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Re: Numbers were right on projected target     22-Oct-09 10:22 pm    
Let's see how we did. Here is what was projected:

Q3 Revenues of at least $4.5 million-they have to make this by covenant.
Increased expenses with net loss of 2 to 4 cents, offset by 12 cents per share on asset sale giving a positive net income of 8 to 10 cents per share

Q3 revenue reported $4,574, 000 so they made their covenant by $74,000 - good.
Oops, way off on item two. They had a net income of $49,000 and made 1 cent per share. They would have lost 10 cents per share without the sale of assets, but even that would be an improvement over Q2 where the loss was 27 cents per share.

So Socket management will have a big challenge for Q4 as I am assuming that they will not be selling anymore parts of the company. I know this one was strategic.

Management does seem to be moving slowly in a positive direction. They will either have to improve revenues for Q4 by more than 10% or lower expenses accordingly.

Hope this improves the share price. I will be amazed if it goes much lower.
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jringori

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with even a Net Income due to the sale. ...
rvcraven Rate it 22-Oct-09 04:11 pm  
 
Re: Numbers were right on projected target
jringori Not rated 22-Oct-09 10:22 pm  
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Socket Mobile, Inc. (SCKT)

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