| To: rdkflorida2 who wrote (170) | 3/28/2023 9:52:19 AM | | From: rdkflorida2 | | | | | Raw material shortages will hurt AIRI. It's unfortunate, but that is reality. Hopefully new contracts where there are no raw material shortages will pick up the slack. I believe the submarine work will do that, but it will take time. I am on hold with any new buying. Markets will not take this well. PPS will be pushed down to bargain levels. Glad I was only adding at a "snails" pace. Plenty of cash to take advantage of the panic selling I see coming. TWT if I am right on this. RDK |
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| To: rdkflorida2 who wrote (171) | 3/28/2023 11:31:06 AM | | From: ndxcharm | | | | Management comments in Q3 call leads me to believe raw material shortages was a Q3 issue. They were expecting a stronger Q4.
Delay in reporting and lack of communication bothers me. It shouldn't. This is par for the course for this company. |
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| To: rdkflorida2 who wrote (173) | 3/31/2023 1:10:50 PM | | From: gizwick | | | | A lot of bad news is priced in at this point. Unless we get a black swan event and the future remains strong I can’t see a huge pullback from here. I have a lot of dry powder if it drops and nothing has materially changed.
Over reaction is our friend. |
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| To: rdkflorida2 who wrote (175) | 4/4/2023 2:49:21 PM | | From: ndxcharm | | | | Seekingalpha has the call transcript
seekingalpha.com
Very little details presented
53.2M for FY22 Revenue
13.85M for Q4
Raw material shortage/supply chain blamed for underperformance this quarter and full year
Bottom-line numbers not given, but can't be good. They said they booked $850k loss on an unprofitable product to be delivered into 2023.
Reason given for delayed filing is the move from small accounting firm to large accounting firm. This change caused process misalignment between company and how the new auditor handle things.
Expect inventory write-downs - and resulting non-cash expenses flow through the income statement and affect multiple accounts. Expect changes in accounting policy related to expensing old inventory. Seems like new auditors are not onboard with existing way of doing things.
I have to admit I went into this call with low expectations, but somehow still felt disappointed.
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| To: ndxcharm who wrote (176) | 4/4/2023 2:54:05 PM | | From: rdkflorida2 | | | | | `Thanks. I expected something like this. Coming out with this early in the week is a good indication of something good coming in the near future. Maybe some new contracts. Overall backlog will keep the pps from falling too far, imho. Today's trading looks like a positive to me. Again, thanks. RDK |
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