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JAKK had a good quarter. I don't own it...
JAKKS Pacific 3Q Net Rose 23% As Rev Climbed 27% >JAKK
DOW JONES NEWSWIRES
Jakks Pacific Inc.'s (JAKK) third-quarter earnings rose 23% to $40.5 million, or $1.26 a share, from $32.8 million, or $1.05 a year earlier, boosted by early holiday sales.
The Malibu, Calif., toy company said sales for the quarter rose 27% to $295.8 million from $233.5 million a year earlier.
Excluding non-cash charges, pro forma income was $43.6 million, or $1.35 a share, compared with $33.5 million, or $1.07 a share, in the year-ago quarter.
The company said the holiday buying season already had begun.
Jakks reiterated its 2006 forecast of earnings of about $2.32 a share on approximately $775 million in sales.
Eurozinc/Lundin On Lookout For Another US$1B Deal
10/18/2006
Dow Jones News Services
(Copyright © 2006 Dow Jones & Company, Inc.)
By Brian Truscott
Of DOW JONES NEWSWIRES
VANCOUVER (Dow Jones)--Eurozinc Mining Corp. (EZM.T) shareholders will vote Thursday on the Vancouver-based company's plan to merge with Lundin Mining Corp. (LUN.T), to create a C$3 billion copper-zinc-lead producer that's already hunting for another billion-dollar deal.
"We expect to have another acquisition within the year, so, together with an expected rerating coming from the merger, we should become a C$5 billion-plus company," Eurozinc Chief Executive and Vice-Chairman Colin Benner told Dow Jones Newswires.
Benner - slated to be chief executive of the new company, which will be called Lundin Mining Corp. - said the rationale for growing via acquisition is simple enough. With companies such as Inco Ltd. (N) and Falconbridge Ltd. (FAL) being taken over by foreign suitors, Canada's investment community has fewer TSX-based choices in which to invest.
"A lot of these funds will soon be free of (Inco and Falconbridge allocations) and there will be a trickle-down effect," Benner said. "We want to move up the food chain, in terms of that kind of allocation, and we want to get it earlier rather than later."
Once Inco and Falconbridge are digested by Brazil's CVRD (RIO) and Switzerland's Xstrata PLC (XTA.LN), respectively, there will be a large market-capitalization gap between, say, First Quantum Minerals Ltd (FM.T), at C$3.7 billion, and senior miner Teck Cominco Ltd. (TCK) at C$16.8 billion, Benner said.
"Lundin Mining wants to occupy that space," he said.
The question of the day is: What will Benner go after once Eurozinc shareholders approve the Lundin merger?
"It's not yet clear if the new company will go after public or private assets," said one sector analyst.
Base metal-focused companies such as Inmet Mining Corp. (IMN.T), Hudbay Minerals Inc. (HBM.T), Aur Resources Inc. (AUR.T) fall within the C$1 billion to C$2 billion market cap range, although the quality of assets, in terms of costs and mine life, could be a negative with the likes of a Hudbay, analysts said.
Australia's Zinifex, Perilya Could Be On M&A Radar
One analyst suggested Lundin Mining might choose to go after Australian rival Zinifex Ltd. (ZFX.AU) or the smaller Perilya Ltd. (PEM.AU), in part to diversify an asset base that's primarily based in Sweden, Ireland, Portugal and, more recently, Russia, with its recent acquisition of a 49% stake in the Ozernoe zinc project.
"There's always that Russia question, because Lundin has historically been strong in that region, with its mining and oil and gas investments there," the analyst said. "I could see Lundin aggressively growing its Russian asset base, given the amount of business and the contacts it has there."
Don't forget that Lundin Mining is part of the larger Lundin group of companies, which includes Lundin Petroleum AB (LUPE.STK), Red Back Mining Inc. (RBI.T), Tenke Mining Corp. (TNK.T) and Tanganyika Oil Ltd. (TYK.V).
