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Does anybody have a 10 bagger-to-English dictionary we can borrow?
Please make it a sticky so that we can figure out what he's talking about then see if anybody cares.
Thanks!
One word, dude.......................................
DECAF
Value Microcap Indexes (As Of 2/27/12)
Daily Performance
Value Microcap Index: -0.47%
Value Microcap Index Rebalanced: -0.21%
Overall Performance
Value Microcap Index: +18.19%
Value Microcap Index Rebalanced: +18.79%
Your problem is that you are selling and mentioning the stocks that others continue to pump with constant one liners and a vengence.. ..
As to your bear call,, that you will have to wear,, as Lentimen,, you put a tone to the market that makes all question thier own decisions.. soon yours as his will be forgotem and if we have a crash all will thank you because they listened to you and got ot 15 min before the S**t hit the fan.. Each time in the last year that I have followed it,, it seemed to cost me money but,, it was my decision to make even though you might of been the cause of the thought and follow thru.... But when I acted ,, I did so because what you posted at the time made sense to me..
When you have opinions and are specific others try to make themselves look good by making you look bad.. It's so easy..
VMC Managed Index (As Of 2/27/12)
Daily Performance
+0.89%
YTD Performance
+21.30% (Beat Levels of 2012)
Overall Performance
+83.91% (Best Levels Overall)
SQQQ. new all time low, glad I did not die on that hill.
A little touchey I guess. In a bad mood for personal reasons, and I don't feel well. So I guess I snapped. Normally I can take it 99/100 Days. So take today as just a exception rather then the rule.
As for SNKI I was wrong. yes they earned .62, but if they didn't have the acquisition costs they probably would of earned much more then .62. So I can't take any bows on that one. My call was just bad. I'm not one that believe you should ever play for a buyout. Do I think I was $5 wrong. Nope. But do I think I was $2 wrong yes I was. All is just my opinion, and I could always be wrong though.
Whoa big fella!! I thought a little needling was par for the course around here. And my SNKI post was a compliment...
I'll not engage in any more banter that might elicit another squeal...sorry and I continue to majorly appreciate the work you do on all our boards.
SSKILLZ1, don't let 'em get to ya. I should probably be burned at the stake for some of the stuff I've brought to this board over the years.
LOL! Wear the Army of haters as a badge of honor.
Hank - ESTE, a little protection never hurts as they say over there at Planned Parenthood.
It's been a nice ride so far.
Very funny. I'm starting to build up a fan club, only problem is they are a fan club of detractors. They spend there time wasting every second of there lives to make me look like and idiot. Although I'm sure some smart individual is going to come and say I don't have to look too hard, so I will bury the lead for that person. All I know is the VMC Managed is up 20% this year, and almost every stock this year I recommended has been sold at 20-30-40% premiums in a month or less, yet all I hear about is whether i purchased a stock too soon, sold it too soon, etc. Didn't do this right, didn't do that right. I bet you if we critique anyone here to the standard that everyone is evaluating me on, we all be failures. On that note. Keep pounding away if it makes everyone feel better. I'm sure everybody will soon be convinced that I never ever had a winning call. Granted that is far from correct, but who needs correct, at this point I guess. All is just my opinion, and I could always be wrong though.
You were right on SNKI; $.62 vs $.63; feels GREAT, doesn't it??
B: Swank, Inc. Reports Increased Net Sales and Net Income for the Twelve Months
Ended December 31, 2011 ( Marketwire )
NEW YORK, NY, Feb 27, 2012 (MARKETWIRE via COMTEX) --
John Tulin, Chairman of the Board and Chief Executive Officer of
SWANK, INC. (PINKSHEETS: SNKI) ("Swank"), today reported financial
results for the Company's fourth quarter and twelve months ended
December 31, 2011.
Net income for the fourth quarter ended December 31, 2011 was
$3,439,000 or $.62 per diluted share compared to net income of
$3,563,000 or $.63 per diluted share for the corresponding quarter in
2010. For the year ended December 31, 2011, net income was $5,938,000
or $1.06 per diluted share compared to $4,174,000 or $.74 per diluted
share for fiscal 2010. Net sales for the quarter increased 4.3% to
$46,959,000 and, for the year, increased 4.5% to $138,620,000, in
both cases as compared to the same periods in 2010.
Income before taxes for the quarter was $5,600,000 compared to
$5,785,000 for 2010's fourth quarter and for the year, was $9,799,000
compared to $6,086,000 last year. Income before taxes for 2010
includes a pretax charge recorded during that year's first quarter of
$1,492,000 associated with inventory disposal and other costs
incurred by us in connection with the termination of our relationship
with Style 365, LLC ("Style 365"), a marketer of women's belts and
accessories.
Commenting on the results for the quarter and year, Mr. Tulin said,
"We are very pleased with our 2011 results for both the quarter and
12-month periods, particularly that we were able to increase net
income for the year by 42% while increasing net sales by 4.5% in a
still uncertain economic environment. Net sales of our personal
leather goods and department store belt collections increased during
2011 due to strong demand for our products at many retailers. Our
attractive merchandise collections and strong portfolio of designer
brands continued to drive sales growth of our core products during
2011 through a variety of retail channels."
Mr. Tulin continued, "Our strong balance sheet continues to provide
us with the flexibility to quickly take advantage of sales
opportunities as they develop. We look forward to capitalizing on a
number of new opportunities for this Spring as we work closely with
our retail partners to bring additional new merchandise concepts to
market."
Results for the Fourth Quarter ended December 31, 2011
Net income for the fourth quarter ended December 31, 2011 was
$3,439,000 or $.62 per diluted share compared to $3,563,000 or $.63
per diluted share for the corresponding quarter in 2010. Income
before taxes for the quarter was $5,600,000 compared to $5,785,000
for the same period in 2010.
