Q: What makes the management call on LMN different than management calls that didn't work out as we hoped?
5i Research Answer:
There is never a guarantee on management quality. LMN, as a subsidiary of CSU, has good pedigree. We expect CSU to 'guide it' and expect it to follow the same general strategy as CSU. That it, making solid acquisitions, focusing on cash flow, never diluting shareholders and letting numbers speak for themselves (i.e not wasting time courting analysts and investors). So far, so good, as the stock is doing well and growth was 99% in the 3Q. It is still early days, but we are quite confident that in 10 years investors are going to be very happy that they owned LMN.