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Here is a table showing revenue and GM by quarter:
Quarter Revenue GM
Q1'07 $12.316M 19.1%
Q4'06 $10.975M 16.0%
Q3'06 $8.178M 13.5%
Q2'06 $9.581M 18.4%
Q1'06 $9.596M 16.9%
Q4'05 $9.442M 17.1%
Q3'05 $8.688M 17.0%
Q2'05 $8.899M 17.3%
Q1'05 $9.596M 16.8%
EDAC Technologies Reports Record Quarterly Operating Profit
Monday April 30, 6:04 pm ET
FARMINGTON, Conn., April 30 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported record results for the first quarter of 2007.
Sales for the first quarter of 2007 were $12,316,000 and net income was $781,000 or $0.16 per diluted share, versus sales of $9,596,000 and net income of $293,000 or $0.06 per diluted share for the first quarter of 2006. Income from operations increased to $1,430,000 in 2007 from $611,000 in 2006. The first quarter of 2006 included costs of $226,000 associated with expansion of our manufacturing capacity by approximately 24,000 square feet and other non- recurring expenses.
Dominick A. Pagano, President and Chief Executive Officer, said, "We are very pleased with the continued strong results. Our operating profit for the first quarter was the highest in our history. Total backlog increased from $28,800,000 at the end of the fiscal 2006 to $31,600,000 at the end of the first quarter. As recently announced, our first quarter sales were our highest quarterly sales in six years. Sales increased $2,751,000 in our Precision Aerospace product line for the first quarter 2007 compared to the first quarter 2006. Our 2007 capital plan includes over $3.7 million in machinery and equipment additions to increase productivity and production capacity. Through the first quarter we have invested over $579,000 in machinery and equipment and have made commitments for an additional $1 million. We've made these investments to meet our sales backlog requirements and to further position us for future growth. We will continue to pursue opportunities that will strengthen EDAC for the long term."
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
Cautionary Statement Regarding Forward Looking Statements -- This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.
Contact:
Glenn L. Purple
Vice President-Finance
860 677-2603
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED
For the quarter ended
March 31, April 1,
2007 2006
Sales $12,315,638 $9,595,579
Cost of Sales 9,968,094 7,970,934
Gross Profit 2,347,544 1,624,645
Selling, General and Administrative Expenses 917,625 1,013,865
Income From Operations 1,429,919 610,780
Non-Operating Income (Expense):
Interest Expense (194,436) (153,399)
Other 4,795 14,388
Income Before Income Taxes 1,240,278 471,769
Provision for Income Taxes 459,000 179,000
Net Income $ 781,278 $ 292,769
Income per common share data:
Basic income per share $0.17 $0.06
Diluted income per share $0.16 $0.06
Weighted average shares outstanding:
Basic 4,532,687 4,506,145
Diluted 4,829,478 4,791,735
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (Audited)
March 30, December 30,
2007 2006
ASSETS
CURRENT ASSETS:
Cash $637,441 $925,197
Accounts receivable, net 7,215,186 7,331,226
Inventories, net 8,632,477 8,234,866
Prepaid expenses and other current assets 244,227 56,438
Refundable income taxes 140,650 140,650
Deferred income taxes 211,394 211,394
Total current assets 17,081,375 16,899,771
PROPERTY, PLANT AND EQUIPMENT 31,225,772 30,646,744
Less: accumulated depreciation 20,873,938 20,315,938
10,351,834 10,330,806
DEFERRED INCOME TAXES 1,022,786 1,248,786
OTHER ASSETS 80,292 86,001
TOTAL ASSETS $28,536,287 $28,565,364
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Revolving line of credit $850,000 $ 1,000,000
Current portion of long-term debt 1,926,779 1,895,436
Trade accounts payable 4,541,348 4,806,090
Employee compensation and amounts withheld 1,454,907 1,511,820
Accrued expenses 509,640 355,415
Customer advances 55,377 120,767
Total current liabilities 9,338,051 9,689,528
LONG-TERM DEBT, less current portion 7,586,279 8,081,720
OTHER LONG-TERM LIABILITIES 163,981 163,981
SHAREHOLDERS' EQUITY:
Common stock 11,345 11,316
Additional paid-in capital 9,567,222 9,530,688
Retained earnings 3,352,450 2,571,172
Accumulated other comprehensive loss (1,483,041) (1,483,041)
Total shareholders' equity 11,447,976 10,630,135
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $28,536,287 $28,565,364
EDAC is up $0.20/share today to $5.70 for a new 52 week high. The bid/ask is currently $5.68 X $5.72.
Mike
Looks like earnings may be even better than we thought. EDAC running hard on high volume.
