OPTO reported Q1 (4/30/07) reslts yesterday.
Stock fell $.17 to $1.15 per share.

Not what we would have liked. Revenues fell 9% from $6.9 million to $6.3 million. They lost $1.17 million compared to a loss of $54,000 last year. No good reasons for the miss, other than sales were bad essentially and they are working on it. They continue to waste cash buying back shares (like there is too much float–although the bad news did flush out 368,000 shares, more than 10X normal volume).

The bottom line is that our valuation has fallen from $2.89 to $2.28. Cash per share is now $.44 compared to $.47.

This is a HOLD for now. Still trading at about 50% of our valuation and cash is now 38% of the market cap.