Spy

As usual, SPY had the courtesy to file its 10Q with the SEC about the same time they did their conference call, making my job easier and my analysis more timely. You can see the 10Q here. Sales for the quarter ended March 31 rose 2% from $9 to $9.2 million compared to the same quarter […]

When I review SPY’s results, we get to see what a smaller specialty brand is doing. They would prefer, I imagine, that they weren’t public and that we didn’t get to look over their shoulder. But for the time being anyway, we do. I suppose I need to confess that they are doing most of the things

To sum it all up, the good news is that sales for the quarter ended September 30.2013 rose 2.7% compared to the same quarter last year from $9.89 to $10.15 million and the net loss declined from $1.78 million to $302,000. The bad news continues to be the balance sheet, where the long term debt to

There are two things that really struck me in reading Spy’s June 30 10Q (which you can read here). You may not have seen them because, unlike you, I delight in reading small print and conference call transcripts. Perhaps “delight” is too strong a word.  Anyway, the first thing I saw was that they had no (as

This is a little weird for me, but I’m not going to start with the numbers. Rather, I want to start with some of CEO Michael Marckx’s comments in the conference call.  I may not have these quotes exactly right because I can’t type as fast as he talks. He said things like:   ·         “Super service

It’s been years since we’ve had an annual or quarterly report from SPY so focused on growing the brand and with so little mention of managing past problems. Remember, though, that all I know and write about is what I hear in the conference call or read in the public documents. Speaking of which, here’s the link

About a hundred years ago, around 1998, I spent a year as one in a long line of people who believed in the Sims brand enough to try and get it some traction (Some of you who are reading this are smiling; some are laughing. At me or with me- who knows).  Sims benefitted from having

Spy announced on August 27 that they were reducing their North American and European employment by 20 positions, going to a distribution model in Europe (they had been direct previously), and spending less on marketing. They think these changes will cost them  $1.2 million in the quarter ($1.0 million in cash) during their 3rd quarter, but

In the conference call discussion of their results Michael Marckx, Spy’s President and CEO, emphasized two things. The first was the total focus on the Spy brand. The second was that they had a solid and complete management team that was in agreement on the company’s strategy and direction. Those are good things. In spite of the sales

Spy filed an 8K on July 2 that announced they had increased the amount of the note due to Costa Brava from $6 million to $7 million, and that the full amount of $7 million was already outstanding. They also said they expected to raise some form of equity by August 31. As you may recall, Costa