been accompanied by the termination of this position. SOMEBODY has to take responsibility for this debacle other than the common shareholders.
As well, could you please refrain from using the following statement in future management discussion and analysis when you have no intention of acting upon it. At least twice now you have mentioned this "profound change". Do you really know what that means?
"DATA Group is focused on long-term enterprise value appreciation for investors. To do this, we are profoundly transforming our business, repositioning it for sustained profit growth by adding new revenue streams and new talent, while at the same time significantly reducing our costs and positioning ourselves for accelerated debt reduction. "
There most obviously needs to major changes in this organization starting at the very top. Before it is too late I hope you can initiate some of these profound changes.
A Shareholder.
the stock is t.dgi a 1.60 to .61 3 days ago.