tag:blogger.com,1999:blog-7294165939647321702.post7342641326345356431..comments2024-03-28T13:45:43.362-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: LoJack Stock Flat...Or Is It?Saj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7294165939647321702.post-25640168098450003252009-12-21T02:43:55.082-05:002009-12-21T02:43:55.082-05:00I hope lojack fails soon only saying this is becau...I hope lojack fails soon only saying this is because of the technology they use. RF signals are a thing of the past Why follow a signal to a location and not pinpoint it like a GPS. I was once an employee But let go the first quarter of 2009 and having to tell customers their unit is the best on the market was a lie and i felt bad after i left knowing they have a low recovery percentage rate thieves have caught on to the locations of the units installed. Lojack announces to investors they recovered a Stolen asset is like a cat bringing a mouse home for a reward just to get a another meal.Its not right to the consumers to fab such a lieAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-36751454560328575412009-06-03T02:29:50.295-04:002009-06-03T02:29:50.295-04:00Hi Anon1,
The $270 million figure is likely a bit...Hi Anon1,<br /><br />The $270 million figure is likely a bit high, but you do have to allow for some probability of some subtraction from their cash reserves. Nobody really knows what will happen though, so that is a bit of a risk!Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-34761143738926272112009-06-02T12:59:53.171-04:002009-06-02T12:59:53.171-04:00Per the comment from PlanMaestro - LoJack is selli...Per the comment from PlanMaestro - LoJack is selling for a vastly cheaper multiple of 5 year average earnings than is ITRN. If business ever does come back, LoJack will appreciate much more than ITRN.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-33736188174146391202009-06-02T12:56:29.960-04:002009-06-02T12:56:29.960-04:00How are you valuing the potential $270 million law...How are you valuing the potential $270 million lawsuit liability with their Chinese subsidiary?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-3133283443543240372009-05-07T01:18:00.000-04:002009-05-07T01:18:00.000-04:00Hi Plan,
Thanks for the kind words regarding the ...Hi Plan,<br /><br />Thanks for the kind words regarding the blog.<br /><br />Regarding LoJack, while I agree they do not have subscribers and so their revenues are not as stable, their sales are closely tied to those of auto sales. While a recovery may not be in sight, LOJN has the ability to stick around until it is, which is the main point. I agree this may not be soon, but all we're looking to do is buy cheap for the long term, not looking for quick trading profits.<br /><br />Regarding the channel stuffing issue, I'll take a closer look and get back to you.<br /><br />Thanks!Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-8362756357508165282009-05-06T01:38:00.000-04:002009-05-06T01:38:00.000-04:00Barel, first of all great blog and have been follo...Barel, first of all great blog and have been following your comments on LOJN for a while.<br /><br />While I agree that LOJN looks cheap and has been in the short list for a while, there are a couple of things that jumped on me while reviewing the latest results<br /><br />- Revenue model: lacks a stabilizing recurrent source. Compare it with the ITRN subscriber based model where they do not have to start from scratch every quarter. <br /><br />- International sales: dropped 63% (!). This category has been the only one growing previous quarters. Part of it is the dollar appreciation but also unit sales have fallen of a cliff.<br /><br />- Revenue recognition: In some categories (ie: international) they recognize sales while shipping. It is highly probable that they have been channel stuffing.<br /><br />This company is not going to recover soon.PlanMaestronoreply@blogger.com