Net sales during the quarter increased 4.3% to $46,959,000 compared
to $45,032,000 for the corresponding period in 2010. The increase
during the quarter was principally due to higher shipments of our
personal leather goods merchandise and a reduction in dilutive
allowances including reserves for customer returns and in-store
markdowns, offset in part by a decrease in shipments for belts and
gift accessories. Shipments increased for personal leather goods due
to additional orders received for our luxury collections as well as
higher volume at certain of our department store customers. The
decrease in belt shipments was due to substantial orders received
during last year's fourth quarter from certain wholesale club
accounts which did not recur in 2011. The decrease in dilutive
allowances was mainly associated with a change in sales mix and a
reduction in estimated customer returns and in-store markdown
expenditures during the quarter as compared to the same time last
year.
Gross profit for the quarter increased $1,360,000 or 8.8% and, as a
percentage of net sales, increased to 35.7% compared to 34.2%, in
both cases as compared to last year. The increase in gross profit
during the quarter was due to higher net sales as well as reductions
in certain inventory-related expenses, including merchandise
markdowns associated with out of line inventory, offset partially by
a reduction in our gross margin, mainly for our jewelry and personal
leather goods merchandise, and increased product royalty expense.
Selling and administrative expenses for the quarter ended December
31, 2011 increased $1,549,000 or 16.3% to $11,042,000 compared to
$9,493,000 for last year's fourth quarter. As a percentage of net
sales, selling and administrative expenses were 23.5% and 21.1% for
the quarters ended December 31, 2011 and 2010 respectively. The
increase in selling and administrative expenses was mainly due to
increases in professional fees associated with the
previously-announced transaction with Randa as well as higher
variable selling costs and compensation and benefits expenses.
Net interest expense for the quarter was $130,000 compared to
$134,000 last year. Average borrowings during the quarter decreased
slightly relative to the fourth quarter of 2010.
Results for the Year Ended December 31, 2011
Net income for the year ended December 31, 2011 was $5,938,000 or
$1.06 per diluted share compared to net income of $4,174,000 or $.74
per diluted share last year. Income before taxes was $9,799,000
compared to $6,086,000 in 2010. As previously discussed, net income
and income before taxes for 2010 reflect a pretax charge of
$1,492,000 associated with Style 365.
Net sales for the year increased 4.5% to $138,620,000 compared to
$132,702,000 last year. The increase was due to higher shipments of
our men's personal leather goods merchandise and reductions in
dilutive allowances including reserves for customer returns and
in-store markdowns, offset in part by lower shipments of our men's
belts and gift accessories. Personal leather goods shipments
increased due to higher orders during 2011 from a number of our
department and chain store customers as well as a large order for
certain of our luxury merchandise shipped during the fourth quarter.
Shipments of our belt merchandise increased to department store
customers but declined overall relative to last year due to several
orders shipped to certain wholesale club accounts during 2010. The
decrease in dilutive allowances was due to reductions in estimated
customer returns and in-store markdown expenditures during 2011 as
compared to last year.
Net sales for both 2011 and 2010 include annual adjustments recorded
during the second quarter to reflect the variance between customer
returns of prior year shipments actually received in the current year
and the allowance for customer returns which was established at the
end of the preceding fiscal year. This adjustment increased net sales
by $2,223,000 and $782,000 for the years ended December 31, 2011 and
2010, respectively. The favorable adjustments in both years resulted
from actual returns experience during the spring selling seasons
being better than anticipated compared to the respective reserves
established at the end of the previous fiscal years. The reserve
established at December 31, 2010 was substantially larger than in
previous years due to significant shipments during our fall 2010
season to certain wholesale club accounts and an unusually large
holiday gift program to a major customer, each of which are
customarily subject to season-end stock adjustments. Returns
experience overall during the spring 2011 season was much better than
expected, contributing to a larger returns adjustment relative to the
prior year.
Gross profit for the twelve months ended December 31, 2011 increased
$5,413,000 or 13.2% as compared to 2010. Gross profit expressed as a
percentage of net sales improved to 33.5% during the year compared to
30.9% in 2010. The increase in gross profit was due to higher net
sales and decreases in certain inventory control costs as well as an
improvement in gross margin percentage, all offset in part by an
increase in product royalty expense. Gross profit in 2010 reflects a
charge of $1,492,000 related to Style 365 recording during 2010's
first quarter. Exclusive of that charge, gross profit as a percentage
of net sales in 2010 would have been 1.4 percentage points higher.
As described above, we record an adjustment each year during our
second quarter to reconcile actual customer returns received during
the spring season with the reserve established at the end of the
preceding year. Those adjustments resulted in an increase in gross
profit of $1,203,000 and $547,000 for fiscal 2011 and 2010,
respectively.
Selling and administrative expenses for the twelve-month period ended
December 31, 2011 increased $1,782,000 or 5.2% compared to last year.
Selling and administrative expenses expressed as a percentage of net
sales were 26.2% and 26.0%, for 2011 and 2010, respectively. The
increase was primarily attributable to higher merchandising and
variable selling costs along with increases in professional fees
recorded mainly during the fourth quarter associated with the
previously-announced transaction with Randa. Compensation and benefit
expenses also increased during the year.
Net interest expense for the twelve-month period ended December 31,
2011 was $340,000 reflecting a decline of $82,000 or 19.4% compared
to the prior year. The decrease was due to a 28.6% decline in average
borrowings resulting from an increase in cash provided by operations
primarily during the first and fourth quarters of 2011 relative to
the corresponding periods in 2010.
Forward-Looking Statements
Certain of the preceding paragraphs contain forward-looking
statements, which are based upon current expectations and involve
certain risks and uncertainties. Under the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, readers should
note that these statements may be impacted by, and the Company's
actual performance and results may vary as a result of, a number of
factors including general economic and business conditions,
continuing sales patterns, pricing, competition, consumer
preferences, and other factors.
