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While the numbers for the quarter weren't the greatest I think this selloff is overdone.
They announced their biggest order from WalMart in the quarter which will ship in October and November of 2009.
A good chunk of their Q3'08 revenue was from their fireplace products which are now discontinued.
They just reaffirmed their guidance on September 3rd for 2009 EPS of $0.14-$0.16.
Their book value is $0.93/share.
Trading in the mid $0.70s doesn't seem justified.
I'm currently on the bid at $0.64
so did i. Totally sold out at .80 today.
I was a little dissapointed with those numbers, so I sold my shares this morning. Good luck!
DAC Technologies Announces Third Quarter 2009 Results
On 8:30 am EST, Monday November 16, 2009
LITTLE ROCK, AR--(Marketwire - 11/16/09) - DAC Technologies (OTC.BB:DAAT - News) today announced results for the quarter ending September 30, 2009. For the nine months ending September 30, 2009 the Company reported net income of $386,241 on net sales of $9,774,701, as compared to net income of $133,548 and net sales of $9,360,487 for the same period in 2008. This is an increase in net income of $252,693, or 189%. Earnings per share for the nine months ending September 30, 2009 were seven cents per share as compared to two cents per share in 2008, an increase of 250%.
For the three months ending September 30, 2009 the Company reported net income of $73,375 and net sales of $3,098,204 as compared to $83,484 and $3,920,460, respectively, in 2008.
David A. Collins, Chairman and CEO, stated, "As discussed in previous press releases, the Company is not manufacturing the low gross margin items, such as fireplace accessories and game processing equipment. This business was all done in the 3rd and 4th quarters of 2008 and totaled $4,796,387 in revenue during that period. Although we knew this would affect sales in 2009, the Company has chosen to concentrate on its core business of gun cleaning kits and gun accessories and in increasing its gross margins. The Company has increased its core business in 2009 by $1,901,049, or 32%. Gross margins have increased from 25% in 2008 to 30% in 2009. Although sales for the nine months increased only 4%, the Company's net income has increased 189%, in large part due to the increase in gross margins. The Company has introduced a new line of Winchester� gun cleaning kits into Wal-Mart in 2009 and looks forward to expanding its Winchester� products in both Wal-Mart and other retailers in 2010."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.
DAC TECHNOLOGIES GROUP INTERNATIONAL, INC.
Condensed Consolidated Balance Sheet
September 30, 2009 and December 31, 2008
Assets
Sept. 30 Dec. 31
2009 2008
----------- -----------
(unaudited)
Current assets
Cash $ 212,325 $ 599,103
Accounts receivable, less allowance for
doubtful accounts of $20,000 in 2009 and 2008 682,479 495,718
Due from factor 4,913 1,542,918
Inventories 6,502,796 2,742,563
Prepaid expenses and deferred charges 73,095 72,068
Current deferred income tax benefit 31,019 31,019
----------- -----------
Total current assets 7,506,627 5,483,389
----------- -----------
Property and equipment, net 266,359 266,011
----------- -----------
Other assets 518,317 430,586
----------- -----------
Total assets $ 8,291,303 $ 6,179,986
=========== ===========
Liabilities and Stockholders' Equity
Current liabilities
Notes payable $ 417,611 $ 104,609
Accounts payable 2,174,836 795,136
Accrued expenses 73,738 118,369
Income taxes payable 195,625 89,700
----------- -----------
Total current liabilities 2,861,810 1,107,814
----------- -----------
Deferred income tax liability 66,574 66,574
----------- -----------
Stockholders' equity
Common stock 6,323 6,323
Additional paid-in capital 1,963,102 1,963,102
Treasury stock, at cost (401,043) (372,124)
Retained earnings 3,794,537 3,408,297
----------- -----------
Total stockholders' equity 5,362,919 5,005,598
----------- -----------
Total liabilities and stockholders' equity $ 8,291,303 $ 6,179,986
=========== ===========
DAC TECHNOLOGIES GROUP INTERNATIONAL, INC.
Condensed Consolidated Statements of Operations
For The Nine Months Ended September 30, 2009 and 2008
Unaudited
Percent
Increase
2009 2008 (Decrease)
---------- ----------
Net sales $9,774,700 $9,360,487 4%
Cost of sales 6,878,764 7,029,159 -2%
---------- ----------
Gross profit 2,895,936 2,331,328 24%
---------- ----------
Operating expenses
Selling 1,253,450 1,061,411 18%
General and administrative 882,198 848,629 4%
---------- ----------
Total operating expenses 2,135,648 1,910,040 12%
---------- ----------
Income from operations 760,288 421,288 80%
---------- ----------
Other income (expense)
Interest expense (129,987) (170,349)
Other income 14 0
---------- ----------
Total other income (expense) (129,973) (170,349) -24%
---------- ----------
Income before income tax provision 630,315 250,939 151%
Provision for income taxes 244,075 117,391 108%
---------- ----------
Net income $ 386,240 $ 133,548 189%
========== ==========
Basic and diluted earnings per share $ 0.07 $ 0.02 250%
========== ==========
Weighted average number of common shares:
Basic and diluted 5,814,802 6,033,985
They are due by the 16th but we could see them as late as the 17th if they file late on the 16th. I'm guessing we see them on Monday morning.