How soon to $10?
http://tinyurl.com/2gyc2b
Wade...if you look at the trading pattern it's all this morning for the most part. I figure the volume this morning is from those that are already aware of EDAC and wanted to grab some more. I'm not sure how many "new" investors stepped in today. Also, I doubt any institutions are involved much at all (due to the OTC status).
The company is attempting to increase awareness with their new approach to news releases (January's 4th Q preview, new order's #s from a couple weeks ago, and today's pr). All of these pr's aren't "fluff" ones either. Unfortunately, they release them late at night for some reason rather than in the morning or right after market closes. I'm not complaining too much though. It's better than silence.
I just think it's going to take time and patience for the full value of this stock to be realized. In the meantime, it provides an opportunity to nibble at buying more on any dips.
Dave
Surprised not up more today
Great revenue number increase. Using same 16% margins as in the Dec qtr, and a 38% tax rate, assuming other expenses are similiar to last qtr as well, it seems EDAC should post $.15 fully taxed for the Mar qtr. That would culminate to only a 9 PE going forward- seems way to cheap for this fast grower. Wade
Here is the updated historical backlog information:
Date Amount
03/31/2007 $31.6M + $4.5M LOI^ = $36.1
02/28/2007 $32.4M
09/30/2006 $31.0M
07/01/2006 $28.3M
04/01/2006 $25.0M
12/31/2005 $21.7M
10/01/2005 $22.1M
07/02/2005 $21.7M
04/02/2005 $20.6M
01/01/2005 $18.3M
Hi Mike and Dave, yes, first post on iHub. Nobody really follows EDAC anyway and I've had a long time to accumulate cheap shares. EDAC is my #2 holding and it's great to see the company growing even faster than my lofty expectations.
It's almost surreal to read the backlog numbers, the promised engine parts purchases, the much improved balance sheet, the record sales against the backdrop of a $22M company. These are exciting times to watch EDAC locked and loaded and ready to skyrocket at any moment.
The 60% it's gone up YTD is merely a warmup.
argyle, I agree that $10/share is a likely scenario for later this year.
I'm sticking with my original Q1 EPS estimate of $0.15 to $0.20/share but I think that $0.18 per share is a likely number. At some point I think they will start to see improved GM numbers which should really get the earnings cooking. I expect improved GM to happen by Q3 but it could be as early as this quarter. For right now I'm guessing Q2 will be in the $0.17 to $0.22 range but a higher number is possible with GM improvement. I'll come out with a new Q2 estimate after the Q1 report is out.
Welcome to iHub! I noticed that this is your first post.
Mike
Hey Mike! Nice pr by EDAC. They are becoming very shareholder friendly in that they didn't waste any days putting out the results for the quarter. I was "hoping" they would toss something our way next week. The fact that they already did it makes me read between the lines more on their future intentions/possibilities.
I'd be very happy if their gross margins went up to around 18%+ for the quarter and the net 16 cents fully taxed (38%).
Also good to see backlog solid even after $12+M in revenue. Means they should/could get to the $15M/quarter number by 3rd (or more likely 4th quarter). That would put them at 20 cents/share or a run rate of 80 cents/year. A listing on AMEX or Nasdaq Smallcap would put us over $10 by December!
I'm loving it. My #1 holding.
Dave
Phenomenal growth story here. EDAC is bursting at the seams trying to keep up with growth.
Mike, looks like you need to revise your estimates and stock price target higher. EDAC can trade 100% higher ($10 per share) and it'd still be an attractive buy.
No longer a question IF EDAC can double....now it's simply how fast.
EDAC Technologies Corporation Reports Highest Quarterly Sales in Six Years
Wednesday April 4, 6:41 pm ET
FARMINGTON, Conn., April 4 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported its highest quarterly sales in six years. First quarter sales for 2007 were $12.3 million, representing an increase of $1.5 million over the preceding quarter and an increase of $2.7 million over the first quarter of 2006. EDAC's sales backlog at March 31, 2007 was $31.6 million. In addition to its backlog, as previously announced, the Company has a letter of intent from a customer to purchase approximately $4.5 million of jet engine parts. This order will be added to the Company's backlog when the related purchase orders are issued and accepted. EDAC currently has budgeted over $3.7 million primarily for additional machinery and equipment scheduled for delivery in 2007, to support its Precision Aerospace product line. Dominick A. Pagano, President and Chief Executive Officer, commented, "The Precision Aerospace product line has again showed strong improvement over the previous quarter. Our first quarter sales for 2007 were the Company's highest quarterly sales since the first quarter of 2001. We will continue to pursue the aerospace and other opportunities for all of our product lines."
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.
Contact:
Glenn Purple
EDAC Technologies Corporation
860-679-7418
--------------------------------------------------------------------------------
Source: EDAC Technologies Corporation
EDAC had a nice close today. It ended at $4.98 which was up $0.10.
