Promethean Share Discussion Threads

[sunseeking] 12/1/2011 10:08

Gopher
Agree with all except last sentance, but wtfdik!
ss

[gopher] 12/1/2011 09:41

Class actions are where they are ahead of us in terms of investor protection, the Natwest rights issue in 2008 was never challenged in the courts, Fred Goodwin would have risked jail in the US.

APAX dumped this on investors at the top, the learning experience is around buying from private equity rather than anything specific to PRW. In 2011 I think we shall get close to arriving at a true value for this business which is somwehere between 40p and 100p. Not a bad statement IMO.

[sunseeking] 12/1/2011 09:06

Masguy
Sorry
I think its APAX
ss

[sunseeking] 12/1/2011 08:50

Masguy
PAX are an investment group (non quoted I think) who had a large investmet of about 30% I believe in both Promethean & Smart Tech prior to the IPOs
Try googling them
ss

[sunseeking] 12/1/2011 08:43

This share amazes me, When they give poor trading statmements the stock starts climbing yet in the past GOOD! trading statements have resulted in prolonged
decline.
I am a small holder of shares in this company who feels manipulated!
ss

Good luck to all with this one
ss

[masurenguy] 12/1/2011 08:36

Who are PAX ?

[sunseeking] 12/1/2011 08:14

masguy

"The class action complaint contains allegations that SMART Technologies, certain company insiders and the IPO underwriters violated the Securities Act of 1933 by failing to disclose in the IPO registration statement and prospectus that company sales had been adversely impacted by integration and internal control issues, and failed to reveal a slowdown during the second quarter of fiscal year 2011. Company insiders sold over $500 million worth of stock in the IPO."

Interesting
PAX disposed of a large holding in both Promethean and Smart at the IPO,s.
Could a similar "class action" take place in UK?
ss

[slapdash] 12/1/2011 07:31

measurenguy - I agree... they have chucked in a sweatner that 2010 revs a bit higher than expected.. but going forward outlook is rubbish.. challenging for forseeable future...

[masurenguy] 12/1/2011 07:17

Veiled profit warning without quantification !

2010 Trading Update

On 3 December, 2010, Promethean, a world leader in the global market for interactive learning technology, reported that while customer interest and the long-term drivers of demand for its technologies remained strong, current market conditions were difficult due to budgetary uncertainties and constraints, particularly in the United States, and also in Europe. Promethean stated it would give a further update early in the New Year.

As expected, market conditions during the Q4 were challenging, and consequently Q4 revenues were lower than in the same period in 2009. However, the Group expects revenues for the full financial year to 31 December 2010, to be towards the top end of current market expectations.

Promethean intends operating on the basis that market conditions will continue to be challenging for the foreseeable future, particularly in the United States. Promethean is therefore aligning its cost base to these market conditions, and the Board now expects to increase the exceptional charge related to restructuring to be taken in the fourth quarter of 2010.

Promethean continues to invest in the business and is launching important new products at this week's major BETT international educational trade fair in London, which it believes will further strengthen its technology leadership and positioning in the educational marketplace. In particular, Promethean is launching its next generation 500 series interactive whiteboard, which provides true multi-touch and multi-pen functionality, as well as a range of new software and accessories.

Promethean will announce preliminary results for the year ended 31 December 2010, on 1 March 2011.

[masurenguy] 06/1/2011 08:17

SMT closed down at an ATL of $9.18 yesterday.

[she-ra] 05/1/2011 20:31

It cant get ramped forever.

The reality of austerity will soon become all too clear.I was warning before the last profits warning and was dismissed robustly by people on here.

The reality is profit warnings come in 3's;well usually.But with global spending cuts for discretionary purchases - you bet!

[gopher] 05/1/2011 17:44

Good research Masurenguy

Back in at 67p. Directors have transferred shares to their children and house broker reckons 3p divi and 7p earnings for 2011. I am sure they will have advised that the new earnings figure must be on the cautious side.

[masurenguy] 05/1/2011 09:51

Their main competitor Smart Technologies is also down 55% from their IPO last summer and are being heavily shorted in the US.

