Michael Pachter Quotes
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The lack of specific guidance reflects that these guys weren't really prepared for a downturn and they are not really sure how bad it is, how long it will last, or whether it will persist beyond the first couple quarters of '06.
- Michael Pachter
Although Midway continues [to] generate large losses, we continue to believe that Midway is a potential turnaround story. The company's cost structure suggests that it can achieve profitability at revenue levels of $300 million annually, and we remain confident that Midway will be able to generate revenues at the $300 - 800 million level over the next several years. However, to achieve this level of revenues, the company must continue to expend resources on growing its development capability.
- Michael Pachter
We believe that January sales may have been even worse had Microsoft continued its marketing push, and believe that sell through was helped in part by deep discounting of new releases during the month. January marked the fifth consecutive month of software sales decline, and we expect a return to double-digit sales declines in February, with an accelerating rate of decline in March.
- Michael Pachter