SGMA, Sold my first batch at $8.31. Looks like it wants to hit $9.
The one time 'benefits' discussed but not detailed in the earnings pr were detailed in the 10K. SGMA had .21 in after tax one time benefits in their fourth quarter, so SGMA really made an after tax .09/share for their fourth quarter.
from the 10K:
"1.)
Due to a fire at one of the Company’s plants during 2017, the Company recorded expense of approximately $230,000 in prior quarters in costs of goods sold that was realized as an insurance recovery during the fourth quarter of 2017 as recovery was considered probable. As part of this settlement, a gain of approximately $277,000 was also recorded in the fourth quarter of fiscal 2017 due to the insurance claim exceeding the net book value of the replacement machinery and equipment destroyed.
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2.)
The Company records inventory reserves for valuation and shrinkage throughout the year based on historical data. In the fourth quarter of fiscal 2017 physical inventory results were completed and the Company adjusted the estimate which increased income before income tax expense by approximately $780,000.
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3.)
As discussed in Note G, during the fourth quarter of fiscal 2017 the Company recorded a change in estimate related to Contingent Consideration which increased income before income tax expense in the amount of approximately $247,000.
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The aggregate after-tax effect for the above adjustments in the fourth quarter of fiscal 2017 was an increase to basic earnings per share of $0.21."
best.
