see
http://www.iceinspace.com.au/forum/s...8&postcount=22
Meade is a 100 million $ company. For the last two years they have made losses of $15 million (order of magnitude). Discovery Stores-who were a major channel for the ETX range getting out of telescopes has not helped revenues -which have remained static -while selling general and admin expenses have grown by roughly 50 % compared to 2005
Meade's strategy now is to move manufacturing overseas-Mexico and China.
They hope the appointment of a buying agent in Hong Kong will help them overcome some of the problems they have faced in the past in terms of getting reliable supply out of China.
They have laid of 60% of Us staff apparently
in the meanwhile book value exceeds market value so they are ripe for raiders
In the short term the PST CaK has been discontinued and the RCX and other super premium range have been put on hold.
make no mistake there is blood in the water and the sharks no doubt will be circling
I personally hope they pull out of this problem -maybe strong pre christmas sales will help-or find a white knight soon.Otherwise...