Tom, Take a Financal Accounting course before you do any more pontificating on Pentax's announcements. Any inventory evaluation write down was known long before Hoya took over the company. It's a non-cash, book entry with no impact on the future operations of the company. Same impact on first half profit, a non-cash impact. The profits were already lost a while ago. The company knew this and chose to report these results at this time. Regards, Bob S.
On 10/29/07, Tom C <[EMAIL PROTECTED]> wrote: > I respectfully ask you to explain then how > > "Pentax Corp., said first-half profit fell 45 percent, missing its own > estimate, after writing down the value of its inventory." > > is good news, > > and how > > "Net income declined to 600 million yen ($5.3 million) in the six months > ended Sept. 30, lagging behind its July forecast of 1.4 billion yen." > > is good news, > > and how > > "We have depreciated our inventory, including endoscopes, as we had > difficulty competing with our rivals,'' mainly in North America"... > > is good news. > > I'm not making the news up and I'm not telling you how to intepret it. You > also read that sales are up by 15%. > > So it's clear you cherry pick what you wish to complain about and appear to > look at silver-linings as evidence of no chance of precipitation. > > Tom C. > > > >From: Paul Stenquist <[EMAIL PROTECTED]> > >Reply-To: Pentax-Discuss Mail List <[email protected]> > >To: Pentax-Discuss Mail List <[email protected]> > >Subject: Re: Pentax Inventory Writedown > >Date: Mon, 29 Oct 2007 21:15:55 -0400 > > > >He won't have to find out by himself. We know you'll be on top of any > >bad news, Tom. Good news, no. But if it's bad news for Pentax, you're > >all over it. Your record is consistent. This time you thought it was > >bad news, although it really wasn't. But you are quite good at > >finding the dark cloud in the silver lining. > >Paul > >On Oct 29, 2007, at 8:51 PM, Tom C wrote: > > > > > However Bob, if the sky is falling, I'll be sure and let you find > > > out all by > > > your little old self. > > > > > > Tom C. > > > > > >> From: "Bob Sullivan" <[EMAIL PROTECTED]> > > >> Reply-To: Pentax-Discuss Mail List <[email protected]> > > >> To: "Pentax-Discuss Mail List" <[email protected]> > > >> Subject: Re: Pentax Inventory Writedown > > >> Date: Mon, 29 Oct 2007 19:44:43 -0500 > > >> > > >> Tom, > > >> You are soooo predictable. You should sign all your posts... > > >> > > >> Chicken Little (The sky is falling, THE SKY IS FALLING!!) > > >> > > >> You should sell all your Pentax equipment before the market is gone. > > >> That would leave you free to purchase a GOOD system like Nikon or > > >> Canon. > > >> Come on, put your money where your mouth is! > > >> Then you can go whine on their lists. > > >> Regards, Bob S. > > >> > > >> On 10/29/07, Tom C <[EMAIL PROTECTED]> wrote: > > >>> Pentax wants to sell everything in their inventory before it > > >>> devalues. > > >> So > > >>> does every company. If Pentax is giving rebates you can bet they > > >>> want > > >> to > > >>> unload the cameras quickly. > > >>> > > >>> It's the product cycle, not necessarily Pentax. > > >>> > > >>> The lifetime of a digital camera in today's market, from release > > >>> to the > > >> time > > >>> it is surpassed, is Dust in the Wind. > > >>> > > >>> Tom C. > > >>> > > >>> > > >>>> From: "P. J. Alling" <[EMAIL PROTECTED]> > > >>>> Reply-To: Pentax-Discuss Mail List <[email protected]> > > >>>> To: Pentax-Discuss Mail List <[email protected]> > > >>>> Subject: Re: Pentax Inventory Writedown > > >>>> Date: Mon, 29 Oct 2007 19:21:48 -0500 > > >>>> > > >>>> K110d's seem to be MIA, not available anywhere, but then again a > > >>>> used > > >> Ds > > >>>> or Ds2 sells for less and is a better camera overall. > > >>>> > > >>>> Adam Maas wrote: > > >>>>> I doubt it, from everything I've seen, Pentax has been shipping > > >> K10D's > > >>>>> out to stores about as fast as they can get them in. > > >>>>> > > >>>>> K110D's on the other hand... > > >>>>> > > >>>>> -Adam > > >>>>> > > >>>>> > > >>>>> Tom C wrote: > > >>>>> > > >>>>>> I said alot more because the article said "Sales at the company, > > >> which > > >>>> also > > >>>>>> makes medical > > >>>>>> equipment rose 15 percent". > > >>>>>> > > >>>>>> I suspect alot of those sub-$700 K10D's are in the writedown. > > >>>>>> > > >>>>>> What is says to me is that while sales are up (good) and > > >>>>>> profit is > > >> up > > >>>>>> (good), due to the writedown, net income is down (bad). > > >>>>>> > > >>>>>> > > >>>>>> Tom C. > > >>>>>> > > >>>>>> > > >>>>>>> From: Adam Maas <[EMAIL PROTECTED]> > > >>>>>>> Reply-To: Pentax-Discuss Mail List <[email protected]> > > >>>>>>> To: Pentax-Discuss Mail List <[email protected]> > > >>>>>>> Subject: