I've been watching PSN with interest.

That news release I saw today just makes me think they've *begun* on the road to fixing the company's issues.

They still need to get a CEO, President and CFO who don't have 'interim' as part of their titles.

And as they go through the receivables, there will be more writedowns.  Maybe with some luck once they get their AR in order, they might be able to recover some of those previously written off receivables.

Combine that with a slowing in sales growth and I don't see the share price recovering all that much over the next 2-3 quarters.

Still, the underlying business appears to be viable unless there's a bigger slowdown in the oil patch... which isn't something I'm expecting.