"I would expect that some of the assets under the Lundin group umbrella might be sold into the (new) Lundin Mining company once the merger is complete," said one analyst, who opined that Lundin's 25% interest in the Tenke copper, cobalt and gold play might soon be given over to the new company.
Eurozinc's Benner said the new Lundin Mining intends to stick with its copper-zinc-lead focus.
"If you look at that space right now, especially the zinc sector, there's not a lot of competition there," he said. "What's advantageous for current zinc producers is that it will take a long time to bring even a good project up to the operational stage where you're putting concentrate into the market."
Benner said he's decidedly bullish on copper and zinc over the next three years, although he concedes the market will eventually turn as more competition and capacity comes into the sector.
"I think zinc will be stronger for longer; zinc prices will be closer to $2 than $1 going forward, while copper will probably be closer to $3 than $4," he said.
A recent Standard Bank report predicted that the zinc spot price could rise to a record $2.25 a pound over the next year, because the current market is in deficit as demand outstrips available mine and refinery supply.
Ultimately, Benner said the Eurozinc/Lundin merger "transitions Eurozinc from a one-mine, one-commodity company into being a multi-mine, multi-commodity company."
He said that, from a risk-mitigation standpoint, it's always better to have several mines and several avenues of cash flow.
Historically, Eurozinc's main business was primarily about copper and Portugal-based operations. Lundin adds geographic diversity and a large zinc and lead component to the mix.
"Running a mining company is a lot like sitting on a stool; it's a heck of a lot more comfortable having a stool with four legs than just one," he said.
The merger - widely expected to be approved by Eurozinc shareholders, who will receive 0.0952 of a Lundin share for every Eurozinc share - makes sense, Benner said, because the two companies work in the same geographic region, share the same smelters and have the same project philosophy.
"This is a friendly merger of equals," Benner said. "We kept seeing each other's footprints because we were both operating in the same space, geographically - and that's why we said, 'Let's get together.' "
The new Lundin Mining, which will be virtually debt-free, will have four profitable mines in Portugal, Sweden and Ireland, while a fifth mine - the Aljustrel zinc-lead-silver project in Portugal - is set to come into production during the second half of 2007.
The company also has sizable investments in assets in Eritrea and Iran as well as greenfield exploration potential in places such as Portugal and Spain, where it has amassed a 2,700-square-kilometer land package.
HSR in the $8s! That didn't take long. Nice call the other day on going short, HWEB. I just shorted some this morning @ $12.14, and then more at $11.38 after I saw that revenue declined 17% coupled w/ less than stellar eps.
HSR Q1 EPS of .09 out on the newswire.
SIMC +$2.52 to $7.61 pre-market on Q2 and restatement of results. Q2 was strong, but does it justify such a positive reaction?
Simclar, Inc. Announces Results for Second Quarter 2006
Wednesday October 11, 5:58 pm ET
Company to Restate 2005 and First Quarter 2006 Results
HIALEAH, Fla.--(BUSINESS WIRE)--Simclar, Inc. (NASDAQ:SIMC - News), a multi-plant electronics contract manufacturer, announced today that it expects to report revenue for the quarter ended June 30, 2006 of $30,520,000, net income of $790,000, and earnings per share (basic and diluted) of $0.12, compared to revenue of $21,820,000, net income of $510,000 and earnings per share (basic and diluted) of $0.08, for the quarter ending March 31, 2006 which will be restated as described below.
As previously reported, due to the discovery of accounting errors in the Company's Simclar (Mexico), Inc. subsidiary during 2005, the Company concluded that it would be necessary to restate its financial statements for the year ended December 31, 2005. During the investigation of these errors, the Company determined that these errors, as well as similar errors during the first quarter of 2006, also will require a restatement of its financial statements for the quarter ending March 31, 2006. These accounting errors are described in greater detail in the Company's report on Form 8-K filed today.
