I'm also not impressed with managements disclosure and earnings guidance contradictions.
How can 2015 earnings guidance be between 3 and 4 cents per share when at worst the cancellation of the SA contract should only negatively impact earnings by 0.375 cents (3mth @ 1.5c p/a)?
Even if earnings growth was going to be 0% for 2015 the minimum now should only be 4c, so what happened to the other 1c and the 10% earnings rollover from 2014 and any forecast growth for 2015?
How will this all impact 2016 results?
How much revenue was this SA contract providing and how much were GLH spending on it to keep it operational? Has it just been a cash cow that has been used to hide poor margins on their new products?
I really feel we are being left in the dark, which is quite concerning given the size of this issue.
I'm out - i consider management to be poor, page-2
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