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CDR - Commander Communications

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Cool ... that's a good piece of information hearing from the work force
and the customers.

I think CDR has a good set of assets, management need to manage it a little better and start paying down debt instead of going on acquiring other company when they don't have cash reserve to pay for it and fund it by debt.

I hope Volante teaches them a lesson and start redeem their sins :D
 
SevenFX said:
You should be in PROFIT given you bought at 48c odd ROE, and think the trading holt outcome will be good news...but just a guess.

SevenFX
Click to expand...

I actually Average down :) bought in at 69 then again at 48 :) I was set to go again at 35 or something but it never go down that far

break even at this stage :D
 
Well I also spoke to a commander employee (and former share trader) who said to me he isn't buying just yet.. believes a lot of things are improving internally but there were some majorly dumb things going on and the synergies from Volante are only now just starting to happen.

The thing I am still concerned about is the massive amount of intangible assets they have listed at over $300 million, and goodwill is not listed separately. I worry about them perhaps doing an iinet and a 'big bath' type accounting writedown.. for that reason I wait a bit longer.

Commander ain't coke a cola.. what can they possibly have thats worth over $300mil? Any ideas?
 
Don't know it maybe just their name and market position as their intangible asset..they have a nice small to medium market that other players doesnt.

Intangible I really don't take those in account as when it come push to shove it worth nothing. I work on what they can salvage if CDR was to go belly up..someone may pay them maybe 40 cents a share and take the business.
make a calculated risk to buy at XX price and worse case scenario XX-40 will be my lost but upside could be unlimited. :D
 
Interesting :) .. but there is no formal announcement yet ...maybe they announce it just before trading resume ...

maybe the worse is yet to come for this baby, may have to cop on the chin and take a lost at some stage :D
 
Its debt to equity does look bad, but it has been on a acquisitive trail of late, much like ABS.

It would be a waste to fire sale the assets independently, now that they are starting to build some synergies between their separate business units. To extract optimum value, an equity partner scenario would be ideal.

What a mess. It goes to show that management is the most important aspect of any company. Bad management will find a way to squander good assets.
 
It is more than a bit disconcerting to me that CDR's website is not working. I think that we are in for real bad news on this one next week. For all those holders (not me), I genuinely hope that I am wrong.
 
Yeah, still in suspend. What are the chances that the next announcement will be a takeover? We already know the company is in trouble, so no need for the "suspense" if that was all there was to it... wishful thinking.
 
I wouldn't be at all surprised if a take-over announcement is made, as I cannot see them taking this long to produce full financial year reports... Hopefully that is the reason for the delay in getting out of the trading halt...
 
better be a reasonable offer rather than the cheap and nasty offer Westpac made to RAMS

I'm hoping for 70 cents to a dollar :D
 
CDR can't be too bad off, they just paid an outstanding invoice of multiple 10's of thousands they have owed our company ..... and on time :)
 
Thursday, 27 September 2007
By Jason Baker of IBISWorld

Australia’s $3.35 billion telco reselling market has had moderate growth for the past five years and is set to grow 2.6% a year on average over the next five years to 2012-13, thanks to growth in mobile virtual network operators.
Key statistics 2006

Key statistics 2006

Industry revenue $3.35b
Revenue growth (2005 to 2006) 0.70%
Number of enterprises 128
Employment 6,478

Main players’ market share 2006

Commander Communications 22–23%
SingTel Optus 17.20%
TCNZ Australia Investments (AAPT) 12–13%
SP Telemedia (Soul) 10–11%

Optus seen as bidder
http://www.smh.com.au/news/xchange/...fter-alcan-loss/2007/10/09/1191695909145.html
 
Annual report just release, resume trading soon :)? and no bidder or more information going to start to come out in the next few days :)
 
I was actually speaking to one of their sales rep yesterday & had indicated that the financial results were completed... She did indicate that its business as usual & no take-over happening, however they are still looking at offloading iBurst (or is it Unwired, anyway mix the two up) as it has been unprofitable, but no buyers (have had it on the market for the last year)... She did say she would expect stocks to open a little lower, however heading up north again in the longer term...
 
Has anyone digested the annual report yet.....what a disgrace.....I can't believe they used shareholder funds to do a big spin job in the opening pages about the brilliant year that was for Commander........I particularly liked the touch on the pages attached to the report where they talk about renegotiated banking facilities, how they are desperately putting the thing up for sale with a 'data room' and then next para.........how they are well porsitioned to 'improve profit growth'.........I got caught out on this puppy, but thankfully I knew enough not to insert serious capital...........On the plus side, the banks do appear to have given them some flexibility to 'recapitalise' but the best move is probably sale at this stage........I'm still getting my head around the spin in the report which hails the Volante acquisition as a worldbeater
 
CDR last traded on 28-Sep-2007 with closing price 0.5950
-- what will the SP open at tomorrow?

Out of control!!!!

18/10/2007 Annual Report to shareholders
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00771201

Extract from annual accounts of problems

Chairman's report page 5
In my fifth year as Chairman of Commander, the company faced a number of new operational challenges that made it a difficult year for shareholders and staff.

MD's report Page 7
However, our FY07 results do reflect unforeseen difficulties related to the major structural changes necessary to position the business for the future.

Problems with our transaction processing system meant a significant number of ICT hardware orders could not be processed, shipped or invoiced before the end of FY07. Further, a significant amount of orders were not pursued in order to avoid disappointing customers. This was a one-off problem and we have identified and are rectifying the system issues and have put in place appropriate back-up procedures. Actions are being taken to accommodate similar surges in business in FY08.

A slower than expected rollout of Commander Centre franchises also impacted our results. Our franchise strategy is critical to the growth of our business and we remain deeply committed to this initiative. Based on the performance of existing franchises, Commander expects to realise increased revenue and profits from this initiative in the coming financial year and beyond.

The FY07 financial results were disappointing in a number of areas, but we are now in a stronger position to improve our performance in the future. Our system issues have been resolved, our franchise network is largely up and running and we have exciting new solutions to offer our wide-ranging customer base.
 

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