Focus Enhancements inc. Just took a big hit a couple days ago on a Revenue reduction statement.
LONDON (MarketWatch) -- Focus Enhancements Inc. (FCSE : FOCUS Enhancements Inc News , chart , profile , more Last: 1.09+0.02+1.87%
Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: FCSE1.09, +0.02, +1.9%) on Tuesday cut its revenue guidance for 2007 after delaying production and shipment of its new wireless technology. The group said it expects total revenue to be in the range of $38 million to $40 million in 2007, down from its previous guidance of $42 million to $44 million. Revenue from the new wireless chips will now begin late in the fourth quarter, instead of in the third quarter as previously anticipated, it said. Focus added the delay was needed "to ensure the desired level of quality."
It was way oversold and I anticipate it to climb back to the 1.40 range quick. I have started to watch the big losers and track what causes them to tank overnight. FCSE is on the Nasdaq, and has the market cap to remain there. This hit is nothing more than everyone dumping on some bad news. The revenue forcast was 3-4 million less. They are a $38-$40 million dollar business. Instead of a $42-44 million.
But no one will know until the revenue comes in during the 4th quarter... They also have their line of Ultra Wideband chips which is better quality going out in the fourth quarter. This is what was delaying their revenue expectations for this period. They have a show they are going to http://www.infocomm.org/cps/rde/xchg/infocomm/hs.xsl/avindustry_4333.htm Which is this week.