While the education market has some investors thinking Smart Technologies' will learn to grow its whiteboard business in the space, cash-strapped state governments have others thinking it's right that the stock is trading at almost half its IPO price. CAPS investor sdwcheney recently noted that IT spending in education is not a top priority:

Smart Technologies will be going down as long as the states are cutting education budgets. Most schools are using all of their money for teachers and building upkeep, and are lucky to get budget for that. Even if it were receiving the attention it deserves, education IT spending doesn't appear to be a hot growth market anyway. The industry researchers at Gartner estimate that worldwide spending on hardware and software in educational IT market will grow from $16.5 billion in 2009 to $18.6 billion in 2012. That's just a 12% increase over three years, which is hardly a scorcher.



They are also facing two class action lawsuits claiming that investors were misled at the IPO:
"The class action complaint contains allegations that SMART Technologies, certain company insiders and the IPO underwriters violated the Securities Act of 1933 by failing to disclose in the IPO registration statement and prospectus that company sales had been adversely impacted by integration and internal control issues, and failed to reveal a slowdown during the second quarter of fiscal year 2011. Company insiders sold over $500 million worth of stock in the IPO."



Leaving aside the lawuits it appears that SMT are suffering from similar market issues as PRW !

[masurenguy] 05/1/2011 08:54

Anyone know if their Whiteboards have any unique patented features or could they fairly easily be copied by Asian manufacturers ?

[madfool2002] 04/1/2011 11:27

tipped in the Guardian today.



Promethean World, a maker of hi-tech whiteboards for classrooms, has tested the City's patience in 2010. Its shares have slumped to 65.75p since floating at £2 in March, partly due to a shock fall in sales in November. But 2011 could see the company shed its dunce's cap. Although education budgets are suffering in the global age of austerity, Promethean hopes many schools have just postponed their spending rather than permanently lost faith in new technology. If that's true, and the company also wins back some credibility, then Goldman Sach's target of 83p looks achievable. But widows and orphans should still beware.

[ny boy] 04/1/2011 08:40

I don't think this is a stock for dithering on a purchase, institutionals bought in at the lows, good enough for me, I have followed them, already up and doing nicely.

Plenty of upside in 2011

[smith99] 31/12/2010 10:04

this is such an unusual company for me, the fundamental part of me wants to buy into it but the T.A. part of me is stopping me. I just dont know why the market doesnt like this company. I guess I shall have to sit on the fence a little longer and wait for the volume to pick up . GL2ALL and Happy New Year

[she-ra] 27/12/2010 14:56

Im guessing this will be an awful year for Promethean.I cant see where any positive news will come from.

[offler] 25/12/2010 01:57

Don't see a 90p recommendation on that page.

[ny boy] 24/12/2010 00:04

Ask Knowing for clarification, I believe he speaks French?

[galles] 23/12/2010 13:54

I used google translate and this is what the article says:

The manufacturer of digital equipment for the school offers a white paper entitled "The digital school, an issue of territory" for the French municipalities planning to implement digital technology in schools.

Promethean what appears as a "methodological guide"was developed in partnership with the Network of Innovative Territories, the FDMA (Rural Association of Mayors of France), and Intel Iconito. To help achieve the common development of a program project "Digital School"to a territory, this paper proposes sheets on facilities, equipment, services, digital content and the ENT, uses and local life, not to mention funding, to provide stakeholders with all the elements to make the right decisions.

The White Paper "The digital school, an issue of territory" was given to participants of the forum of Interconnected 2010, which was held on 13 and 14 December last year.


No mention of 90p anywhere.

[ny boy] 23/12/2010 13:11

Galles> It's 90p as knowing says.

Still I would say chart technicals suggest a rally is building to 105/110p area in Q1 2011, recent fund buying at the lows suggests strong institutional interest in these, wouldn't be surprised to see a bid coming in during 2011 on improving global recovery in equities, these seem very good value here.

[galles] 23/12/2010 11:59

Knowing, shame I can't read French :)

[knowing] 22/12/2010 22:29

Undervalued Broker reckons 90p

[offler] 22/12/2010 16:46

Surely that would be insider dealing?