From one crisis to another. This is what can be said about Lyris, Inc. (OTC:LYRI). A survivor of the dotcom, it is riding on a downfall again and who knows what the outcome would be. Interestingly though, the company is head hunting for senior-level executives for various positions. Is this a marketing trick, or a survival strategy? Besides the usual announcements about webcasts and the release of financial statements, there hasn`t been else to come from the company this month. The stock price continues to decline, closing at $0.19 this Tuesday. Besides the decrease of price, yesterday was also remarkable with the volume of shares traded – 6 million during the session. Such intense trading was last seen on the market ten years ago, during a period of steady decline. Let alone, the average daily volume revolved around twenty times less this number for the last few years. 
On a related subject, talking about numbers, it is hard to ignore the following:
- $9.3 million of current liabilities;
- $3.5 million net loss for the last six months of 2010;
- $238 (!) million of accumulated deficit;
Again, according to the last 10-Q statement, revenues are also declining on an annual basis. All in all, Lyris is one more victim of the economic downturn that still manifests throughout the country and the rest of the world. And if you are thinking now that the company is doomed, you are sadly mistaken. Experience counts here!
Lyris is an old player and a fighter, one that has already proven capable to overcome severe economic conditions like the dotcom disaster. In 2001, the stock dropped to sub-penny levels and many people rushed with their opinions of the dying software player. Six years after that, the share price topped $1 just before the current crisis started. The fact that the company is engaged in hiring new senior professionals might also be viewed as a good sign. [BANNER]
Most importantly, one should never neglect the strength of companies like Lyris. It is a fact that turbulent financial times have come for the company. What has also come is recognition from Deloitte, which included Lyris in the 2010 Technology Fast 500 Ranking – an annual ranking of the fastest growing technology, media, telecommunications, life sciences and clean-technology companies in North America. The company is at the 65th place.
So maybe shareholders are a long way from seeing the stock climbing again, but the possibility of this happening in the coming years is quite real.
