There is the possibility that what you have identified as management sloth is actually being done by design.

Some years back, Alfred Teo was appointed to the Navarre BOD, and at the time he owned about 17.5% of Musicland, where this same policy of "underpromise and overdeliver" was pursued, ultimately resulting in the sale of a $1.63 company to BBY for $12.55. Keith Benson, a current Navarre board member, was the Musicland CFO and vice-chairman in those days, and has been with Navarre longer than Porter. I have always suspected Benson had the major hand in the selection of Porter, and that these guys are accustomed to swinging for home runs. That is, they wouldn't care if the stock is right now trading for a buck or two less than it might be, because they expect to run it up to a 10-, 15-, or 20-bagger over a longer time. For that purpose, merely ratcheting up the results serves just fine, without trumpeting each individual quarterly triumph separately.

Finally, think about how the motives of people holding tens to hundreds of thousands of shares might differ from those of us holding hundreds to thousands:
The larger holders can't trade in and out of a thinly-traded stock like this without tanking the price, so they might well prefer to see the price rise to a higher level over a longer period of time. This also militates against spinning each individual press release for the maximum short-term price effect.