GIGA - Earnings Coming

Discussion in 'Stocks' started by Apex Capital, Oct 24, 2005.

  1. Hey Longhorns . . .

    It was a horrible quarter where their bookings dropped 66% because ( as they say ) the DoD spending dried-up and was only being spent on bullets and armor in Q3, which is seasonally a weak period for defense.

    They are a test and measurement company that sells Microwave Synthesizers and competes with Agilent, Tektronix, and Rohde & Schwarz GmbH which is privately held. In any event, the conference call was even worse!

    I have been in and out of GIGA ever since a few years ago when the stock was trading at $1.60 and on some days didn't even open for trading. The CEO is 87 years old and is classic old school . . . Very conservative and they have no debt. Only a matter of time before he leaves and the company is sold.

    My last sales were at $8.23 back in late July, but it was a big daytrading spike and I was unable to get out of my remaining 5,000 shares. I should have just sold at the market, but I missed on a couple of limits up above. The stock fell into the 5's the next day. GIGA only has a 3.8 million share float so it can really rock on the way up, and rock on the way down.
    Oh well, it was a $25,000 opportunity cost.

    I will most likely add somewhere down around here.
    They did say on the CC that bookings had come back in the current quarter and it was business as usual for their sales reps out in the field.
     
    #11     Oct 28, 2005