Seneca Foods Corp (SENEA)

[zsvq1p]

The company has a good 5 yr track record....

but can they take it to $60 in the next?

[zsvq1p]

NEWs.. November 6, 2007... 2Q Earning release...

Seneca Foods Corporation reported net sales of $463,887,000 for the six months ended September 29, 2007, versus $431,665,000 for the comparable period last year. The year to date net earnings were $12,695,000 or $1.04 per diluted share, compared with $12,182,000 or $.99 per diluted share, last year. Prior year-to-date pre-tax results included other income of $1,966,000 which represented a net gain on the sale of four previously closed facilities.

Seneca Foods Corporation reported net sales of $274,445,000 for the quarter ended September 29, 2007, versus $283,324,000 for the comparable period last year. The current quarter’s net earnings were $7,301,000 or $0.60 per diluted share, compared with $8,523,000 or $0.65 per diluted share, last year. Prior year quarter pre-tax results included other income of $1,278,000 which represented a net gain on the sale of two previously closed facilities.

The operating results for the three and six months ended September 29, 2007 include activity related to the Signature Fruit Company, LLC acquisition completed in August, 2006.

Seneca Foods Corporation is primarily a fruit and vegetable processing company with manufacturing facilities located throughout the United States. Its products are sold under the Libby’sÒ, Aunt Nellie’s Farm KitchenÒ, Stokely’sÒ, READÒ, and SenecaÒ labels as well as through the private label and industrial markets. In addition, under an alliance with General Mills Operations, Inc., a successor to the Pillsbury Company and a subsidiary of General Mills, Inc., Seneca produces canned and frozen vegetables, which are sold by General Mills Operations, Inc. under the Green GiantÒ label. Seneca’s common stock is traded on the Nasdaq Global Stock Market under the symbols “SENEA” and “SENEB”.

[zsvq1p]

Humm? they appear to be more profitable and beat yr on yr

and timing could be off? week or so ($274mil/12week=$22 mil) with grow season maybe? because 6 month vs 6 month rev growth is 7.5%...

I stay long here..

the street must not like this stock as not liquid.

[zsvq1p]

No chance to review just yet... was just making quick comment.. thanks for input.. will look more in detail

[SSKILLZ1]

No the real problem here is sales. Sales shouldn't have dropped Y/Y they should have rose y/y Earnings were fine considering the level of sales, the main problem was sales, which should have been higher. Sales were almost 10 million Lower then last year and remember this year even had an extra month of the signature food acquisition which makes it even worse. Have to see the 10q to get a real idea what happened here, but that looks kind of troublesome, Revenues in decline isn't a situation I want own when the had an acquisition in these number for and extra month this years and sales are still down. Yikes. Now from a balance sheet perspective it is cheap and trades under book so doubt there is tremendous downside here. But Upside seems limited at best, and downside seems possible hence I sold. Just my opinion and I could always be wrong though.

[zsvq1p]

I think food sector is being hit hard by COGS increases faster then they can raise price. Freight charges.. corn, soy all up... I think it will take a Q or so for things to catch up... then, as these commodities go down.. wham! large Earnings.. cause price will hold.. so how to beat the crowd?

I'm long here even though I think we have some down side..

[SSKILLZ1]

SENEA out with earnings and yet another disappointment. Earned .60 on only 272 million in revs out of my shares near breakeven at $26.52. Starting to wonder if the food sector isn't a good place to be. All is just my opinion, and I could always be wrong though.

[SSKILLZ1]

My guesses and that all it is for SENEA

-I expect Sales of 305-315 Million

-GM Around 11.75%-12.25%

My EPS guess and that's all it is at this point is .78-94. My best estimate would be around .84-.85 with around 310 million in sales. Granted I could be completely lost and have no clue. All is just my opinion, and I will likely be wrong. LOL.

[zsvq1p]

Last year I noticed 11/3
and looked again real quick and noticed first full week... yep next week more likely

any predicts?

[SSKILLZ1]

I would expect to see the 10q sometime next week, Like the 8th of the month. Just my opinion

[zsvq1p]

Might get 10Q tomorrow...

[zsvq1p]

Somebody going short to 16 day cover. short ratio 14

http://www.nasdaqtrader.com/asp/short_interest_resp.asp?searchby=Detail&IssueID=4662

[zsvq1p]

You can buy the product online

http://consumer.senecafoods.com/store/index.html

an FYI.. source et
http://www.geocities.com/syte.storage/Senea10_12_07.pdf

[SSKILLZ1]

I Started buying today for what it's worth. I think it is very attractive in my opinion.

[MikeDDKing]

I've been in SENEA for a little more than a month. It is one of my favorite food stocks.

Mike

[zsvq1p]

Will fat folks eat more vegetables into the future?


http://edis.ifas.ufl.edu/pdffiles/FE/FE68100.pdf