Mike
EDAC Technologies Announces Annual Meeting Date
Wednesday March 28, 6:16 pm ET
FARMINGTON, Conn., March 28 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, has scheduled its annual meeting of shareholders for June 6, 2007, at 9:30 a.m. local time and its record date for voting at the annual meeting as April 19, 2007. The Company anticipates mailing proxy materials to its shareholders on or about April 27, 2007.
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
For further information, please contact:
Glenn L. Purple
Vice President-Finance
Tel: (860) 677-2603
--------------------------------------------------------------------------------
Source: EDAC Technologies Corporation
I picked up a few more shares today at $4.78. I wanted more but only got a small fill.
Mike
I added some EDAC shares this morning. Volume so far this morning is huge at 46,500.
Mike
Mike...looking good for EDAC. Soon we'll be over $5 and garnering more attention. I still can't believe more people from VMC aren't attracted to this stock.
Hey, maybe soon you won't have to talk to yourself on this board!
Funny thing is that when it is $8+ is when everyone will jump on the stock. Strange how that works. That's alright. I'm thinking I'll be holding for $10+ or more so they can push it up and be my exit strategy. From $3.75 (through even today) I've bought so much that I'd be embarrased to admit it out loud.
This is excellent news! EDAC has added $14.3M in additional business so far this quarter when the $4.5M LOI is included. The new business exceeds the Q4 revenue of roughly $11M. EDAC didn't report backlog at the end of the year. Q3 backlog was $31.0M and backlog at 2/28/2007 was $32.4M. I think that the revenue in Q1 is going to exceed Q4 and there will still be a backlog in excess of $36M.
This stock should get a nice pop tomorrow.
Mike
EDAC Technologies Corporation Announces Receipt of New Orders
Wednesday March 21, 6:33 pm ET
FARMINGTON, Conn., March 21 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported that its Precision Aerospace product line has received $9.8 million in new orders to date in the first quarter of 2007. Additionally, the Company announced it has received a letter of intent from a customer to purchase approximately $4.5 million of jet engine parts. This order will be added to the Company's backlog when the related purchase orders are issued and accepted.
EDAC currently has budgeted over $3.7 million primarily for additional machinery and equipment scheduled for delivery in 2007, to support its Precision Aerospace product line. Dominick A. Pagano, President and Chief Executive Officer, commented, "We are pleased for the continued validation of our commitment to the aerospace product line. We look forward to a sustained growth."
The new sales orders will be delivered according to EDAC's customers' schedules. The parts covered under the letter of intent are scheduled for delivery from 2007 through 2009.
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.
Contact:
Glenn Purple
EDAC Technologies Corporation
860-679-7418
--------------------------------------------------------------------------------
Source: EDAC Technologies Corporation
The thing is that at $4.94 it is still cheap if things work out as they have planned. $9.49 would be more appropriate. I'm just glad to see volume strong. In these low-float/low-volume stocks volume is everything IMO. Once it grows then it allows anyone who wants out an opportunity to exit without driving the stock price down.
NOTE: I watched level II on it today (part of my screen). It was nice to see the bid at $4.82 and ask at $4.85 for hours. The seller wasn't looking to dump. That is the best because it forces the price upward.
Dave
Closed at $4.94 up $0.19 for the day. Yipee!!!
Mike
Today is another nice day for EDAC shareholders. We are up $0.10 to $4.85 with the HOD at $4.90.
Mike
After reviewing EDAC's Q4 results, GM data, and backlog numbers, I think that Q1 will result in earnings in the $0.15 to $0.20 range. I think that higher is quite possible but I don't want to set my expectations too high. In Q1 of 2006 they only made $0.06/share on revenue of $9.6M so they have an easy comparison for the bottom line and likely the top line. EDAC closed today at $4.31 so it looks undervalued to me with earnings of $0.14. I think EDAC could be much higher later in the year with continued improved earnings. It will be interesting to see what tomorrow brings. I'm not sure what to expect in today's market environment.
Mike
Mike...nice board here....I saw EDAC being discussed on the VMC board in late January. Couldn't believe the stock wasn't higher (at $3.75 then). I have to admit that I did my fair share of mopping up what was available then. I've added on to it (including last week) in the lower $4 range when it dipped.
I see it as nice solid small company. Would be worth $7-9 if they continue doing what they are doing (and get off the OTC BB). Just patience needed.
For Q, I could nitpick. Margins were ok, but would have liked to see them around 18%. The 4th Q tax rate was lower than normal so that helped numbers a bit. But it was good to see administrative costs at only $700K. I see margins improving as the revenue goes up some more. I can easily see the $11M being duplicated for 1rst Q. The increased backlog (and desire to buy more equipment for future growth) indicates that management sees strong possibilities.
I think we've got a winner here. I'd love a KRSL thing to occur, but in this current market I'd just love a stock that holds it's value!