Swank designs and markets men's jewelry and men's and women's belts
and personal leather accessories. The Company distributes its
products to retail outlets throughout the United States and in
numerous foreign countries. These products, which are known
throughout the world, are distributed under the names "Kenneth Cole,"
"Tommy Hilfiger," "Nautica," "Geoffrey Beene," "Guess?," "Tumi,"
"Buffalo David Bitton," "Chaps," "Donald Trump," "Pierre Cardin," "US
Polo Association," and "Swank." Swank also distributes men's jewelry
and leather items to retailers under private labels.
SWANK, INC.
CONDENSED STATEMENTS OF INCOME (UNAUDITED)
FOR THE QUARTERS ENDED DECEMBER 31, 2011 AND 2010
(Dollars in thousands except share and per share data)
2011 2010
----------- -----------
Net sales $ 46,959 $ 45,032
Cost of goods sold 30,187 29,620
----------- -----------
Gross profit 16,772 15,412
Selling and administrative expenses 11,042 9,493
----------- -----------
Income from operations 5,730 5,919
Interest expense 130 134
----------- -----------
Income before income taxes 5,600 5,785
Income tax provision 2,161 2,222
----------- -----------
Net income $ 3,439 $ 3,563
----------- -----------
Share and per share information:
Basic net income per weighted average common share
outstanding $ .62 $ .63
Basic weighted average common shares outstanding 5,562,988 5,637,936
Diluted net income per weighted average common share
outstanding $ .62 $ .63
Diluted weighted average common shares outstanding 5,562,988 5,637,936
SWANK, INC.
CONDENSED STATEMENTS OF INCOME (UNAUDITED)
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 AND 2010
(Dollars in thousands except share and per share data)
---------------------------------
2011 2010
----------- -----------
Net sales $ 138,620 $ 132,702
Cost of goods sold 92,158 90,161
Costs associated with termination of Style 365
agreement - 1,492
----------- -----------
Cost of goods sold 92,158 91,653
Gross profit 46,462 41,049
Selling and administrative expenses 36,323 34,541
----------- -----------
Income from operations 10,139 6,508
Interest expense 340 422
----------- -----------
Income before income taxes 9,799 6,086
Income tax provision 3,861 1,912
----------- -----------
Net income $ 5,938 $ 4,174
----------- -----------
Share and per share information:
Basic net income per weighted average common share
outstanding $ 1.06 $ .74
Basic weighted average common shares outstanding 5,602,362 5,664,236
Diluted net income per weighted average common share
outstanding $ 1.06 $ .74
Diluted weighted average common shares outstanding 5,602,362 5,664,236
SWANK, INC.
CONDENSED BALANCE SHEETS
(Dollars in thousands except share data)
(Unaudited)
December 31, 2011 December 31, 2010
------------------ ------------------
ASSETS
Current:
Cash and cash equivalents $ 287 $ 3,235
Accounts receivable, less
allowances of $6,637 and $7,798
respectively 23,275 20,214
Inventories, net:
Work in process 930 773
Finished goods 24,084 21,848
-------- --------
25,014 22,621
Deferred taxes, current 2,101 2,713
Prepaid and other current assets 1,185 1,150
--------- ---------
Total current assets 51,862 49,933
Property, plant and equipment, net
of accumulated depreciation 975 1,132
Deferred taxes, noncurrent 2,258 2,118
Other assets 2,547 2,905
--------- ---------
Total assets $ 57,642 $ 56,088
========= =========
LIABILITIES
Current:
Note payable to bank $ 669 $ 5,287
Current portion of long-term
obligations 1,967 711
Accounts payable 4,253 4,151
Accrued employee compensation 2,564 1,748
Other current liabilities 3,483 3,916
--------- ---------
Total current liabilities 12,936 15,813
Long-term obligations 5,330 6,584
--------- ---------
Total liabilities 18,266 22,397
--------- ---------
STOCKHOLDERS' EQUITY
Preferred stock, par value $1.00:
Authorized - 300,000 shares and
1,000,000 shares, respectively - -
Common stock, par value $.10:
Authorized - 43,000,000 shares:
Issued - 6,429,095 shares 642 642
Capital in excess of par value 2,859 2,605
Retained earnings 39,368 33,430
Accumulated other comprehensive
(loss), net of tax (908) (696)
Treasury stock, at cost, 874,843 and
800,350 shares, respectively (2,585) (2,290)
--------- ---------
Total stockholders' equity 39,376 33,691
--------- ---------
Total liabilities and stockholders'
equity $ 57,642 $ 56,088
========= =========
Contact:
Jerold R. Kassner
Swank, Inc.
(508) 822-2527
SOURCE: Swank, Inc.
Copyright 2012 Marketwire, Inc., All rights reserved.
*** end of story ***
Yep I got the same impression. I have no idea who he was talking about. Just a vague general comment, then I looked at my portfolio, and I realized he was talking to me. LOL. All is just my opinion, and I could always be wrong though.
Glad that wasn't directed at anybody in particular.
lol
hweb, I will admit I was not nimble
this morning with TGE. I had to manuever around some funds to buy it, and wasn't ready till after the huge move. Thing is though, I do think they'll post around $1 for 2012, and I think with the unreal growth, we can attach a 15 PE. If the momo traders have a say, it could see $14 this week yet !
10 bagger- ESTE first stop
Anytime now. I hate stops, as market makers seem to just grab it, and then yank the stock right back up. My personal price target on the stock is $35 at this point !
FTK up 8%. Something must be up in the fracking world.
QID slides to all-time low; expen$ive in$urance for perma-bears...
wade, re TGE
The last few quarters have showed nice top & bottom line improvement vs. prior year quarters. So to expect a further quadrupling is very ambitious. And I think it's a BIG stretch to think they'll earn in their seasonally weaker June & Sept quarters what they just earned in their seasonally stronger Dec quarter. But I also don't understand why you wouldn't buy in the mid-$9's this morning if you liked TGE. I personally think you're chasing it a bit here. But if the market melt-up continues, this stock will probably keep climbing along with everything else.
