PAX Global CFO Ejects Bearish Macquarie Analyst From Conference caught on video – Nomura was not impressed opining:

Before the analysts briefing meeting started, the company’s CFO asked a sell-side analyst to leave the conference room. While we do not judge this dispute, we think this may hurt PAX Global’s shareholder value.

And:

We have slightly lowered our target multiple to reflect the disruption in shareholder value from CFO’s recent conduct

Fortune via Reuters notes:

In the video, CFO Chris Lee told Macquarie’s Timothy Lam during the briefing on Wednesday to leave immediately.

“You don’t do your job. You didn’t do your job. Go out,” Lee said, adding that if he didn’t leave he wouldn’t say anything and that Lam had no right to be there.

The CFO did not realize he was on candid camera once he did he apologized stating:

“I would like to express my regrets as to my own behavior during the briefing yesterday and welcome all the diverse points of view and perspectives toward the company and myself.”

But other analysts did not blink an eye nor mention it in their reports:

UBS opines:

In the wake of yesterday’s earnings release, management hosted a meeting/call today. We agree with management’s view that the US EMV delay is good for PAX, as we also believe that the extended period of certification keeps the window of opportunity open longer for newcomers to enter the market. PAX posted 150% YoY growth in 1H16 USmarket sales and expects to sustain this rate for the rest of the year and likely into next year.

CIMB Research states:

PAX announced a 1H16 net profit of HK$311m, flat yoy, impacted by the expiry of tax holidays and absence of tax write-backs. On a normalised basis, both revenue and EBITDA rose 20% yoy, at the upper end of our 15-20% forecast. Gross margin rose 2.1% pts yoy to 43.6% due to the RMB cost base and more profitable overseas sales. We see the company as being on track to meeting our full-year forecast after achieving over 47% of our HK$658m net profit estimate in 1H16.

See the full video below

PAX Global CFO Ejects Analyst
Image source: YouTube Video Screenshot