What a ride the investors of this stock have had, mainly due to Wall
Mart who seem to have attempted to prove to March that they could get
a better deal by squeezing hard.
The second supplier was just that; to be used only if Wall Mart
throttled March to death, luckily that didn't happen but it looked
nasty for a while.
Meanwhile Wall Mart was busy adjusting its security force putting some
full timers on part time and laying off others, the result was a
dramatic rise in "losses" to some three billion dollars a year, almost
as much profit as they make a quarter.
Continued investment in good quality security equipment and personnel
must now make good business sense to Wall Mart and will show a very
good return on investment.
In the mean time March has been striding forward getting lots of new
customers and some great prospects in the funnel.
In spite of March's very poor Public Relations handling of  this
challenge by the end of the current financial year Wall Mart's
contribution to sales may be as low as 20% because of the explosive
growth that is about to occur in other areas of March's business.
Wall Mart must now be playing catch up to get back on schedule, and
because of this I think that March's earnings this year are still
considerably understated. Call me mad if you like but I expect that
earnings will come in at between $120 to $140 million for the whole
year.
The.one who.knows.