Cheap Stocks, 8/9/2013 LATE update

Well MRVC announced earnings late this afternoon. Below is the update on them.

MRV Communications (Pink Sheets-MRVC.pk)
Valuation $27.15 (Was $31.80, $34.60, $28.60, $41.20, $43.20 (after $9.50, $6.00 and $1.40 special dividends), $52.40, $55.80)
Buy Price October 7, 2011- $8.50 ($25.40 before special dividends)
Closed at $9.95 down $.55
Earnings announced on 8/9/2013.
Revenues were up slightly to $38.2 million and their loss declined to $1 million from $2.1 million last year. Net cash per share was $4.40 and our valuation rose a bit to $24.01 a share. They say they are continuing to invest in the business and that these should become apparent in 2014. Patience.
Lloyd Miller disclosed a 6.9% stake in February.
Raging Capital bought another 1.6 million shares in the first week of December 2012 at $10.80 bringing their holdings to 20.1% of the company.
Still trading at less than ½ our valuation.
UP 16%  HOLD

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