Dave
Here is some historical backlog information:
Date Amount
02/28/2007 $32.4M
09/30/2006 $31.0M
07/01/2006 $28.3M
04/01/2006 $25.0M
12/31/2005 $21.7M
10/01/2005 $22.1M
07/02/2005 $21.7M
04/02/2005 $20.6M
01/01/2005 $18.3M
Here is a table showing revenue and GM by quarter:
Quarter Revenue GM
Q4'06 $10.975M 16.0%
Q3'06 $8.178M 13.5%
Q2'06 $9.581M 18.4%
Q1'06 $9.596M 16.9%
Q4'05 $9.442M 17.1%
Q3'05 $8.688M 17.0%
Q2'05 $8.899M 17.3%
Q1'05 $9.596M 16.8%
We just had excellent Q4 earnings of $0.14 which came in at the high end of my estimate. Here is the PR:
--------------------------
EDAC Technologies Reports Fourth Quarter Results With Operating Income Reaching a 5-Year High
Monday March 5, 6:45 pm ET
FARMINGTON, Conn., March 5 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of jet engine components, tools, fixtures, injection molds and spindles, today reported results for the fourth quarter and the fiscal year 2006.
Sales for the fourth quarter of 2006 were $10,975,000 and net income was $677,000 or $0.14 per diluted share, versus sales of $9,442,000 and net income of $631,000 or $0.13 per diluted share for the fourth quarter of 2005. Income from operations for the quarter increased from $841,000 in 2005 to $1,057,000 in 2006.
For the fiscal year 2006, sales were $38,329,000 and net income was $1,554,000 or $0.32 per diluted share versus sales of $35,045,000 and net income of $3,299,000 or $0.69 per diluted share for the fiscal year 2005. Income from operations increased to $2,888,000 in 2006 from $2,800,000 in 2005. Fiscal year 2005 benefited from an income tax credit of approximately $342,000 and debt forgiveness of $750,000. In addition, selling, general and administrative expenses for the 2006 fiscal year included $280,000 of nonrecurring costs which consisted primarily of plant reconditioning and moving expenses, professional fees and special bonus. Had these expenses not been incurred, income from operations would have been $3,168,000 in 2006 compared to $2,800,000 in 2005.
Commenting on the quarter and fiscal year, Dominick A. Pagano, President and Chief Executive Officer, said, "We are very pleased with the strong results. This year is our fourth year of improving sales and operating profit. For the fourth quarter we posted our highest quarterly operating income in the past five years. Our Precision Aerospace product line continues to strengthen. Sales for this product line increased by $6.7 million or 72%, from $9.3 million in 2005 to $16.0 million in 2006. Total company backlog increased by $10.7 million from $21.7 million at the end of the fiscal 2005 to $32.4 million at February 28, 2007. Our inventories at year-end increased to support the higher backlog."
"We believe that 2007 will be another positive year and have planned on investing $3.7 million primarily in machinery and equipment to increase capacity in the Precision Aerospace product line."
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.
Contact:
Glenn L. Purple
Vice President-Finance
860 677-2603
EDAC TECHNOLOGIES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
For the three months ended For the twelve months ended
December 30, December 31, December 30, December 31,
2006 2005 2006 2005
Sales $10,974,503 $9,441,833 $38,329,212 $35,045,033
Cost of sales 9,213,682 7,829,528 32,072,085 29,075,091
Gross profit 1,760,821 1,612,305 6,257,127 5,969,942
Selling, general
and administrative
expenses 703,472 771,740 3,369,020 3,170,002
Income from
operations 1,057,349 840,565 2,888,107 2,799,940
Non-operating
income (expense):
Interest (178,783) (141,979) (664,327) (619,452)
Gain on debt
forgiveness - - - 750,000
Other 17,205 9,914 90,846 26,299
Income before
income taxes 895,771 708,500 2,314,626 2,956,787
Provision for (Benefit
from) income taxes 219,238 77,959 760,238 (342,041)
Net income $676,533 $630,541 $1,554,388 $3,298,828
Income per
common share data:
Basic $0.15 $0.14 $0.34 $0.74
Diluted $0.14 $0.13 $0.32 $0.69
Weighted average
shares outstanding:
Basic 4,522,437 4,504,270 4,515,757 4,487,080
Diluted 4,777,398 4,785,643 4,795,564 4,772,666
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
December 30, December 31,
2006 2005
ASSETS
CURRENT ASSETS:
Cash $925,197 $2,468,964
Accounts receivable (net of allowance
for doubtful accounts of $110,000 as of
December 30, 2006 and $184,000 as of
December 31, 2005) 7,331,226 5,587,305
Inventories, net 8,234,866 4,296,839
Prepaid expenses and other current assets 56,438 81,210
Refundable income taxes 140,650 54,984
Deferred income taxes 211,394 769,864
Total current assets 16,899,771 13,259,166
PROPERTY, PLANT AND EQUIPMENT, at cost:
