My Personal Finance Journey

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OCA Disappoints

Contributed by mm | March 10, 2004 1:46 PM PST

OCA disappoints its shareholders today, not by releasing a bad earning release, but by not releasing an earning release. ARound 2:30pm EST, the company announced that it will postpone the earning release to March 15 and the conference call to March 16 to give more time to its independent auditors to finish their work. As recently as this morning, the company still confirms and date and time for the earning release and conference call. It is no wonder investors punished it by a 7.3% decline.

I received the news alert in the first minute and the idea of selling only occupied my mind by a moment. If I had sold, I would be better off $750 by now (the major decline happened around 3.15pm PST). This is the price of indecision.

I'm gradually losing confidence of the company. Although my OCA position is still $1,354 in the black, I dislike a surprise like this. Also, a scheduled release date so late in the earning season is another warning sign that financials are not well in control in this company. I am holding my breath for the Monday earning release now, and if key metrics (revenue, earnings, account receivable) are not encouraging, I will not be hesitate to part with my 1,500 shares.

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