Hi sabre, There is no such thing as a daily buyback, the buyback is for a twelve month period and they can do it at any time and even not at all. A company doing a buyback must keep the market fully informed and are required to lodge an Appendix 3E, which is the "daily share buy-back notice". Under the rules of the buy-back, there is a maximum allowed price. This ensures that the shares are bought in the interests of remaining shareholders and not just padding the pockets of daytraders, and the price of the company is not artificially raised. According to the last daily share buy-back notice, the maximum they are allowed to pay at the moment is $0.291, therefore you won't see any buying right now. Where I do agree with you is that when the price is under the maximum, they don't seem to be buying too many and there have certainly been some opportunities where they could have bought more (IMHO). If the full year results and the ongoing forecasts are likely to be good, the shares aren't going to get any cheaper than this. The buy-back also isn't done directly by the company, there are appointed brokers who buy on their behalf. Who knows what directions they have and how closely they are being driven (and dare I say, what they may be doing for their own customers).
Bring on the good news. Let's see a big profit, big dividend and bigger forecast. I don't see the 40/100Gig encryptor making a big drive to their market, so I wouldn't expect them to rush it out. While they have the fastest around, it can wait (unless it will give them a bigger margin on existing sales). What I'm really waiting to see are the new lines that encrypt channels other than SONET. This will multiple their sales rather than just stepping them up a little.... new markets on top of the current ones ... mmmmm! INSIDER, when are the new lines coming out??
SEN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
