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VTSS Investor Forum

What's the scoop with this late earnings date?

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So what's the scoop with such a late earnings date...unless I missed an announcement Dec is on the cusp for meeting earnings results.
Two options for such a late call...either the numbers are weak and they're hoping for a miracle ... Or there's an acquisition in the works and they're delaying to get this accomplished.
Companies always announce earlier than usual with good news....or drag their feet if it's not good.
It's anyone's guess but I think there's something bigger in the works.
Any thoughts or comments?

Posted by Pac5705 - 8 years ago

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I would estimate Tuesday, December 9th (it's usually on the 2nd Tuesday -- right?), but there has been no official announcement. It might be that everyone is preoccupied with the debt-payment at the end of this month (?) It's hard to know. The last word we heard was that the legacy products will be imploding and the new products will hit a temporary bump in the road. It's fairly easy to do the math. Likely Q4'14 will NOT have been a good quarter.

I would be very surprised if a sale was announced. VTSS would be sold at a steep discount, and a sale would speak directly to just how much BS the forward-looking ("design-win") promises amounted to. A sale today would be a desperation move.

I think VTSS would get taken private first, although I don't think either option is a significant possibility at this time.

This is the same company who did not speak to shareholders for years... why should the present be any different?

Posted by phobos - 8 years ago

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A December reporting date is standard not only for VTSS but for most companies. VTSS is on a September fiscal year. That means the year ended on Sept 30. At the end of the year the public outside auditors have to come in and look at the books and issue their "opinion." That all takes time. VTSS is a little slower than most working through the whole process but they get there. Anyway that is the reason for the later earnings release date. I wouldn't read anything into it at all. SEC requirements are to have annual numbers filed with the SEC by December 15.

It is very easy to get confused and forget what fiscal quarter it is when a company is not on a "calendar" year. The quarter ending December 31 is actually the first fiscal quarter for VTSS. The quarter ending Sept 30 is the 4Q and year end.

Posted by dlog - 8 years ago | Updated 8 years ago

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While VTSS is on a fiscal September year many of the other semis are not. BRCM just reported earnings. Stock is up 6%+. Over the past 12 months BRCM is up 50%, VTSS is down 3%.

In years past I used to post here the sales and earnings comparisons of VTSS peers. Then I realized VTSS has no peers. It is in a class all by itself.

Posted by dlog - 8 years ago

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AMCC missed earnings on both the top & bottom lines. Off 17 % on the report.

Not a good sign for our favorite stock VTSS.

Posted by Techinvestor - 8 years ago

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AMCC is not as good a comparison anymore since they decided to pursue the npu market. They probably compete more directly with Cavium now (a bad move for AMCC). I think I agree with dlog's post on the other thread: how they resolve the debt will tell investors a lot about the current state of the company. If the pay it off without a blink, it's a good sign. I they pay a part, not so much. How much cash do they want to keep around just in case. We should hear something soon.

Posted by phobos - 8 years ago

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Tech -- the problem with this space is the average AnalCyst knows nothing about what these corps do - -add in Zack's and you are ripe for over and undervaluation - - -AMCC's server on a chip using the ARM architecture was boasted by their CEO as a $300MM per year revenue dream - - a wet dream bought by traders and investors - -and VTSS actually hoped they would sell plenty because IP revenue would flow to us for our error correction in silicon - - Now HPQ is showing a server on a chip - - when asked why VTSS is not competing in that space - -CRG aptly answered that he would not put VTSS on a collision course with INTC and AMD among other giants.

when the dust settles on this next round of net upgrades -- you will see VTSS in the winner's circle. i expect $72MM per qtr without IoT or Storage revenues - -add those in and then we can really be "discovered". and i am glad we have a low key CEO who does not make boasts of wild numbers that don't ring true.

today VTSS closed on the high at the $3.35 last offer price for raging billy - - $3.51 is the tipping price on the Gann Square of 9 calculations done in my Android app. we are coming off a double bottom with a failed break of $2.76 to a second lower low of $2.70 and then an accumulation run to $3.35. this all off the historic low --so a double bottom off the historic low says we are on our way UP. i know that sounds strange around here - -

the bonds are due on the east coast right now. we should here today , Oct 30, 2014, and not a day later. the ticker is reacting to the probable pay down of debt. first resistance is $4.00 by sqare of 9 calcs. a perfect BOTB or buy off the bottom at the last low was a very low risk and high reward trade. we only slipped 6 cents lower to run stops and then rose off $2.70 on low volume. steady buying as not to scare the herd. news of the bond paydown, as our CFO said would happen at the last cc , and a decent 1Q'15 would be a great lift. be reminded that we will reduce the share count by 7.3MM shares with a pay down. and then debt will be $17.2MM due in 10/2016.

VTSS is in the new building by the way - -all this quarter too - -and the old building is vacant and for lease. they moved west to the corner and are saving about as much as they will lose in legacy revenues.

Posted by daWiley1 - 8 years ago

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daWiley1- Good analysis, both technical and fundamental. The $ 3.51 tipping price is where the all important 200 SMA is also, which may provide some resistance, albeit short-lived.

I really like the aspect of the share reduction of the bond paydown- this will benefit us for future earnings periods.

Posted by Techinvestor - 8 years ago

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Thanks always for your powerful insights daWiley!

"when asked why VTSS is not competing in that space - -CRG aptly answered that he would not put VTSS on a collision course with INTC and AMD among other giants."

Few of us give Crg his due credit for using meager resources wisely.

