Clearly disappointing Q4 &Year endHello everybody,
You cannot tell one that you were not expecting such atrocious Q4 and 2010 year end numbers.
This should be placed directly on the shoulders of James A. Tocher and his fellow officers and company representatives.
One has suggested and will continue to suggest that some serious house cleaning is in order.
Should it not have been clear enough for you previously, it would now be quite clear that heads should be rolling, if you will, and that the failing James A. Tocher should be unceremoniously tossed to the curb.
Clearly, Mr. Smith, the newly appointed Chairman of the Board of Directors, and his fellow independent board members should forthwith provide James A. Tocher his walking papers.
- Revenue was $11.1-million for 2010 compared with $11.6-million for 2009.
Revenue for the fourth quarter was $1.2-million for 2010 compared with $1.7-million for 2009.
- In the fourth quarter there were two one-time adjustments that decreased sales, one being a large distributor stock rotation order that was not reordered in 2010 the amount of $900,000, the other being a sales adjustment that occurred on the Aperto acquisition cut over as reported in Stockwatch news on April 16, 2010, of $600,000. Both these decreased sales.
- Gross profit was $2.8-million for 2010 and $3.2-million for 2009 with gross profit margins at 25 per cent and 27 per cent, respectively. Gross profit for the quarter was $400,000 compared with $200,000 year over year, with gross profit margins at 38 per cent and 10 per cent, respectively.
- Goodwill acquired on the Aperto acquisition of $5.0-million was fully expensed in the fourth quarter, which will eliminate future amortization charges applied against income. EBITDA (earnings before interest, taxes, depreciation and amortization) (excluding stock-based compensation) was a loss of $7.7-million for 2010, compared with a loss of $1.3-million for 2009.
It’s all red ink people. Red ink associated figures represent much of what the Tranzeo Wireless Technologies Inc/Aperto Networks enterprise senior officers seem to be great at producing, eh.
When exactly are all these expenses/costs related to the purchase of Aperto Networks going to end?
After all, the purchase of said company certainly has not helped to produce any bottom line per share profitability on behalf of previously targeted common “peasant class” Tranzeo Wireless Technologies Inc/Aperto Networks shareholders.
Note: The earn-out shares for the Aperto acquisition as of March 23, 2011, are 1,050,702 shares with the final adjustment to be completed April 16, 2011.
Requisite comment: Keep issuing shares which were to be valued at approximately $1.61 per share; this while the share price has been allowed to keep languishing extremely below that previously "all too conveniently" advertized and approximate $1.61 price point.
As previously suggested, the independent directors and the recently appointed independent Chairman of the Board of directors should go about collectively approving and mandating the very process which would require affixing a very large “fire sale” sign to the front façade of this company’s B.C (BUD) based head office location.
After all, given the consistently atrocious financial figures clearly associated with this enterprise, one could perhaps well expect that “a fire sale” vending process may very well be the only remaining way in which Tranzeo Wireless Technologies Inc/Aperto Networks enterprise representatives could somehow finally produce a bottom line positive per share figure, eh.
Get a move on Mr. Smith. This train wreck of an enterprise leaves far too much to be desired.
Sherbet2