Tcp International Holdings Ltd. (delisted)【TCPI】株式ニュース

Well, that was a BIG MOVE --->

DOWN

This from their NT10 Q does not look good:

Unaudited preliminary financial results for the quarter ended September 30, 2017, are expected to include:
• Revenues within the range of $59 million to $61 million, compared with revenues within the range of $102 million to $104 million for the quarter ended September 30, 2016. Revenues decreased from the third quarter of 2016 primarily due to lower sales of LED and CFL products to retail customers in North America and Europe.
• A non-cash charge for long-lived asset impairments within the range of $1.4 million to $2.4 million related to impairment of CFL-related product facilities and equipment. The Company is still in the process of finalizing the fair value measurements used to determine the final impairment charge to be reported.
• Loss before income taxes within the range of $(4.1) million to $(6.1) million, compared with income before income taxes within the range of $7.5 million to $8.5 million for the quarter ended September 30, 2016. Income before income taxes decreased from the third quarter of 2016 primarily due to the reduction in revenues and the resulting decrease in operating leverage in our manufacturing operations along with the long-lived asset impairment charges, partially offset by lower payroll expenses and a $1.1 million gain on the sale of the Company's Shanghai sales office.
• A non-cash charge for the establishment of a full valuation allowance against the net deferred tax assets of $16.9 million (or $0.58 per share) within the Company's U.S. operations.
• Diluted loss per share within the range of $(0.70) to $(0.75) per share, compared with diluted earnings per share within the range of $0.16 to $0.18 per share for the quarter ended September 30, 2016.
• Cash and cash equivalents of approximately $12 million, compared with cash and cash equivalents of approximately $26 million at December 31, 2016.
• Total debt of approximately $35 million, compared with total debt of approximately $33 million at December 31, 2016. The remaining borrowing capacity under the U.S. revolving line of credit was approximately $19 million at September 30, 2017.

In light of declining revenues, the Company is evaluating alternatives for improving efficiency. If the Company continues to experience lower revenues, or if any activities undertaken by the Company do not result in sufficient efficiency benefits, the Company may continue to experience operating losses.
The audit of the Company's annual financial statements and reviews of its quarterly financial statements have commenced but there can be no assurance that material adjustments to previously issued financial statements, previously disclosed preliminary results or these preliminary results will not be required.

Then from the last 8k:

On October 26, 2017, Zachary A. Guzy, Chief Financial Officer of TCP International Holdings Ltd. (“the Company”), resigned to accept a position with a consumer products company not affiliated with the lighting industry. His resignation did not arise from any disagreement on any matter relating to the operations, policies or practices of the Company. Mr. Guzy will remain with the Company through November 17, 2017.

Caution advised.