Glentel Inc GLNIF

RE: Earnings

[porksniffer]

The earnings were terrible. Double the revenues, double the store count and the end result is the same net income as a year ago? I did expect a rise in expenses with the Target rollout but margins are shrinking and the Canadian operations are declining. Are they practically giving merchandise away? And the "competitive landscape in Australia" is another surprise. Hopefully just a one quarter blip and with new products throughout the year earnings can start rising again.