when are earnings due out on this? Nice buy volume today.
buy recommendation:
Smallcaps.us issued a buy recommendation for DAC Technologies. Link: http://www.smallcaps.us
“DAC Technologies reduced selling low-margin products and focused on its higher margin items. As a results, the Company expects to more than double last year's earnings. We feel this isn't reflected in the stock price yet.”
DAAT Another validation that sales are up.
DAAT makes the gun cleaning kits for all these guns that are being sold!
http://www.fool.com/investing/general/2009/10/21/a-big-upgrade-for-smith-wesson.aspx
But the rush to buy guns and ammo that began late last year, sending consumers to gun shows and retailers like Cabela's (NYSE: CAB) and Wal-Mart (NYSE: WMT), is still going strong. The rush has eased, but sales have been up by double-digit percentages in every month since last October, except July, according to the National Shooting Sports Foundation. Firearm manufacturers like Sturm, Ruger (NYSE: RGR) and Smith & Wesson have booked solid sales and backlog, and ammo makers like ATK and Olin (NYSE: OLN) are still trying to keep up with demand.
Dick Milde
DAAT had 30% gross margins last quarter....not bad at all.
DAAT is selling cleaning supplies (e.g. dusters). You can find them in WallMart.
DAAT has always been trapped by their good neighbor Walmart's control of DAAT margins.
There is also a growing belief that Obama's impact on gun cleaning kit sales will lessen over time (just funnin').
I still own some DAAT from a few years ago, and I continue to be disappointed that they cannot break out with new products in new areas. I mean ... heck, they were trying to sell mops for awhile.
Regards, and good luck!
'peeker
I guess the only reason that leaves is that not enough people know about it.
I haven't been able to figure out why DAAT is so cheap since the .20s
I think it will move. If this stock isn't considerably higher by the time Q3 results come out I expect Q3 results to move it up.
I don't understand why we aren't over $1. This will move soon.
13:39 Cabela's: September FBI background checks for firearm suggest strong demand for firearms - Feltl & Co. (13.10 +0.38)
Feltl & Co. notes that FBI background checks in September were higher than expected, leading the firm to believe that demand for firearms has remained high through the fall. The firm had expected slightly lower results due to channel checks at Cabela's stores and competitors as they thought the fall demand for firearms had not picked up substantially. However, the firm is encouraged by the strong year-over-year growth and the stable sequential improvement in background checks. In addition, the firm thinks the lead-up to hunting season has been strong with continued demand for firearms from political fear.
Bullet makers can't keep up with demand
"We are working overtime and still can’t keep up with the demand,” said Al Russo, spokesman for North Carolina-based Remington Arms Company, which makes bullets for rifles, handguns and shotguns. “We’ve had to add a fourth shift and go 24-7. It’s a phenomenon that I have not seen before in my 30 years in the business.”
http://www.alternet.org/blogs/rights/142934/scary%3A_bullet_makers_can%27t_keep_up_with_demand
The continued high demand for guns and ammo has a positive effect for DAAT that supplies gun cleaning kits and accessories to the big retailers such as Wal-Mart.
From DAAT's last Q report...
-- Positive Trends Continue
-- Gross Margins Continue to Increase
-- FY2009 Guidance Increased
Dick Milde
Darn, it did have that bottom feel too....sorry, will pound it in you harder next time.
How many years have you had the pleasure of knowning me???
You know I have majorly ADD and need to be directly screamed at!!
ugh missed another great opportuniy (as I prefer bottoms)
We've been screaming our heads off on this one the entire way up. I think it was Mike heaviest loaded position even before it tripled. Not only is it gun-related, but they are making money hand over fist, have a pristine debt-free balance sheet, bought back a ton of shares, and still has a tiny PE ratio.
hey why didn't you guys tell me about this one!
up over double since March and gun related
No, that is something new. It was done at Walmart's request/mandate. They are doing the same thing with all or at least most of their gun accessory suppliers. The gun accessory isle at Walmart looks like a Winchester isle now.
It's always a challenge to punch through shares being offered at .XX88 then it tends to rocket
I noticed Walmart now sells Dac kits packaged by Winchester, or is that something old? Sure beat that lame blue, and white, and the Winchester name too.
that did seem like new territory to me but wasn't sure. yay!
