INFT released earnings last night. Noting to write home about at all. Sales up 4% YOY, operating “income” swung to a loss of $224,000. It looks like they are doing SOMETHING, although exactly what is the question. They wrote-off some old, bad investment and the related tax effects which caused an overall loss of $4.6 million in the quarter ($.40 per share). Also made the CFO the new President and CEO, although they don’t seem to say what is happening with the current CEO. So either they are preparing for a sale of the company (cleaning up the balance sheet and putting the finance guy in charge) or this is just a new way to get the current management higher pay and some cheap stock options. Valuation has dropped again. Now $6.13. Now a HOLD. Only good news is that they have $2.64 a share in cash–70% of the current market value. Still expect this to be sold, but $5.50 is looking more like $5 to me.