Re: Pentax Inventory Writedown > > >>>>>>> Date: Mon, 29 Oct 2007 16:51:00 -0400 > > >>>>>>> > > >>>>>>> Tom C wrote: > > >>>>>>> > > >>>>>>>> Paraphrased from a 10/29 Bloomberg article: > > >>>>>>>> > > >>>>>>>> Pentax Corp., said first-half profit fell 45 percent, > > >>>>>>>> missing its > > >> own > > >>>>>>>> estimate, after writing down the value of its inventory. > > >>>>>>>> > > >>>>>>>> Net income declined to 600 million yen ($5.3 million) in the > > >>>>>>>> six > > >>>> months > > >>>>>>>> ended Sept. 30, lagging behind its July forecast of 1.4 billion > > >> yen. > > >>>>>>>> > > >>>>>>> Sales > > >>>>>>> > > >>>>>>>> at the company, which also makes medical > > >>>>>>>> equipment rose 15 percent. > > >>>>>>>> > > >>>>>>>> "We have depreciated our inventory, including endoscopes, as we > > >> had > > >>>>>>>> difficulty competing with our rivals,'' mainly in North > > >>>>>>>> America, > > >> Jiro > > >>>>>>>> Okamura, a spokesman at the Tokyo-based company, said > > >>>>>>>> by telephone. The writedown led to a one-time loss of about 900 > > >>>> million > > >>>>>>>> > > >>>>>>> yen, > > >>>>>>> > > >>>>>>>> he said. > > >>>>>>>> > > >>>>>>>> The company's sales rose to 85.6 billion yen from 74.7 billion > > >> yen. > > >>>>>>>> Operating profit, or sales minus the cost of goods sold and > > >>>>>>>> > > >>>>>>> administrative > > >>>>>>> > > >>>>>>>> expenses, more than doubled to 3.3 billion yen from > > >>>>>>>> 1.56 billion yen. > > >>>>>>>> > > >>>>>>>> ------------------ > > >>>>>>>> > > >>>>>>>> Maybe those bargain basement camera prices in N.A. aren't that > > >> great > > >>>>>>>> > > >>>>>>> after > > >>>>>>> > > >>>>>>>> all. Selling a lot more things that aren't worth as much. > > >>>>>>>> > > >>>>>>>> Tom C. > > >>>>>>>> > > >>>>>>>> > > >>>>>>>> > > >>>>>>>> > > >>>>>>> That could explain the recent flood of Pentax refurbs that I've > > >> seen > > >>>> here > > >>>>>>> in Canada. They're going cheap too. Lots of low-end MZ's, FA-J > > >> lenses, > > >>>> and > > >>>>>>> a few DS's and DL's. > > >>>>>>> > > >>>>>>> If you write down inventory, you aren't talking about 'Selling a > > >> lot > > >>>> more > > >>>>>>> things that aren't worth as much.', you're talking about excess > > >> stock. > > >>>>>>> > > >>>>>>> It sounds like Pentax wrote down a fair bit of older stuff they > > >> were > > >>>>>>> sitting on (like the aforementioned cheap film kit) which > > >>>>>>> impacted > > >>>> their > > >>>>>>> net income. Otherwise the numbers look good, especially the > > >> operating > > >>>>>>> profit increase. > > >>>>>>> > > >>>>>>> -Adam > > >>>>>>> > > >>>>>>> > > >>>>>>> -- > > >>>>>>> PDML Pentax-Discuss Mail List > > >>>>>>> [email protected] > > >>>>>>> http://pdml.net/mailman/listinfo/pdml_pdml.net > > >>>>>>> to UNSUBSCRIBE from the PDML, please visit the link directly > > >>>>>>> above > > >> and > > >>>>>>> follow the directions. > > >>>>>>> > > >>>>>> > > >>>>>> > > >>>>> > > >>>>> > > >>>>> > > >>>> > > >>>> > > >>>> -- > > >>>> The difference between individual intelligence and group > > >>>> intelligence > > >> is > > >>>> the difference between Harvard University and the Harvard > > >>>> University > > >>>> football team. > > >>>> > > >>>> -- P. J. O'Roark > > >>>> > > >>>> > > >>>> -- > > >>>> PDML Pentax-Discuss Mail List > > >>>> [email protected] > > >>>> http://pdml.net/mailman/listinfo/pdml_pdml.net > > >>>> to UNSUBSCRIBE from the PDML, please visit the link directly > > >>>> above and > > >>>> follow the directions. > > >>> > > >>> > > >>> > > >>> -- > > >>> PDML Pentax-Discuss Mail List > > >>> [email protected] > > >>> http://pdml.net/mailman/listinfo/pdml_pdml.net > > >>> to UNSUBSCRIBE from the PDML, please visit the link directly > > >>> above and > > >> follow the directions. > > >>> > > >> > > >> -- > > >> PDML Pentax-Discuss Mail List > > >> [email protected] > > >> http://pdml.net/mailman/listinfo/pdml_pdml.net > > >> to UNSUBSCRIBE from the PDML, please visit the link directly above > > >> and > > >> follow the directions. > > > > > > > > > > > > -- > > > PDML Pentax-Discuss Mail List > > > [email protected] > > > http://pdml.net/mailman/listinfo/pdml_pdml.net > > > to UNSUBSCRIBE from the PDML, please visit the link directly above > > > and follow the directions. > > > > > >-- > >PDML Pentax-Discuss Mail List > >[email protected] > >http://pdml.net/mailman/listinfo/pdml_pdml.net > >to UNSUBSCRIBE from the PDML, please visit the link directly above and > >follow the directions. > > > > -- > PDML Pentax-Discuss Mail List > [email protected] > http://pdml.net/mailman/listinfo/pdml_pdml.net > to UNSUBSCRIBE from the PDML, please visit the link directly above and follow > the directions. > -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
