Conference callI dialed in to the conference call yesterday, EFN lost two large clients due to the implementation of a new technology. From what I heard the migration turned into headaches for many clients.
The BOD decided that their given skill set was in the best interest of the shareholders than a buyout, the stock price seems to reflect that decision this morning. EFN says that they are the Elephant in the room
Revenue hit will be 3-5% for 2018, my guess is the analyst did not buy that rosey number and are concerned more attrition could be possible.
Staff layoffs have occurred.
Painted a rosey picture for 2019 and beyond which is to far in advance for this market to stomach.
Company spins out $300-$400 million in free cash flow which they will direct to share buybacks and dividends.
The analyst seemed fairly discouraged in their tone when questioning,