Land 634,692 632,821
Buildings and improvements 6,424,382 6,316,490
Machinery and equipment 23,587,670 20,879,703
30,646,744 27,829,014
Less: accumulated depreciation 20,315,938 18,861,156
10,330,806 8,967,858
DEFERRED INCOME TAXES 1,248,786 1,440,989
OTHER ASSETS 86,001 108,833
TOTAL ASSETS $28,565,364 $23,776,846
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Revolving line of credit $1,000,000 $-
Current portion of long-term debt 1,895,436 1,404,053
Trade accounts payable 4,806,090 2,427,866
Employee compensation and amounts withheld 1,511,820 1,397,897
Accrued expenses 355,415 706,861
Customer advances 120,767 284,671
Total current liabilities 9,689,528 6,221,348
LONG-TERM DEBT, less current portion 8,081,720 7,791,530
OTHER LONG-TERM LIABILITIES 163,981 965,823
SHAREHOLDERS' EQUITY:
Common stock, par value $.0025 per Share;
10,000,000 shares authorized;
issued and outstanding--
4,526,437 on December 30, 2006 and
4,504,270 on December 31, 2005 11,316 11,261
Additional paid-in capital 9,530,688 9,452,525
Retained earnings 2,571,172 1,016,784
12,113,176 10,480,570
Less: accumulated other comprehensive loss 1,483,041 1,682,425
Total shareholders' equity 10,630,135 8,798,145
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $28,565,364 $23,776,846
Here is a post about EDAC job openings:
http://www.investorshub.com/boards/read_msg.asp?message_id=17597197
Mike
We had an excellent close today at $4.25. I sold a few shares today but am still holding a big size position. I'm hoping for an outstanding quarterly report. I wonder if someone knows something. There isn't any news that I can find.
Mike
They have a 2 or 3 day window to disclose their activity.
Maybe they did an average over 2 days. He has been selling all of 06, some just about every month. He is doing it the right way, just a little at a time.
There was a filing today indicating that John Moses sold 5K shares today at $3.85. What is strange about that is that the low of the day so far is $3.87. Either the date is wrong or the amount is wrong.
Mike
Here is a chart that shows revenue and GM by quarter for the past 7 quarters. The big question is what kind of GM will we get with $11M in revenue.
Quarter Revenue GM
Q3'06 $8.178M 13.5%
Q2'06 $9.581M 18.4%
Q1'06 $9.596M 16.9%
Q4'05 $9.442M 17.1%
Q3'05 $8.688M 17.0%
Q2'05 $8.899M 17.3%
Q1'05 $9.596M 16.8%
EDAC ($3.75). I loaded up this morning and then alerted my friends to do the same. I estimate they will report EPS $0.15 for Q4 on 22.5% gross margin and would put the likely range between $0.12 and $0.18.
I think the additional capacity put in place Q1-Q3 of 2006 is paying off and will result in quarterly results hopefully as good or better than the $11M for Q4 of 2006.
"Additionally, over the first three quarters we added over $3 million in machinery & equipment primarily to expand capacity for this product line. We are currently placing orders for machinery to add additional capacity to support continued growth in the Aerospace product line in 2007."
Nice finish - Rsi(2) flattened out but, all other indicators are up.
Nice day today! We ended out up $0.35 to $3.75. The bid/ask currently sits at $3.63 X $3.80! Yipee!
Mike
The chart looks good, may have another .25 or so left in it for this run. Overall it Looks like a slow steady riser.
Yes, it doesn't trade that much although the volume in the past two days has been quite good. Today we have traded 25,837 shares so far. Yesterday, 19,600 shares traded. We have traded as high as $3.55 today. The bid/ask is currently at $3.50 X $3.60.
Mike
EDAC is continuing to grow. They are currently hiring. Here is their employment page:
http://www.edactechnologies.com/hr/
Mike
The only negative which keeps me from getting back into EDAC is Moses. 400,000 + shares is a big drag unless he is willing to bleed it out slowly or lump sum it to some long term holder.
I am estimating Q4 earnings of $0.10 to $15 per share based upon the PR from earlier today that indicated that revenue for Q4 was $11M. This makes them quite undervalued. I think EDAC could trade at over $4 or $5 per share after the Q4 earnings are released depending upon where the earnings finally end out. Here is my estimate:
I assumed GM of 17% although the GM could go much higher. My estimate of 17% is very conservative.
I assumed SG&A of 900K, interest expense of 160K, and other income of 15K. Also, I assumed a tax rate of 38%. When I do this I come up with EPS of $0.107/share.
The two biggest factors that affect this estimate include:
- GM could be much higher which is the main reason why my earnings estimate goes as high as $0.15.
