SYNC announced Q1 2014 earnings after the close on May 13. Revenues were $25.2 million down from $29.1 million last year. Net loss was $.07 per share compared to break even last year. Adjusted EBITDA was a loss of $.7 million compared to positive adjusted EBITDA of $1.8 million last year. Not a great quarter.
Our valuation fell to $5.44 from $5.94 last quarter. Cash was $1.17 per share, more than 50% of the current market cap.
SYNC is trading at about 42% of our valuation. We will HOLD for now and see how the next couple of quarters look. Any signs of a turnaround and we think this stock will soar. A buy out is always a possibility.
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