24/7 Wall St. Most Overpaid CEO Of The Day: Novatel (NVTL) CEO Peter V. Leparulo
Novatel (NVTL) managed to post guidance that was below expectations. Expectations must have already been poor. The company’s stock is off 60% over the last year, and should fall further today. For the third quarter, Novatel expects a loss of…
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Novatel (NVTL) managed to post guidance that was below expectations. Expectations must have already been poor. The company’s stock is off 60% over the last year, and should fall further today.
For the third quarter, Novatel expects a loss of $.03 to breakeven per share, on revenue of $80 million to $85 million. According to Reuters, "Analysts were expecting earnings of 18 cents a share, on revenue of $96.2 million, for the period."
Last year, the company’s CEO, Peter Leparulo, made $462,000 as a base. His contract calls for that to be the minimum again this year. His total compensation for 2007 was over $3.5 million.
Since the company has lost $500 million in market cap in the last twelve months, Leparulo may be doing too well.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