ESTE.. FWIW,, I have put in stops starting @$25.00 hank
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66130170&txt2find=este
Larry was right there with me on the buys..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66127442&txt2find=este
Hweb- Here's why selling at $10.40 is early
IMO. I just looked at the June and Sept 2011 qtrs. They were $.03 and $.05 respectively. Now if the company quadrupled Dec qtr Net Income year over year, why couldn't we expect a quadrupling of the June and Sept qtrs in 2012 vs 2011 with all the addditonal crews and backlog ? Also we could have a monster Mar qtr as you said. Personally I think it will be huge, like $.50+. I think TGE will post $1.10+ in 2012, and I would give a 15 PE going forward. So I still maintain around a $15 price target.
Wade
Hweb - ESTE ($25.38 + $1.69), blasts through to a new 52-week high. The low-float maniacs may yet get ahold of this one. Only 1.23M shares in the float according to yahoo.
TGE- got in today @ $10.39
Wish I would have looked closer this morning, as the growth is unreal ! I believe that they will post $1.10+ for 2012, as they posted $.30 last Mar qtr on half the backlog and about half the crews. I would give the stock a 15 PE going forward for being one of the strongest growing O & G service stocks out there. Therefore price target of $15.50 at this point. That could even prove conservative.
Wade
Looks like HEII did .10 eps for the year.
wade & bbotcs, re TGE
We can't annualize the .18 because of the seasonality. Due to the Canadian winter season, the December & March quarters are much stronger.
http://www.reuters.com/finance/stocks/financialHighlights?symbol=TGE.OQ
That said, with the huge backlog, Q1 should be a monster with earnings of .40+/share. But then Q2 & Q3 probably more like .05-.15. Haven't been following TGE so not sure.
I do wish I had bought a bunch of shares around $9.40 after the open! Would probably start selling here at $10.40. Stock has already made a big move from $4 in October. But energy stocks are hot so maybe it'll keep on climbing.
bbotcs- TGE
I think the big question is, with the backlog at $118M, what EPS should we expect going forward for 2012. Also what PE should we attach going forward ?
re ARCI: any guesses on EPS after close today?
Hweb- TGE
What full year EPS would be your guess for 2012 ? Also do they deserve a higher PE than an oil driller ? thanks,
Wade
hweb2: TGE has hit $10 (as of 1:25 EDT). The just announced eps for last quarter is .18. Annualized that would be .72. At $10, a share, the PE would be 13.88. That is not very low, but it is relatively VERY low compared to Dawson's (DWSN) PE.
I'm tempted to add shares, but will not because I already have enough.
R59- CJES vs SGY
If you had to pick between the two, which do you like for overall risk/reward vs potential upside ?
SPIN
If looking from the chart, and the chart only. The picture looks overall positive, now there is a short-term pullback that could hit. That could easily take in back into the 1.50's and maybe the 1.40's. But if you were a believer in the fundies on this one, that would probably be and opportunity to reload. Not sure It gets much below $1.50 though as long as a negative fundamental event doesn't occurs, but that is true of any stock. Having said that I made a mistake on spin, at the very least of selling it in the .80's. Although I'm concerned still that at some point they will have to keep adding capital or cut down on growth, because of cash flow. I sold it at too low of a valuation. I will not be buying back anytime soon, as I have my concerns, and buying a stock back after you sold it and it doubles is generally not a time to buy. Doesn't mean spin can't go higher. But it is against my principles to buy something at double the price you sold it. So asking me about SPIN, is kind of probably a bad source of info. considering my track record with it at the veyr least. LOL. All is just my opinion, and I could always be wrong thought.
Here is a fact, if they do .04-.05 for Q4, that makes the stock cheap here for 2 reasons. They are one step closer to being credible when giving guidance, the p/e @ about 13, with a forward p/e of under 5.
I believe you believed selling at .80 was a good idea.
I agree you believe that.. hank
2morrowsGains: ATPG
If they could just make some good money while oil prices are up, they might be able to get out of the financial whole.
Today's news is good. Thank you for posting it.
My buy and hold position is clear, and to be clear again, based on guidance the stock is cheap.
hweb2: TGE
FINALLY, this company is producing good results, no make that GREAT results. Thank goodness the merger with Dawson didn't happen!
SPIN Sales.. If you want me to be specific I was referring to these.. As you know the $0.80's were last year as a liquid trading position rebought and sold several times.. This was a semi investment position sold when SPIN seemed to put out after corrected PR's.. But if you wish I'll be happy to take your thoughts in addition to SKILLZ1 as to where to reposition.. Thanks .. hank
02/16/12 2:10 PM EST Sell 3500 SPIN Executed @ $1.73 Details | Edit
02/16/12 2:10 PM EST Sell 500 SPIN Executed @ $1.75 Details | Edit
02/16/12 2:10 PM EST Sell 9500 SPIN Executed @ $1.75 Details | Edit
02/16/12 2:10 PM EST Sell 4000 SPIN Executed @ $1.75 Details | Edit
02/16/12 2:07 PM EST Sell 1500 SPIN Executed @ $1.75 Details | Edit
02/16/12 2:07 PM EST Sell 5000 SPIN Executed @ $1.77 Details | Edit
02/16/12 2:07 PM EST Sell 500 SPIN Executed @ $1.79 Details | Edit
02/16/12 2:06 PM EST Sell 8000 SPIN Executed @ $1.80 Details | Edit
ASTV.. $0.75 I have been been adding to recently acquired positions on this one.. Trades real screwey with wide swings in prices on small volume.. I think earnings will explode because the size of the company has reached a critical mass to earn money.. hank
As Seen On TV, Inc. Reports Record Quarterly Revenues
Fiscal 2012 Third Quarter Revenues Reach $2.6 Million, an Increase of 565 Percent; Maintains $12.2 Million in Current Assets
CLEARWATER, FL -- (MARKET WIRE) -- 02/16/12 -- As Seen On TV, Inc. (OTCQB: ASTV) (PINKSHEETS: ASTV), the parent company of TVGoods, Inc., a direct response marketing company, is pleased to report that it has filed its 10Q for its third quarter, ended December 31, 2011. The results demonstrate the Company's commercialization ramp, supported by the recent private funding of $14.3 million. As Seen On TV, Inc. will continue to execute on its aggressive growth strategy. The Company believes it has successfully developed a platform to monetize unique products through a variety of direct-to-consumer channels including direct response television, television shopping networks, retail outlets, and e-commerce marketplaces.