"when the dust settles on this next round of net upgrades -- you will see VTSS in the winner's circle."

Agree without reservation! Intellisec/veriTime will reign supreme!!

Posted by GARIF - 8 years ago

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...waiting...waiting...waiting...for news of the debt...

Posted by phobos - 8 years ago

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Expecting VTSS to do what it should do? On Halloween?? I am wondering how they can screw this up - I know how I would bet. So many times we have sat at a moment like this only to have the rug pulled from beneath us............ Breakout? We'll see...........

Posted by Satbob - 8 years ago

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...will we get a treat or another trick?

Posted by phobos - 8 years ago

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I did not look up the terms of the debt again but have read it in the past. If I recall correctly the terms specified the day and time the debt was to be repaid (and the location ie the bank I think) I can't remember if it was 12 noon or the end of the business day or what. But it is today. And if not paid (or granted an extension) today VTSS will be in default. So something will happen today. Don't know if we hear of it today or not.

Posted by dlog - 8 years ago

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Given VTSS... something WILL happen, but we won't hear about it for two weeks.

Posted by phobos - 8 years ago

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11:55 EDT, Oops!! Trick or Treat????? $3.57 > $3.41???

Get ready.............

Posted by Satbob - 8 years ago

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Watch CRG say "What money?". Oh, we spent it on trips to Vegas and attending seminars.

Posted by Techinvestor - 8 years ago

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Or they paid off the BH in additional shares to "Make whole". That sounds like VTSS. They throw shares around quite casually. An offering here, another there, Employee Compensation - i guess they are really valuable after all.

Posted by Satbob - 8 years ago

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I'll admit I am uncertain about this debt maturity. But here is an 8K filed with the SEC on October 29, 2009, that states the "New Notes will mature on October 30, 2014. . . " unless paid off early or converted.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6863254-906-25513&type=sect&TabIndex=2&companyid=1946&ppu=%252fdefault.aspx%253fcik%253d880446

that would mean they should have been paid off yesterday. While looking to find this I found all of the forebearance agreements VTSS went through the last time they did this. Ugly memories. In the years I have been following VTSS management has never, and I mean never, had a clean, straightforward, good financing deal.

This is not that hard. Wire the money and be done with it. If we hear nothing today or Monday I would have to believe management is screwing things up again. If that happens I will really loose any confidence in Raging Billy. Don't let this happen Billy!!!!

Posted by dlog - 8 years ago

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Unbelievable- wouldn't most good companies be proactive and have Marty (CFO) present options to management regarding the debt long before it is due and then announce a plan to the world. Why do they wait to the last minute?? It's like people who don't pay their bills until the day due.

They're probably scrambling around the office saying "wasn't there some debt due?".

Posted by Techinvestor - 8 years ago

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There is always the chance that VTSS paid off the debt and just didn't tell us, the stockholders, the owners of the company.

If management paid this thing off, which I have to believe it has, it will require the filing of an 8K (I think) with the SEC. I haven't seen one yet but it may take a couple of days to show on the web site.

Hard to imagine VTSS would let this go by without taking the chance to spotlight it to the stockholders. If I recall the savings in interest expense alone will be significant.

These guys really don't give a rip about the stock price or stockholders.

Posted by dlog - 8 years ago

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Remember dlog, vtss is the same company that did not talk to the shareholders for years. Why would they let a couple of days bother them?

Posted by phobos - 8 years ago

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"Unbelievable- wouldn't most good companies be proactive and have Marty (CFO) present options to management regarding the debt long before it is due and then announce a plan to the world."

A couple of months ago at the bush conference Marty assured US debt would be paid by due date. Enjoy weekend forum members, we're in good hands! if the boys decide to pay- say half only- it will be because they were able to re-negotiate on very favorable terms.

"These guys really don't give a rip about the stock price or stockholders."

Few years ago us bagholders were very concerned about the debt, fast forward to now and Voila! the boys of summer have performed the miracle we had hoped/wished for; they got the money with minimum hit to the shareholders.

The company has been positioned to take advantage of key market trends. The future has never been brighter...

"Remember dlog, vtss is the same company that did not talk to the shareholders for years."

When you have nothing positive to share SILENCE is often the WISER option.

Useless,

Posted by GARIF - 8 years ago

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GARIF -- would it be possible for an investor to think positively of a company's prospects, and yet resent how that same company treats investors like poor relations with information?

Posted by phobos - 8 years ago

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ABSOLUTELY my brother!
Just that many of us seem not to appreciate or recognize the Houdini act Crg and gang has had to pull off, to bring/remove this company from the morticians table.

We must let the past be so we can enjoy today's possibilities! hell, I even forgive Willie Lynch!!
Lets champion the new Vitesse!!!!!!!!!!

Peace

Posted by GARIF - 8 years ago

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Still nothing on the debt? very curious. I've been trolling the securities and exchange commission web site looking for any filings from VTSS and haven't seen anything. I am not sure how fast any filings are made accessible to the public but you would have to think relatively fast. If we don't see anything in the next day or 2 one would have to conclude something other than just paying off the debt is happening.
It is just hard to imagine how management could screw this up. So hopefully if something is going on it is good. Who knows.

This is so VTSS.

It looks like the requirements for filing an 8K is 4 business days after the event. So if they paid the debt on Thursday that would make Wednesday the last date to file. But why would you wait when you have known this was coming for the past what, 2 years?

Posted by dlog - 8 years ago | Updated 8 years ago

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They don't want to talk to the shareholders unless they absolutely have to: not even through an 8k.

Posted by phobos - 8 years ago

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