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Tuesday, March 16, 2010

CCME Filing out - Net Income $41m for 2009 !

There is a filing out this morning where CCME said they will have net income of approximately $41m for 2009. This is great as it shows approximately 100% net income growth for Q4 year over year! The filing says approximately $41m so we will have to wait until the 23rd for the exact number. Additionally they may not be required to give 1m shares to management for earnout but that could be offset by shares that Starr may receive if they come in just under $42m making it a neutral event to EPS. CCME had no analyst targets to hit or miss, so this is a great number and should result in great headlines on March 23rd when they release the full earnings report. My previous blog post underlines why this stock is very undervalued and why analyst coverage should be coming in my opinion. There was uncertainty to what kind of numbers this Company would actually put up and this is now removed. There was uncertainty to what 2010 would look like and that was removed last week when the CFO said 50% organic growth and 50% acquisition growth. This filing is just for technical reasons because the report was due on the 15th of March and they are releasing it on the 23rd.

See Filing

Read previous Blog Post


newMilan said...

Do u think current falling relates to the MM or the accounting issue?

Superman said...

there is no accounting issue that i know of....Lionmaster was just trying to scare people and it may have been an illegal comment. The stock is only down .20 consolidating the move yesterday

newMilan said...

Thanks for your reply. I dont really care about whos Lionmaster, efficient market will tell us the truth anyway.
Do you think 11.65 is really a consolidating point? I bought some today. By the way, do you think the institution already involved?

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