For the third quarter of the fiscal year 2012, revenues reached a record $2.6 million, a 565 percent increase from $392,000 in the third quarter of fiscal year 2011. The increase in revenue is primarily due to the introduction of the Living Pure 4-in-1 Heater, endorsed by Montel Williams, in November 2011. In December 2011, the Company began marketing a line of proprietary hair and beauty products under the name of Tru Hair. Gross profit margin of 46 percent was realized in the third quarter, up from a negative gross profit margin a year earlier. Operating loss for the third quarter increased $0.7 million, from $1.2mm in the third quarter of fiscal year 2011 to $1.9 million in the third quarter of fiscal year 2012. The increase in operating loss was primarily due to the introduction and ramp of media spend on the Living Pure 4-in-1 Heater. Operating loss for third quarter 2012 includes non-cash items such as shares and warrants issued for compensation and services. The Company's GAAP net income for the third quarter increased $3.2 million, from a loss of $1.0 million in the third quarter of fiscal 2011 to a profit of $2.2 million in the third quarter of fiscal 2012. The resulting GAAP EPS is $0.08, as compared to ($0.10) a year earlier. GAAP net income and EPS results from the third quarter of fiscal year 2012 include non-cash warrant revaluation and non-cash interest expense.
For the first nine months of fiscal year 2012 ended December 31, 2011, revenues were $3.4 million, a 294 percent increase from $849,000 in the first nine months of fiscal year 2011. Gross profit margin of 43 percent was realized in the first nine months ended December 31, 2011, up from a negative gross profit margin a year earlier. Operating loss for the first nine months increased $0.5 million, from $3.2mm in the first nine months of fiscal 2011 to $3.7 million in the first nine months of fiscal 2012. GAAP net loss for the first nine months increased $9.0 million, from a loss of $1.2 million in the third quarter of fiscal 2011 to a loss of $10.2 million in the third quarter of fiscal 2012. The resulting GAAP EPS is ($0.62), as compared to ($0.13) a year earlier. GAAP net loss and EPS results from the first nine months of fiscal year 2012 include non-cash warrant revaluation, loss of extinguishment of debt and non-cash interest expense.
The past few months have been very busy for As Seen On TV, Inc. The company has taken necessary steps to attract significant capital and reorganize its public company structure and image. The Company successfully raised $14.3 million through private placements with National Securities. The Company changed its name to As Seen On TV, Inc., to better reflect ongoing business strategy. The Company executed a reverse stock split to improve the profile of stock to existing and prospective investors. The Company expanded its Board of Directors by adding two experienced and independent Directors. The Company believes all these steps have positioned it to succeed over the upcoming years.
On the business front, the Company has broadened its ability to identify, advise in development and market consumer products. Chairman Kevin Harrington continues to be active in speaking engagements and participating at tradeshows that attract inventors and products for the product development team to review. In addition, As Seen On TV, Inc. launched Pitch Tank, which debuted on December 10th in Tampa, FL. The initial Pitch Tank, with very little marketing and fanfare, drew approximately 100 entrepreneurs and products owners.
As Seen On TV, Inc. continues to develop its three primary channels of sales & distribution: Direct Response Television (Infomercials), Television Shopping Networks and Retail Outlets. During the quarter, the Company debuted the Living Pure 4-in-1 Heater 30-minute infomercial featuring Montel Williams. While this winter's unseasonably warm weather has impacted sales, Living Pure enjoyed a successful launch. During the quarter ended December 31, there were several product successes on major live television shopping channels. The Company's retail strategy is in its development stage and remains a key initiative over the next several months. In addition to traditional retail, the Company has several ongoing discussions and meetings with social media and e-commerce marketplaces that will broaden its sales channels.
Pipelines for new products continue to strengthen, as the Company is continually sought after for product development and television marketing partnerships.
Steve Rogai, CEO of As Seen On TV, Inc., stated, "We are very pleased with the business progress and financial performance of the quarter. Our product development efforts over the past few quarters have turned into several successful television marketing debuts and product sales. I would like to thank our internal team for their hard work and dedication on the product side. This past quarter was also witness to the necessary steps to clean up and bolster our capital structure. I would like to thank our investors, existing and new from the National Securities private placement, for their support of our business model and strategy. Together we look forward to building a successful and long-lasting business for years to come."
