Friday, August 12, 2016 11:50:22 AM
The timing of the Hopkins facility purchase was definitely fortuitous IMO and glad that finally got consummated.
It was obviously frustrating seeing Q1 revs results and the lousy margins (I tried to make that pretty clear lol) but they (probably CFO) did a much better job directly addressing the issue in this quarter's release with commentary in the Q filing so it looks like they are back on track with their business and running it profitably.
This should be the beginning of a sustainable run of increased work for them even with the backlog burn. They have good ties with several heavy civil companies that operate around the Mid Atlantic and into the Southeast.
The backlog burn was heavy in the Q but there should be a good bunch of lettings coming as 2017 develops and the next 2 Qs should be robustly healthy to give them a bridge getting to the increased project spends in 2017 and IMO probable bump back up in backlog. Looked like Rodney may have hinted at that with the commentary about 2017.
Should be some brighter years ahead finally in both the heavy and light construction area for the country. That bodes well for SMID.
All IMO.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
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