RE: CC I agree with many of your comments KerBer. This turnaround has taken a lot longer than anyone expected and frankly its a big reason why the share price is where it is. It's about execution and setting expectations. There has been some decent execution but expectation setting has been terrible and inexcusible.
Next year is the make or break year. Management has basically told us as much so they are putting all their credibility on the line (fully accountable). New products, Claas deal, Stara sales etc etc.. are all supposed to materially impact the company "next year". Also management (and those at other companies in the same industry) have correctly said that demand for product should be robust next year as many farmers have locked in prices and plantings will be very high. If we don't get at least a $10mm to $15mm lift in sales and achieve at least 8-12 cents in profit then 2013 will be a failure.
IMO, the prudent strategy is indeed to review the supply chain (gross margins NEED to get higher. they don't need to be 50% but at least need to be consistently at the 48%+ level). R&D has ramped, but so has the new product development so it'll still take a few yearsto determine if all that spend in the ast 3 years+ was worth it (if outback MAX is the "most important" product the company has ever brought to market, then expectations should be high, otherwise it'll be a failure of R&D spend). But by this time next year if the share price hasn't movd substantially, then it's time for the board to execute on some alternative strategies (i.e. sale of the business).
BTW, regarding analysts on the call, Canaccord and Dundee no longer cover HEM (analyst departures). I was surprised Fraser Mack wasn't on the call though.