Statement of Operations:
AS SEEN ON TV, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(UNAUDITED)
Three Months Ended Nine Months Ended
December 31, December 31,
-------------------------- --------------------------
2011 2010 2011 2010
------------ ------------ ------------ ------------
Revenues $ 2,606,034 $ 391,710 $ 3,350,417 $ 848,941
Cost of revenues 1,409,310 587,309 1,917,947 1,168,583
------------ ------------ ------------ ------------
Gross profit (loss) 1,196,724 (195,599) 1,432,470 (319,642)
Operating expenses:
Selling and
marketing
expenses 1,762,583 -- 1,941,886 --
General and
administrative
expenses 1,367,264 1,039,664 3,167,795 2,868,897
------------ ------------ ------------ ------------
Loss from operations (1,933,123) (1,235,263) (3,677,211) (3,188,539)
Other (income)
expense:
Warrant
revaluation (5,977,192) (278,113) (411,421) (2,121,288)
Loss of
extinguishment of
debt -- -- 2,950,513 --
Revaluation of
derivative
liability -- -- (209,351) --
Registration
rights penalty -- -- -- 75,000
Interest income -
related party -- (2,340) -- (10,440)
Other (income)
expense (8,039) 4,090 (9,465) (23,602)
Interest expenses
- notes payable 1,806,014 339 4,180,688 66,145
Interest expense -
related party 1,070 20,233 23,271 44,939
------------ ------------ ------------ ------------
(4,178,147) (255,791) 6,524,235 (1,969,246)
Income/(loss) before
income taxes 2,245,024 (979,472) (10,201,446) (1,219,293)
Provision for income
taxes -- -- -- --
------------ ------------ ------------ ------------
Net income/(loss) $ 2,245,024 $ (979,472) $(10,201,446) $ (1,219,293)
============ ============= ============= ============
Income/ (loss) per
common share:
Basic $ 0.09 $ (0.10) $ (0.62) $ (0.13)
============ ============= ============= ============
Diluted $ 0.08 $ (0.10) $ (0.62) $ (0.13)
============ ============= ============= ============
Weighted-average
number of common
shares outstanding:
Basic 26,179,515 10,187,700 16,358,756 9,679,038
============ ============ ============ ============
Diluted 28,707,965 10,187,700 16,358,756 9,679,038
============ ============ ============ ============
Balance Sheet:
AS SEEN ON TV, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
December 31, March 31,
2011 2011
------------- -------------
(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $ 7,097,285 $ 35,502
Accounts receivable, net 1,146,572 82,238
Advances on inventory purchases 2,134,298 --
Inventories 1,485,639 1,107
Deferred offering costs -- 63,500
Prepaid expenses and other current assets 394,597 46,370
------------- -------------
Total current assets 12,258,391 228,717
Investments, at cost 150,000 150,000
Property, plant and equipment, net 149,148 92,732
Deposit on asset acquisition 719,192 --
------------- -------------
Total Assets $ 13,276,731 $ 471,449
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
(DEFICIENCY)
Current Liabilities:
Accounts payable $ 1,316,670 $ 332,833
Notes payable officer -- 91,219
Deferred revenue 68,250 88,652
Accrued interest related parties 1,284 2,354
Accrued registration rights penalty 156,000 156,000
Accrued expenses and other current
liabilities 309,434 108,326
Notes Payable - Current Portion 47,342 9,714
Warrant liability 30,838,629 4,117,988
------------- -------------
Total current liabilities 32,737,609 4,907,086
Commitments and contingencies
Stockholders' equity (deficiency):
Preferred stock, $.0001 par value;
10,000,000 shares authorized; no shares
issued and outstanding at December 31,
2011 and March 31, 2011, respectively. -- --
Common stock, $.0001 par value; 750,000,000
shares authorized at December 31, 2011 and
400,000,000 shares authorized at March 31,
2011, respectively, and; 31,970,784 and
10,886,374 issued and outstanding at
December 31, 2011 and March 31, 2011,
respectively. 3,197 1,089
Additional paid-in capital -- 3,460,597
Accumulated deficit (19,464,075) (7,897,323)
------------- -------------
Total stockholders' equity (deficiency) (19,460,878) (4,435,637)
------------- -------------
Total liabilities and stockholders' equity
(deficiency) $ 13,276,731 $ 471,449
============= =============
About As Seen On TV, Inc.
As Seen On TV, Inc. is the parent company of TVGoods, Inc., a direct response marketing company. We identify, develop and market consumer products for global distribution via TV, Internet and retail channels. TVGoods was established by Kevin Harrington, a pioneer of direct response television. For more information go to www.TVGoodsInc.com and www.AsSeenOnTV.com.
Forward-Looking Statements:
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in identifying and marketing products, intense competition and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.
Contact Information:
Steven Hart
Corporate Strategy & Development
shart@tvgoodsinc.com
917-658-7878
CJES -- I think it's fracking regulation fear + margin pressure fear + share unlock of venture capitalists selling + misunderstood as a natural gas play and natural gas prices are hurting.
I'm guessing it is most misunderstood as affected by natural gas and as people and funds figure it out it will net inch upwards over the next several weeks and months IMO.
You mean the position you sold in the .80's?
ATPG...What got me posting here was that yahoo is showing positive net income last Q...
http://finance.yahoo.com/q/is?s=ATPG
But actual shows negative earnings....
http://phx.corporate-ir.net/phoenix.zhtml?c=123846&p=irol-newsArticle&ID=1628177&highlight=
I have also posted ATPG on the ZCC board and will now keep it there and off this board until earnings are at a plus.
Anyway, nice day today.
CJES - yes, I think those issues will continue to weigh on the stock for the foreseeable future ....
R59- CJES
Re, is there still that big a fear of a fracking ban or margins going forward to keep the stock at a 4.5 PE going forward, even after the blowout earnings report and guidence ?
ATPG +1.10 to 8.22, nice move, but is not eligible for this board due to lack of earnings .... I've been posting about the stock on the Zip Code Changers board - if all goes well this stock could be back over $20 within a year or two, but all that debt is worrisome, some of it trading at a deep discount due to risk of default. They're going to have to sell assets to manage the debt load.
http://investorshub.advfn.com/boards/board.aspx?board_id=15310
Nice quarter for TGE. Q4 earnings more than quadruple to .18/share. Seasonally stronger quarter, but looks like Q1 could be a monster. They earned .30/share in Q1 of 2011 and had a backlog of $62M going into that quarter. Current backlog up to $118M!! That backlog showed an impressive 42% sequential increase as well.
