Same lack of consistency.
He says he expects to see $50m in the year, but a few weeks ago it was $60m. In Q3 it was $45-50m.
He expects to see $15-20m in new revenues from Europe. That implies an expectation of $30-35m outside Europe, using his $50m number. That would be a worrying decline.
With $50m in revenues and a $60m cost structure, you get a big fat loss for 2012.
He just seems to say whatever he wishes where numbers are involved. They are tied to nothing.
I'm afraid you cannot take his forward-looking statements seriously. The usual problem. Someone needs to give him a shake. Get real. Wake up. Stop selling bullshit. Start being consistent.
Observation: They just purchased a company, so the revenue has increased to around $11m/quarter. Multiplied by four that is $44m. Growth rate to reach $50m is 12-13%. This is meant to impress against a cost structure which has doubled - or thereabouts?
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