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5/27/11 11:22AM
RE: Author Exit Recommendation
14
We still hold a small position but have trimmed due to valuation. Lots of changes have ocurred in the last couple of years - some good, others not-so-great in our opinion. In general, the new... login to read the rest
Nails - Sorry for taking so long to reply on this.
We are pretty happy with the deal however have a couple of concerns.
Positives:
Overall the quality / price / financing of deal was clearly value-creating.
The... login to read the rest
Hi,
I was wondering if you could elaborate on the tax assets - you refer to a $280mm tax asset and a $10mm recurring annual tax benefit - I could not find any info on this... login to read the rest
Yes, I do think it is sustainable. Firstly, 2009 was abnormally high as a proportion of sales. Secondly it seems that Mannely is committed to finance any new spending on core brands by taking A&P... login to read the rest
Roc,
I just listened to the conference call and overall I think it was a pretty good quarter. Here is a breakdown of my thoughts:
The good news:
- Debt paydown has been impressive, down 19MM to 319... login to read the rest
Roc,
I apologize for the belated replay.
Yes, the company reported good results - solid earnings despite a small drop in sales, due mainly to lower debt load and cost cuts.
Of much more interest was the conference... login to read the rest
Thrive,
Good job on this one. Earnings looked stellar.
What do you think of the new CEO? How about his comments on the call about corporate priorities and shifting focus to building the brands? What was his
Unfortunately there isn't a lot of clarity around his departure. As I mentioned, the official story is "divergent views on strategic direction", which I know is vague. Since Pettie was actually doing a good job... login to read the rest
I realized on my post that, among all my grammar errors, I didn't elaborate on what they are changing with respect to their sales force. I meant to state that they are replacing their outsourced... login to read the rest
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