TGC Industries Reports Strong Fourth Quarter and Year-end 2011 Results
- Record fourth quarter revenues up 21% to $39.6 million
- Record fourth quarter EPS more than quadruples to $0.18
- Year-end backlog of $118 million
PLANO, Texas, Feb. 27, 2012 /PRNewswire/ -- TGC Industries, Inc. (NASDAQ: TGE - News) today announced strong financial results for the fourth quarter and year ended December 31, 2011. Revenues grew 21% to a fourth quarter record of $39.6 million from $32.7 million in the fourth quarter of 2010. Net income increased more than fourfold to a fourth quarter record of $3.4 million, or $0.18 per diluted share, compared to net income of $0.7 million, or $0.04 per diluted share, in the fourth quarter of 2010. Fourth quarter 2011 EBITDA* (earnings before net interest expense, taxes, depreciation, and amortization) increased 93% to $11.1 million from $5.7 million in the fourth quarter of 2010.
Wayne Whitener, TGC Industries' President and Chief Executive Officer, said, "We are extremely pleased with our record fourth quarter results, which were driven by continued improvement in the North American land seismic acquisition market resulting from higher capacity utilization and improved profitability in both the U.S. and Canada. In response to increasing demand from our customer base, we added two field crews subsequent to the third quarter and operated 12 crews in North America during the fourth quarter, eight in the U.S. and four in Canada.
"The Canadian winter season has turned out to be as strong as originally anticipated, and we continue to experience good bidding activity, along with steady pricing in all of North America. Our backlog remains strong, and we ended the year with approximately $118 million, a substantial increase over the $83 million as of the end of the third quarter. We began the first quarter of 2012 with eight crews in the U.S. and seven in Canada and are currently operating a total of 15 crews.
"We generated $34.2 million in cash flow from operations during 2011 and ended the year with $15.7 million in cash. We remain in a strong position, both financially and operationally, to make the most of ongoing favorable market conditions in the seismic industry for 2012."
FOURTH QUARTER 2011
Revenues for the fourth quarter of 2011 increased to $39.6 million from $32.7 million in the fourth quarter of 2010. The Company operated eight crews in the U.S. and four crews in Canada in the fourth quarter of 2011 compared to seven crews in the U.S. and four crews in Canada in the fourth quarter of 2010.
Gross margin in the quarter increased to 34.0% from 23.3% in the fourth quarter of 2010. Cost of services as a percentage of revenues declined to 66.0% from 76.7% in the fourth quarter of 2010 led by higher productivity, improved pricing and a greater number of crews. Selling, general and administrative expenses ("SG&A") increased to $2.4 million compared to $1.9 million in the fourth quarter of 2010. As a percentage of revenues, SG&A for the fourth quarter increased to 6.1% from 5.8% in the fourth quarter of 2010.
Net income increased more than fourfold to $3.4 million, or $0.18 per diluted share, compared to net income of $0.7 million, or $0.04 per diluted share, in the fourth quarter of 2010. In the fourth quarter of 2011, the Company recorded income tax expense of $2.4 million, an effective tax rate of 41.1%. This compares to an income tax expense of $1.0 million in the fourth quarter of 2010. Fourth quarter 2011 EBITDA* increased to $11.1 million from $5.7 million in the fourth quarter of 2010. EBITDA* margin increased to 27.9% compared to 17.5% in the fourth quarter of 2010 and to 22.1% in the previous quarter.
FULL YEAR 2011
Revenues for 2011 increased 39% to $151.0 million from $108.3 million in 2010 as a result of higher productivity, improved pricing and a greater number of crews. Cost of services as a percentage of revenues declined to 68.9% compared to 79.3% in 2010. SG&A expenses for 2011 increased to $9.6 million compared to $6.9 million in 2010. As a percentage of revenues, SG&A for 2011 was essentially flat with a year ago at 6.4%. The Company reported net income of $10.8 million, or $0.55 per diluted share, for 2011 compared to net loss of $1.2 million, or ($0.06) per share, for 2010. (All per share amounts have been adjusted to reflect the five percent stock dividend paid on May 14, 2010 to shareholders of record as of April 30, 2010). Full year 2011 EBITDA* more than doubled to $37.4 million from $15.5 million in 2010, and EBITDA* margin increased to 24.7% from 14.3% in 2010.
* A reconciliation of EBITDA (a non-GAAP financial measure) to reported earnings can be found in the financial tables.
CONFERENCE CALL
TGC Industries has scheduled a conference call for Monday, February 27, 2012, at 9:30 a.m. Eastern Time / 8:30 a.m. Central Time. To participate in the conference call, dial 480-629-9835 at least 10 minutes before the call begins and ask for the TGC Industries conference call. A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until March 12, 2012. To access the replay, dial 303-590-3030 using a pass code of 4510395#.
Investors, analysts, and the general public will also have the opportunity to listen to the conference call over the Internet by visiting http://www.tgcseismic.com. To listen to the live call on the web, please visit the website at least fifteen minutes before the call begins to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call and will remain available for approximately 90 days at http://www.tgcseismic.com.
TGC Industries, Inc., based in Plano, Texas, is a leading provider of seismic data acquisition services with operations throughout the continental United States and Canada. The Company has branch offices in Houston, Midland, Oklahoma City and Calgary.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on our current expectations and projections about future events. All statements other than statements of historical fact included in this press release regarding the Company are forward-looking statements. There can be no assurance that those expectations and projections will prove to be correct. Important factors that could cause actual results to differ materially from such expectations and projections are disclosed in the Company's Securities and Exchange Commission filings, and include, but are not limited to, the dependence upon energy industry spending for seismic services, the unpredictable nature of forecasting weather, the potential for contract delay or cancellation, and the potential for fluctuations in oil and gas prices. We undertake no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Tables to follow
TGC Industries, Inc.