- There will be some one time charges related to the terminated acquisition. So, where SG&A ends out is somewhat of a wildcard.
Mike
EDAC Technologies Corporation Reports Highest Quarterly Sales in Over Five Years
Wednesday January 10, 12:16 pm ET
FARMINGTON, Conn., Jan. 10 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported that their sales for the 4th quarter of 2006 of $11 million, were the Company's highest quarterly sales since the second quarter of 2001. Dominick A. Pagano, President and Chief Executive Officer, commented, "The Precision Aerospace and Apex Machine Tool product lines showed strong improvement over the third quarter. In particular, the Precision Aerospace product line benefited from the commencement of shipments on large orders that had been received in the beginning of the year for which there was significantly long lead time on substantial raw material purchases. Material for these orders was received in the third quarter. Additionally, over the first three quarters we added over $3 million in machinery & equipment primarily to expand capacity for this product line. We are currently placing orders for machinery to add additional capacity to support continued growth in the Aerospace product line in 2007."
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.
Contact:
Glenn Purple
EDAC Technologies Corporation
860-679-7418
--------------------------------------------------------------------------------
Source: EDAC Technologies Corporation
EDAC Technologies Reports Third Quarter Results
Tuesday October 31, 2:40 pm ET
FARMINGTON, Conn., Oct. 31 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation (OTC Bulletin Board: EDAC.OB - News), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, today reported results for the third quarter of 2006.
Sales for the third quarter of 2006 were $8,178,000 and net income was $171,000 or $0.04 per diluted share, versus sales of $8,688,000 and net income of $390,000 or $0.08 per diluted share for the third quarter of 2005.
For the nine months ended September 30, 2006, sales were $27,355,000 and net income was $878,000 or $0.18 per diluted share versus sales of $25,603,000 and net income of $2,668,000 or $0.56 per diluted share for the nine months ended October 1, 2005. The nine months ended October 1, 2005 included an income tax benefit of $900,000 and debt forgiveness of $750,000. In addition, selling, general and administrative expenses for the nine months ended September 30, 2006 include $342,000 of costs which were not incurred in the nine months ended October 1, 2005 and consisted primarily of plant reconditioning and moving expenses, professional fees and bonuses.
Dominick A. Pagano, President and Chief Executive Officer, said, "While sales for the Precision Aerospace and Spindle product lines met or exceeded our expectations, the third quarter reduction in income was a direct result of the significant drop of sales to a major consumer products customer in the Apex Machine Tool product line. Based on this customer's lower forecasted requirements for 2006, we generated new clients to replace approximately 33% of their sales, but the actual reduction turned out to be nearly 60%. We anticipate that as a result of a planned diversification initiative, demand from new Apex customers will grow in the fourth quarter and beyond. At September 30, 2006 the Apex backlog was $6.2 million compared to $4.1 million at the end of the second quarter."
"Sales increased $4,282,000 or 64% for the nine months ended September 30, 2006 compared to the nine months ended October 1, 2005 for the Precision Aerospace product line. Sales backlog for the Precision Aerospace product line has increased from $15.7 million at December 31, 2005 to $24.5 million at the end of the third quarter. For the 4th quarter of 2006, we expect continued strengthening in the Precision Aerospace product line. Year to date we have invested over $3 million in new machinery and equipment, including $1.2 million during the third quarter, to further increase the capacity and productivity of our Precision Aerospace product line. We plan to continue expanding our aerospace business and pursuing other opportunities that will strengthen EDAC for the long term."
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.
Cautionary Statement Regarding Forward Looking Statements -- This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as "plans," seeks," "projects," "expects," "believes," "may," "anticipates," "estimates," "should," and similar expressions to identify these forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company's beliefs and assumptions. There are a number of important factors that may affect the Company's actual performance and results and the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to predict. These important factors include, without limitation, factors which could affect demand for the Company's products and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in which the Company competes; competition from the Company's competitors; and the Company's ability to enter into satisfactory financing arrangements. These and other factors are described in the Company's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's expectations and beliefs as of the date of this release. The Company anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or intention to do so.
