I just finished reading the transcript of the earnings conference call. Nothing new, nothing surprising. As far as I can tell, the short quote about relative sales strength in the press release says everything, and was repeated in the opening statement:
During the quarter, we continue to see strong sales from professional IP security cameras and automotive aftermarket dash cameras, as well as from new markets, including flying cameras and home monitoring cameras. This revenue growth was largely offset, however, by a continued decline in the wearable sports camera market.
Management spent a lot of time stressing their focus on product diversification. This is a great long-term move for the company, however I see hints that they have no clue when (if?) this will help profits.
For example:
Kevin Cassidy - Stifel, Nicolaus & Co., Inc.
Thank you. Thanks for taking my question. George, last quarter, you gave rough guidance for fiscal year 2017. Do you want to update that guidance?
George W. Laplante - Chief Financial Officer
I’m not going to update it on this call. I think, as everybody recognizes, the headwinds we have in the sports camera market, it is going to be a challenge this year. But I think, at this point, I’d like to see the timing, and really when this sort of revenue stream will start coming back. So, I think once I understand that better, I will update the annual numbers.
Lots of uncertainty for the future which is reflected in the 7% price drop today.
I don’t see anything that we did not know before the earnings call.