Moro Corporation (MRCR)

[ghmm]

I am a little surprised the company put out a PR. Its not like there is much volume probably just 1 person sold didn't care the price. This seems to happen occasionally with the stock though today perhaps the 2k shares was a little more then other times. Frankly I would have preferred not to see a PR as I was the buyer today.

http://biz.yahoo.com/bw/090105/20090105005936.html?.v=1&printer=1

Volativity of Moro Corporations Stock Price
Monday January 5, 2:42 pm ET

WAYNE, Pa.--(BUSINESS WIRE)--Moro Corporation (OTC:MRCR - News) – David W. Menard, President of Moro Corporation today announced that there are no events known to him that would justify the Monday, January 5, 2009 sale of Moro’s common stock at $.60 per share versus the last trade of $1.25 on Friday, January 2, 2009 and on Wednesday, December 31, 2008.

ADVERTISEMENT
Moro’s 2008 revenues will be approximately $75,000,000 which will be 17% greater than the $64,000,000 reported for 2007. During 2007 after tax profits were $1,516,000 or $.24 per share.

For the nine months ended September 30, 2008 after tax profits were $769,000 or $.12 per share. At September 30, 2008 stockholder’s equity was $1.39 per share.

Moro recently moved its commercial banking relationship to TD Bank, N.A. where it obtained a credit line of $15,000,000 of which $12,000,000 is a two year revolving line of credit secured by accounts receivable and inventory at an interest rate of thirty day LIBOR plus 200 basis points. As of today, this interest rate formula translates to a low annual interest rate of 2.43%.

Although there is considerable uncertainty in today’s economy, Moro has a strong financial position and is operating at a profitable level.

Most of the products and services provided by Moro fall under the category of “infrastructure” which our Washington politicians are telling us will be a major focus of government economic stimulus during 2009. Such stimulus should be good for Moro.

Moro is a profitable and financially strong multi-subsidiary and eleven-location construction products and services company engaged in the (a) fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), and process piping, (b) distribution of construction steel, miscellaneous steel and construction accessories, and (c) industrial/commercial/residential mechanical contracting services (HVAC, plumbing, and piping).

For more information, contact David W. Menard, President and CEO, at 484-367-0300, fax [phone].

Statement under the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements regarding, among other things, the anticipated profitability and continued growth of the company. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the continued ability of the company to generate operation profits, the lack of continued demand for the company’s products, the ability to locate and acquire suitable acquisition opportunities, and if acquired, the failure of any such businesses to generate operating profits.


Contact:

Moro Corporation
David W. Menard
President and CEO
484-367-0300
Fax: [phone]