OCA delivered a disappointing earning release yesterdayoon. Revenue declined 17% and net income plummeted 37%. As a result the stock is penalized heavily today, losing almost 14% with 7x normal trading volume.
Today's conference call does not give investors more confidence. Facing the companies are several problems:
1) Cloud of litigation
2) Receivable and free cash flow
3) Declining revenue and lack of visibility into the future
Company did give Q4 earning guidance to be between $0.18 and $0.22, way below the consensus of $0.26.
I would like to spend more time to analyze its 10-Q once it is available. The conference call is not informative enough to understand the fundamentals and outlook of the company.