Consolidated Statement of Operations
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2011
2010
2011
2010
Revenue
$ 39,552,361
$ 32,700,452
$ 151,028,582
$ 108,318,801
Cost and expenses
Cost of services
26,084,863
25,078,665
104,022,944
85,932,862
Selling, general, administrative
2,415,360
1,886,031
9,626,679
6,894,500
Depreciation and amortization expense
5,004,503
3,823,387
19,214,069
15,343,804
33,504,726
30,788,083
132,863,692
108,171,166
INCOME FROM OPERATIONS
6,047,635
1,912,369
18,164,890
147,635
Interest expense
209,234
173,275
784,425
790,417
INCOME (LOSS) BEFORE INCOME TAXES
5,838,401
1,739,094
17,380,465
(642,782)
Income tax expense
2,402,273
1,030,870
6,547,250
579,900
NET INCOME (LOSS)
$ 3,436,128
$ 708,224
$ 10,833,215
$ (1,222,682)
Earnings (loss) per common share:
Basic
$ 0.18
$ 0.04
$ 0.56
$ (0.06)
Diluted
$ 0.18
$ 0.04
$ 0.55
$ (0.06)
Weighted average number of
common shares outstanding:
Basic
19,275,120
19,204,448
19,243,356
19,202,804
All per share amounts have been adjusted for the 5% stock dividend paid May 14, 2010 to shareholders of record as of April 30, 2010. The statements of income reflect all adjustments which are, in the opinion of management, necessary for the fair presentation of the interim periods. The results of the interim periods are not necessarily indicative of results to be expected for the entire year.
TGC Industries, Inc.
Condensed Consolidated Balance Sheet
December 31,
December 31,
2011
2010
Cash and cash equivalents
$ 15,745,559
$ 13,072,503
Receivables (net)
19,351,023
17,166,709
Prepaid expenses and other
6,708,414
7,398,195
Current assets
41,804,996
37,637,407
Other assets (net)
279,400
262,364
Property and equipment (net)
57,796,831
49,715,626
Total assets
$ 99,881,227
$ 87,615,397
Current liabilities
$ 21,948,467
$ 23,943,519
Long-term obligations
6,955,504
6,021,455
Long-term deferred tax liability
7,257,576
4,787,623
Shareholders' equity
63,719,680
52,862,800
Total liabilities & equity
$ 99,881,227
$ 87,615,397
TGC Industries, Inc.
Reconciliation of EBITDA to Net Income (Loss)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2011
2010
2011
2010
Net income (loss)
$ 3,436,128
$ 708,224
$ 10,833,215
$ (1,222,682)
Depreciation
5,004,503
3,823,387
19,214,069
15,343,804
Interest
209,234
173,275
784,425
790,417
Income tax expense
2,402,273
1,030,870
6,547,250
579,900
EBITDA
$ 11,052,138
$ 5,735,756
$ 37,378,959
$ 15,491,439
CONTACTS:
Wayne Whitener
Chief Executive Officer
TGC Industries, Inc.
(972) 881-1099
Jack Lascar / Karen Roan
DRG&L (713) 529-6600
ATPG...Up nicely this morning...ATP Announces Production Success at Fourth Well at Telemark Hub
ATP Oil & Gas Corporation (NASDAQ:ATPG - News) today announced first oil production at its Mississippi Canyon (“MC”) Block 942 A-3 (#2) well, the fourth well at its Telemark Hub. The oil production rates are gradually being increased as the well goes through the initial stages of production. The early production rate performance has met expectations and the rate of oil production is being increased. Further information will be reported as it becomes available. The MC 942 A-3 well is located on the Morgus Field and is the fourth well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform.
ATP operates the deepwater Telemark Hub in approximately 4,000 feet of water with a 100% working interest and holds a 100% ownership in ATP Titan LLC which owns the ATP Titan and associated pipelines and infrastructure.
http://finance.yahoo.com/news/ATP-Announces-Production-bw-1145555266.html?x=0
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Assistants hweb2 lentinman researcher59 Knowledge is King SSKILLZ1 |
Value Microcaps is an IHub Premium board. You must be a premium member to post, however everyone is welcome to read.
We strongly encourage all free members to become premium. The cost is only $7.50/month on an annual basis. The benefits are enormous.
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SEC filings: US Corporations
http://www.sec.gov/edgar/searchedgar/companysearch.html
By ticker symbol:
http://yahoo.brand.edgar-online.com/default.aspx
By full text search:
http://searchwww.sec.gov/EDGARFSClient/jsp/EDGAR_MainAccess.jsp
SEDAR filings: Canadian corporations
http://www.sedar.com/homepage_en.htm
Insider filings for Canadian public companies
https://www.sedi.ca/NASApp/sedi/SVTSelectSediInsider?menukey=15.01.00&locale=en_CA
EARNINGS
http://businesswire.com register and setup your preference for earnings
http://www.prnewswire.com/news/
Gold Info
http://www.kitco.com/
BASE METALS
http://kitcometals.com/
Stock Quotes/Info
http://www.nasdaq.com/
http://www.pinksheets.com/index.jsp
https://www.scottrader.com/ register for demo and get free streaming quotes!
Charts
http://stockcharts.com/
http://bigcharts.marketwatch.com/
Directory of Financial Info
http://www.superstarinvestor.com/directory.html
http://www.investopedia.com/
Energy Info
http://tonto.eia.doe.gov/oog/info/ngs/ngs.html Weekly Ngas Storage Report
http://www.eia.doe.gov/
http://www.321energy.com/archives.php?c=oil
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TOP PICKS BY BOARD MEMBERS
For the PSL14 contest There are 58 contestants. Shown are the number of picks for the most popular stocks.
[pre] TELT.OB 13 Picks
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JBII.OB 5
MILL.OB 5
ROIAK 5[/pre]
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BREAK THE HANK BANK (BTHB) 2010 CONTEST
Now underway.
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Overall, the Goal of VALUE MICROCAPS is to encourage sharing of good information by honest posters. We strive for a Win/Win situation where all of us gain by sharing information in a trusting environment. While internet investing can be competitive and individual,we have proven that sharing good information is profitable and personally rewarding.
Good luck in your investing, Bobwins
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