My criticism of the quarterly mostly relates to the lack of forward earnings guidance (given we are close to insolvent on a cash flow basis) and details of the cost-savings measures being implemented.
Don't get me wrong, I support the change in strategy (to a more customer-centric business model) and I believe Doug can steer the company back to profitability. I do however stand by my comment that Denica is the most talented individual in our executive leadership team.
Our SP is at a 52-week low and there's nothing in the last quarterly that suggests we shouldn't expect more SP pain in the near-term. The market wants to see evidence of a return to profitability and some big wins on the new client front. Part of Doug's job is clearly communicating these things to the market, and in my view he has fallen short in this area and shareholders are well within their rights to expect more (particularly from a CEO on >$500k/year).
CLH Price at posting:
10.5¢ Sentiment: None Disclosure: Held