DAAT just printed a new 52 week high at $0.91!
hey Raw - I'm perplexed as to why DAAT isn't trading much higher. I wish we had someone on this board who knows or spoke to management - how do we start that DD process?
Let's get some real research here like we have going with the EGMI board and investors. I really want to double down on DAAT but holding off until I can find people who know management, etc.
The DAAT ask moved up to $0.89.
I have been adding a few here and there.
BTW I recently saw DAC products in Dunhams sports. I Dont know if they were there before or not but I have never seen them there. Dunhams is big in MI.
Someone has been hitting the ask today. I wouldn't be surprised if it starts to take off.
looks like someone did my dirty work for me! :)
well it's that or an initial ZAGG position for my IRA... I thought maybe I'd get some ZAGG instead since I have a good amount of DAAT. what do u think?
There is one way to find out :)
Been buying DAAT today at $0.85 and below. If I print some trades at $0.878 - you think that would be enough to get this thing moving?
DAAT very much off radar is why IMO
I got 15k shares already - I can maybe afford another 5k shares but I want to see some movement first - weird it didn't shoot over $1 with that walmart PR
Remember DAAT is entering the seasonally superior period now...
Reaffirming guidance. That's huge! This stock should be trading at a bare minimum of $1.40
DAAT lands big Wal-Mart order...
DAC Technologies Receives Large Holiday Purchase Orders
Press Release
Source: DAC Technologies Group International, Inc.
On Thursday September 3, 2009, 8:30 am EDT
Companies:DAC Technologies Group International Inc.
LITTLE ROCK, AR--(Marketwire - 09/03/09) - DAC Technologies (OTC.BB:DAAT - News) today announced it has received the largest single purchase order in its 16 year history. The purchase order from Wal-Mart is for the Company's deluxe gun cleaning kit and will ship in October and November of 2009. The purchase order is for a Holiday promotion and is well in excess of seven figures.
David A. Collins, Chairman and CEO, stated, "The Company is very excited about receiving POs of this magnitude and continues to concentrate on its core business of gun cleaning kits and firearm accessories. The Company is experiencing large sales increases in this area and expects the trend to continue. The Company reaffirms its higher guidance of 14 to 16 cents earnings per share and sales of $16 to $18 million."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward-looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.
Contact:
For Shareholder Information:1-800-920-0098Email Contact
DAC Technologies Announces Second Quarter 2009 Results
Second Quarter Profits Increase 1489%
Press Release
Source: DAC Technologies Group International, Inc.
On Monday August 17, 2009, 7:00 am EDT
Companies:DAC Technologies Group International Inc.
LITTLE ROCK, AR--(Marketwire - 08/17/09) - DAC Technologies (OTC.BB:DAAT - News)
-- Positive Trends Continue
-- Gross Margins Continue to Increase
-- FY2009 Guidance Increased
DAC Technologies (OTC.BB:DAAT - News) today announced net income for the quarter ending June 30, 2009 of $128,566 versus $8,090 for the same period in 2008. This is an increase of $120,476, or 1489%. Net sales for the second quarter 2009 were $3,143,041 versus $2,724,258 for the second quarter 2008. This is an increase of $418,783, or 15%.
David A. Collins, Chairman and CEO, stated, "The Company continues to benefit from a positive trend in firearm accessories and concentrating on its core business of gun cleaning kits, gun locks and firearm accessories. The Company also continued to increase its gross margins, from 25% in the second quarter of 2008 to 30.2% for the second quarter of 2009, an increase of 5.2%. Gross margins also increased in the first quarter by 3.5% over 2008. The Company is also benefiting from lower shipping costs, elimination of low gross margin products such as fireplace equipment and game processing items, and lower commodity prices. We expect this trend to continue through 2009 into 2010, even as commodity prices go to average levels."
Collins also stated, "Net sales were $6,676,498 for the first six months of 2009, an increase of 23% over 2008. Net income for the first six months of 2009 was $312,865, almost equal to the full year's net income of $356,694 for 2008. It will be difficult to maintain the large sales increases we have enjoyed in the first six months, mainly due to the fact that most of the low gross margin products we have eliminated were fall sales items. We do expect to maintain large sales increases in our core business of gun accessories, both through existing customers and increased market share. Due to these facts, the Company is raising guidance on EPS from 12 to 14 cents per share to 14 to 16 cents per share."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.
DAC TECHNOLOGIES GROUP INTERNATIONAL, INC.