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED
For the three months ended For the nine months ended
September 30, October 1, September 30, October 1,
2006 2005 2006 2005
Sales $8,178,356 $8,687,688 $27,354,709 $25,603,200
Cost of sales 7,071,446 7,213,060 22,858,403 21,245,563
Gross profit 1,106,910 1,474,628 4,496,306 4,357,637
Selling, general
and administrative
expenses 681,405 825,480 2,665,548 2,398,262
Income from
operations 425,505 649,148 1,830,758 1,959,375
Non-operating income (expense):
Interest expense (167,069) (156,082) (485,544) (477,473)
Gain on debt
forgiveness - - - 750,000
Other income 17,619 2,739 73,641 16,385
Income before income
taxes 276,055 495,805 1,418,855 2,248,287
Provision for (benefit
from) income taxes 105,000 106,000 541,000 (420,000)
Net income $171,055 $389,805 $877,855 $2,668,287
Income per common share data:
Basic income per share $0.04 $0.09 $0.19 $0.60
Diluted income per
share $0.04 $0.08 $0.18 $0.56
Weighted average shares outstanding:
Basic 4,518,437 4,503,920 4,513,354 4,481,923
Diluted 4,784,457 4,822,287 4,791,205 4,773,006
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (Audited)
September 30, December 31,
2006 2005
ASSETS
CURRENT ASSETS:
Cash $1,786,930 $2,468,964
Accounts receivable 5,714,351 5,587,305
Inventories, net 7,043,119 4,296,839
Prepaid expenses and other current assets 184,151 81,210
Refundable income taxes - 54,984
Deferred income taxes 677,864 769,864
Total current assets 15,406,415 13,259,166
PROPERTY, PLANT AND EQUIPMENT 30,662,509 27,829,014
Less: accumulated depreciation 20,114,674 18,861,156
10,547,835 8,967,858
DEFERRED INCOME TAXES 1,440,989 1,440,989
OTHER ASSETS 93,456 108,833
TOTAL ASSETS $27,488,695 $23,776,846
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt $ 1,679,018 $ 1,404,053
Trade accounts payable 5,695,222 2,427,866
Employee compensation and amounts withheld 1,408,935 1,397,897
Accrued expenses 308,802 706,861
Customer advances 63,337 284,671
Total current liabilities 9,155,314 6,221,348
LONG-TERM DEBT, less current portion 7,653,813 7,791,530
OTHER LONG-TERM LIABILITIES 965,823 965,823
SHAREHOLDERS' EQUITY:
Common stock 11,296 11,261
Additional paid-in capital 9,490,235 9,452,525
Retained earnings 1,894,639 1,016,784
Accumulated other comprehensive loss (1,682,425) (1,682,425)
Total shareholders' equity 9,713,745 8,798,145
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $27,488,695 $23,776,846
Contact:
Glenn L. Purple
Vice President-Finance
860 677-2603
--------------------------------------------------------------------------------
Source: EDAC Technologies Corporation
http://biz.yahoo.com/prnews/061031/netu047.html?.v=28
Mike
EDAC TECHNOLOGIES REPORTS INCREASES IN SALES AND OPERATING PROFIT
FARMINGTON, Conn., July 31, 2006 – EDAC Technologies Corporation (OTC Bulletin Board:
EDAC.OB), a designer and manufacturer of tools, fixtures, jet engine components, injection molds and
spindles, today reported results for the second quarter of 2006.
Sales for the second quarter of 2006 were $9,581,000 and net income was $414,000 or $0.09 per diluted
share, versus sales of $8,899,000 and net income of $1,316,000 or $0.27 per diluted share for the second
quarter of 2005. The second quarter of 2005 benefited from an income tax benefit of $787,000. Income
from operations for the quarter increased to $794,000 in 2006 from $690,000 in 2005.
For the six months ended July 1, 2006, sales were $19,176,000 and net income was $707,000 or $0.15 per
diluted share versus sales of $16,916,000 and net income of $2,278,000 or $0.48 per diluted share for the
six months ended July 2, 2005. The six months ended July 2, 2005 included an income tax benefit of
$526,000 and debt forgiveness of $750,000. In addition, selling, general and administrative expenses for
the six months ended July 1, 2006 include $342,000 of costs which were not incurred in the six months
ended July 2, 2005 and consisted primarily of plant reconditioning and moving expenses, professional
fees and bonuses.
Dominick A. Pagano, President and Chief Executive Officer, said, “Our Precision Aerospace product line
is expanding according to plan. Sales for the Precision Aerospace product line increased $2,920,000 or
66% for the six months ended July 1, 2006 compared to the six months ended July 2, 2005. Sales backlog
for the Precision Aerospace product line has increased $6.9 million since the beginning of the year
driving our total sales backlog from $21.7 million at December 31, 2005 to $28.3 million at the end of the
second quarter. For the 2nd half of 2006, we expect continued strength in the Precision Aerospace
product line offsetting lower sales in the Apex product line. Year to date we have invested over $1.8
million in machinery and equipment and have made commitments for an additional $1.1 million of
machinery to be delivered in the third quarter. We plan to continue expanding our aerospace business and
pursuing other opportunities that will strengthen EDAC for the long term.”
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design
and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling,
equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii)
high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision
spindles, which are an integral part of numerous machine tools found in virtually every manufacturing
environment.