As previously announced, management's effort to identify, quantify and correct the prior period errors delayed the filing of the Company's report on Form 10-Q for the quarter ended June 30, 2006. However, the Company now expects to file this quarterly report, along with an amended annual report on Form 10-K for the year ended December 31, 2005 and an amended quarterly report on Form 10-Q for the three months ended March 31, 2006 by October 27, 2006.
The Company has completed a comprehensive investigation of the accounting errors in its 2005 and first quarter 2006 financial statements, and as a result of these errors, has determined to restate its financial results for these periods as follows:
Simclar, Inc.
Consolidated Statements of Income
Year ended December 31, 2005
As Reported Amount of As Restated
Adjustment
------------ ----------- ------------
Sales $61,210,000 $(200,000) $61,010,000
Income Before Tax $2,220,000 $(480,000) $1,740,000
Net Income $1,250,000 $(300,000) $950,000
Earnings per Share $0.19 $(0.04) $0.15
Three months ended March 31, 2006 (unaudited)
As Reported Amount of As Restated
Adjustment
------------ ----------- ------------
Sales $21,950,000 $(130,000) $21,820,000
Income Before Tax $1,230,000 $(340,000) $890,000
Net Income $720,000 $(210,000) $510,000
Earnings per Share $0.11 $(0.03) $0.08
The Company noted that its review of the Company's accounting systems and processes leading to the adjustments described above disclosed that the accounting errors resulted from deficiencies in the reconciliation and review process caused by staff turnover and the lack of requisite accounting skills in certain members of the accounting staff. Management stated that it has determined that these errors resulted in a material weakness in the Company's internal controls over financial reporting as of December 31, 2005 and March 31, 2006. This material weakness and the remedial actions the Company has taken will be described in greater detail in the second quarter Form 10-Q, the amended 2005 Form 10-K and the amended first quarter 2006 Form 10-Q, all of which the Company expects to file by October 27, 2006.
"We recognize the seriousness of this matter relative to internal controls and the integrity of our financial statements," said Sam Russell, chairman and chief executive officer of the Company. "However, these errors do not impact our basic business operations and there is no evidence of fraudulent activity on the part of any employee."
"We have re-examined our accounting practices and taken swift action to establish better controls," said Marshall W. Griffin, Jr., chief financial officer of the Company. "The restatement only involves accounting errors relating to our Simclar (Mexico), Inc. subsidiary. We have reviewed our other business units and found no similar errors."
Although management has completed its review of the financial results set forth in this release, they remain subject to adjustment pending final review by the Company's independent accountants of the financial statements of the Company included in the amended annual and quarterly reports referenced above, all of which the Company expects to file by October 27, 2006.
This is surprising to me....2/3 of Americans are living paycheck to paycheck:
http://biz.yahoo.com/prnews/060919/datu020.html?.v=71
IMOS continues to grow sales at an impressive rate:
ChipMOS August Sales Up
Friday September 15, 9:11 am ET
ChipMOS Says Sales Up 38 Percent in August
NEW YORK (AP) -- Taiwanese semiconductor testing equipment maker ChipMOS Technologies (Bermuda) Ltd. said Friday its August sales grew 38 percent.
The company's sales totaled $53.7 million, up from $38.8 million a year ago and up 5 percent from July's revenue.
HCAR is another arbitrage opportunity (if approved). They plan on going private and paying all remaining non-family shareholders @ $2.30/share.
Hometown Auto Retailers Settles Shareholder Lawsuit and Agrees to
Acquire 2.98 Million Class A Shares and Options of Common Stock
Following acquisition of the shares, the company plans to complete the
previously announced Exchange Agreement and become a private entity
WATERBURY, Conn. - June 8, 2006 - Hometown Auto Retailers, Inc. (OTC BB: HCAR) today announced it has settled a shareholder lawsuit, and as a result, the company will acquire 2.74 million shares and 242,500 options of Class A common stock, representing all of the shares not held by the Shaker or Muller families, currently the two largest groups of shareholders of Hometown Auto shares.