Condensed Consolidated Balance Sheet
June 30, 2009 and December 31, 2008
Assets
June 30 December 31
2009 2008
----------- -----------
(unaudited)
Current assets
Cash $ 69,026 $ 599,103
Accounts receivable 610,838 495,718
Due from factor 524,170 1,542,918
Inventories 5,399,082 2,742,563
Prepaid expenses and deferred charges 108,184 72,068
Current deferred income tax benefit 31,019 31,019
----------- -----------
Total current assets 6,742,319 5,483,389
----------- -----------
Property and equipment, net 269,943 266,011
----------- -----------
Other assets 480,726 430,586
----------- -----------
Total assets $ 7,492,988 $ 6,179,986
=========== ===========
Liabilities and Stockholders' Equity
Current liabilities
Notes payable $ 80,155 $ 104,609
Accounts payable 1,838,194 795,136
Accrued expenses 70,281 118,369
Income taxes payable 148,240 89,700
----------- -----------
Total current liabilities 2,136,870 1,107,814
----------- -----------
Deferred income tax liability 66,574 66,574
----------- -----------
Stockholders' equity
Common stock 6,323 6,323
Additional paid-in capital 1,963,102 1,963,102
Treasury stock, at cost (401,043) (372,124)
Retained earnings 3,721,162 3,408,297
----------- -----------
Total stockholders' equity 5,289,544 5,005,598
----------- -----------
Total liabilities and stockholders' equity $ 7,492,988 $ 6,179,986
=========== ===========
DAC TECHNOLOGIES GROUP INTERNATIONAL, INC.
Condensed Consolidated Statements of Operations
For The Three Months Ended June 30, 2009 and 2008
Unaudited
Percent
Increase
2009 2008 (Decrease)
----------- -----------
Net sales $ 3,143,041 $ 2,724,258 15%
Cost of sales 2,195,174 2,043,077 7%
----------- -----------
Gross profit 947,867 681,181 28%
----------- -----------
Operating expenses
Selling 399,352 336,131 19%
General and administrative 298,514 287,764 4%
----------- -----------
Total operating expenses 697,866 623,895 12%
----------- -----------
Income from operations 250,001 57,286 336%
----------- -----------
Other income (expense)
Interest expense (41,265) (43,579)
----------- -----------
Total other income (expense) (41,265) (43,579) -5%
----------- -----------
Income before income tax provision 208,736 13,707 1423%
Provision for income taxes 80,170 5,617 1327%
----------- -----------
Net income $ 128,566 $ 8,090 1489%
=========== ===========
Basic and diluted earnings per share $ 0.02 $ -
=========== ===========
Weighted average number of common
shares:
Basic and diluted 5,793,699 6,032,899
Yup, I agree, I don't know how much this will help the stock price next week but looks great going into the seasonally stronger months.
Carrying out the diluted EPS one more digit I get $0.022. Q1 and Q2 are the seasonally slowest quarters so this is a very nice showing. It is the strongest revenue and EPS for Q2 going back to at least 2007. I didn't go back further so it may be longer.
Pretty much what was expected, since they released their revenue numbers a couple of weeks ago and margins stayed relatively stable from the 1st quarter. I don't know if this will cause much of a bump in the price come Monday morning though.
here is a link to the release regarding sales.
http://finance.yahoo.com/news/DAC-Technologies-Named-iw-443436676.html?x=0&.v=1
Trailing will now show EPS over +.10 with a PE of 8
DAAT reports $.02 vs nil, revs $3.1M vs $2.7M
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COMPANY ADDRESS:
DAC Technologies Group International, Inc.
12120 Colonel Glenn Road (Suite 6200)
Little Rock, AR 72210
Telephone: (501) 661-9100
WEBSITE: www.dactec.com
COMPANY DESCRIPTION:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Marlin, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
DAC Technologies Group International, Inc. is in the business of developing, marketing and outsourcing the manufacture of various consumer products, patented and non-patented. The Company’s primary business is gun safety and gun maintenance with a target consumer base of sportsmen, hunters and outdoorsmen, and recreational enthusiasts. The Company’s products have historically been security related, evolving from various personal, home and automotive electronic security devices, to firearm safety devices such as gun and trigger locks, cable locks and safes. In 2003, the product line was expanded to include a line of gun cleaning kits and accessories. This line has continued to be expanded, and through the third quarter of 2007 has accounted for approximately 55% of the Company’s sales revenues. In 2005, the Company began developing products in the hunting and camping market, adding a line of meat processing items. The Company continues to develop this market, having added a knife processing kit, aluminum camping table and turkey seat. Hunting and camping has accounted for 31% of the Company’s sales through the third quarter of 2007. The Company has begun to expand its product line into household products, adding a wooden fireplace bellow in the third quarter of 2007, and started production of three cleaning dusters that will begin to ship to customers in December 2007. Although a significant portion of our business is with the mass-market retailer Wal-Mart (approximately 61%), we have been able to considerably increase our business with large sporting goods retailers, distributors and catalog companies. The majority of the Company’s products are manufactured and imported from mainland China and shipped to the Company’s central warehouse facility in Little Rock, Arkansas for distribution. These products, along with other items manufactured in the United States, are sold primarily to mass merchants and sporting goods retailers throughout the United States and international locations.
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