Cautionary Statement Regarding Forward Looking Statements - This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. The Company uses words such as “plans,” seeks,”
“projects,” “expects,” “believes,” “may,” “anticipates,” “estimates,” “should,” and similar expressions to identify these
forward looking statements. These statements are subject to risks and uncertainties and are based upon the Company’s beliefs
and assumptions. There are a number of important factors that may affect the Company’s actual performance and results and
the accuracy of its forward-looking statements, many of which are beyond the control of the Company and are difficult to
predict. These important factors include, without limitation, factors which could affect demand for the Company's products
and services such as general economic conditions and economic conditions in the aerospace industry and the other industries in
which the Company competes; competition from the Company's competitors; and the Company’s ability to enter into
satisfactory financing arrangements. These and other factors are described in the Company’s annual and quarterly reports filed
from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this
press release represent the Company’s expectations and beliefs as of the date of this release. The Company anticipates that
subsequent events and developments may cause these expectations and beliefs to change. However, while the Company may
elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation or
intention to do so.
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
UNAUDITED
For the three months ended For the six months ended
July 1, July 2, July 1, July 2,
2006 2005 2006 2005
Sales $ 9,580,774 $ 8,899,338 $ 19,176,353 $ 16,915,512
Cost of sales 7,816,023 7,363,611 15,786,957 14,032,503
Gross profit 1,764,751 1,535,727 3,389,396 2,883,009
Selling, general and administrative
expenses 970,278 845,891 1,984,143
1,572,782
Income from operations 794,473 689,836 1,405,253 1,310,227
Non-operating income (expense):
Interest expense (165,076) (161,056) (318,475) (321,391)
Gain on debt forgiveness -
-
-
750,000
Other income 41,634 - 56,022 13,646
Income before income taxes 671,031 528,780 1,142,800 1,752,482
Provision for (benefit from) income
taxes 257,000
(787,000)
436,000 (526,000)
Net income $ 414,031 $ 1,315,780 $ 706,800 $ 2,278,482
Income per common share data:
Basic income per share $0.09 $0.29 $0.16 $0.51
Diluted income per share $0.09 $0.27 $0.15 $0.48
Weighted average shares
outstanding:
Basic 4,515,104 4,494,870 4,511,175 4,477,037
Diluted 4,800,896 4,791,243 4,796,109 4,745,207
EDAC TECHNOLOGIES CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (Audited)
July 1, December 31,
2006 2005
ASSETS
CURRENT ASSETS:
Cash $ 1,298,358 $ 2,468,964
Accounts receivable 6,752,311 5,587,305
Inventories, net 4,223,000 4,296,839
Prepaid expenses and other current assets 223,666 81,210
Refundable income taxes 54,984 54,984
Deferred income taxes 695,864 769,864
Total current assets 13,248,183 13,259,166
PROPERTY, PLANT AND EQUIPMENT 29,461,561 27,829,014
Less: accumulated depreciation 19,625,944 18,861,156
9,835,617 8,967,858
DEFERRED INCOME TAXES 1,440,989 1,440,989
OTHER ASSETS 97,415 108,833
TOTAL ASSETS $24,622,204 $23,776,846
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt $ 1,573,719 $ 1,404,053
Trade accounts payable 2,981,258 2,427,866
Employee compensation and amounts withheld 1,391,672 1,397,897
Accrued expenses 411,866 706,861
Customer advances 61,462 284,671
Total current liabilities 6,419,977 6,221,348
LONG-TERM DEBT, less current portion 7,702,900 7,791,530
OTHER LONG-TERM LIABILITIES 965,823 965,823
SHAREHOLDERS' EQUITY:
Common stock 11,296 11,261
Additional paid-in capital 9,481,049 9,452,525
Retained earnings 1,723,584 1,016,784
Accumulated other comprehensive loss (1,682,425) (1,682,425)
Total shareholders' equity 9,533,504 8,798,145
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $24,622,204 $23,776,846
Contact:
Glenn L. Purple
Vice President-Finance
860 677-2603
http://www.edactechnologies.com/news/pre_July312006.pdf
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Company Description
Edac Technologies Corporation provides design and manufacturing services for tooling, fixtures, molds, jet engine components, and machine spindles in the United States. Its products include precision rings, and other components for jet engines, industrial spindles, and specialized machinery. The company also produces fixtures, precision gages, close tolerance plastic injection molds, molds for composite parts, and specialized machinery. In addition, the company offers design and manufacturing services for a range of industries in areas, such as special tooling, equipment and gauges, and components used in the manufacture, assembly, and inspection of jet engines. Further, it designs and repairs spindles for woodworking and automotive markets. Edac Technologies Corporation was founded in 1946 and is based in Farmington, Connecticut.
Web Site
http://www.edactechnologies.com
Historical Financial Information
Backlog - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37380683
Revenue & GM Historical Info - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37381055
Work-in-Progress - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37444309
Earnings Reports
Q2'10 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53073488
Q1'10 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49681018
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