decaff coffey

SP sure taking a hammering at present so went back to the full year and half year results for reassurance. Could it be some tax time selling or is there a more sinister story?
Bit of a sad story of declining revenues and profitability over the last few years to the point that the market capitalisation of the company is approx 30% lower than the debt. Not necessarily a problem in a services company I know, but the gearing ratio must be close to 40% by now.I suppose it all depends upon when and if the slide in revenue stops and hopefully reverses. With the Asia Pacific region still providing the bulk of the revenue in 2010, I sure hope that we are picking up more than our fair share of the mining boom investment. However, I have no real idea how Coffey are going in Australia as there seems to be little information released recently (apart from the South American mine).
How would the company survive another year like 2010? What happens if revenues fall further? Has the cost cutting damaged the chances of capitalising on the mining boom? Is the $0.52 sp an accurate assessment of the chances of this once great little company returning to a profitable position? Any analysis would be appreciated.