Settlement Agreement Details
Under terms of the Settlement Agreement announced on Wednesday, June 7, 2006, Hometown Auto intends to proceed with the following:
·
Acquire approximately 2.98 million publicly traded shares and options of Hometown Auto’s Class A common stock not presently held by members of the Shaker or Muller families at a price of $2.40 per share or option, reduced by an anticipated $300,000 in legal fees, for an anticipated payout of approximately $2.30 per share or option;
·
Following the acquisition of the 2.98 million shares and options, Hometown Auto intends to implement the Exchange Agreement as disclosed by the company on June 2, 2005, the result of which will be a split-off of certain assets from the company into a new privately held entity controlled by the various members of the Shaker family (see Historical Details below for more information);
·
The Shaker family entity will consist of the following automobile franchises, real estate holding companies and assets,
·
Framingham Nissan (Framingham, Mass.),
·
Brattleboro Chrysler Jeep Dodge (Brattleboro, Vt.),
·
Family Ford (Waterbury, Conn.),
·
Shaker’s Lincoln Mercury (Watertown, Conn.),
·
Wellesley Mazda (Wellesley, Mass.),
·
Shaker’s Auto Care (Naugatuck , Conn.).
·
Baystate Realty (Framingham, Mass.), and
·
Brattleboro Realty (Brattleboro, Vt.),
·
Plus $5 million in cash (subject to adjustment for fluctuations in the value of certain assets and liabilities of the New England subsidiaries);
·
Following the split-off of the Shaker family entity, it is anticipated that Hometown Auto will become a private company owned by various members of the Muller family and will consist of the following automobile franchises and real estate holding company,
·
Muller Chevrolet (Stewartsville, N.J.),
·
Muller Toyota (Clinton, N.J.), and
·
Toyota of Newburgh, (New Windsor, N.Y.), and
·
Newburgh Realty (New Windsor, N.Y.); and
·
Borrow $9.5 million from a financial institution to help finance the above transactions.
The board of directors of Hometown Auto has unanimously approved the settlement agreement and exchange agreement. It is expected that Corey Shaker will maintain his positions as president and CEO of Hometown Auto until the completion of the above-described transactions.
Tuesday, August 22, 2006
July single-family home sales drop at sharpest rate in 11 years
Sales of single-family homes in Massachusetts declined in July at the sharpest rate for a single month since 1995, and condominium sales dropped off at the fastest pace since 2003, according to a report released today by a firm that tracks real estate transactions.
Single-family home sales dropped nearly 27 percent and condo sales fell 23.5 percent, offering fresh evidence that the state's housing slump isn't about to end soon. But The Warren Group urged not to read too much into numbers from a single month.
"Monthly fluctuations can happen," said Timothy Warren Jr., CEO of the Boston-based publisher of regional real estate and financial data. "We're not pressing the panic button yet, but we are watching the trend lines very closely."
A total 5,070 sales of single-family homes were recorded statewide in registries of deeds in July, compared with 6,934 in the same month a year ago. The decline was the state's biggest in percentage terms since a 29.6 percent drop in April 1995, according to the group, which began tracking sales data in the 1980s.
The median sales price -- the point where half of homes sell for more and half sell for less -- fell 6.1 percent to $339,000.
Condominium sales fell to 2,692 last month from 3,518 in July 2005, the sharpest decline since a 23.8 percent drop-off in March 2003. The median price fell 4.2 percent to $277,000.
Single-family home sales have now declined for seven straight months measured against comparable months a year earlier, and for 17 of the last 18 months dating to February 2005. Condo unit sales have fallen each month since April. (AP
ARSD is mentioned here-
http://www.nypost.com/business/the_smart__likes_business_hilary_kramer.htm
Please trade MOVI for YPNT.
Thanks
Isreali based ELTK posts eps of .06, a big improvement over last year, but is it enough to sustain a $3.60 stock price in this jumpy market? I decided to sell pre-market and not take that risk.
SVL down to $3.06 after just posting fully taxed EPS of $0.17 last week. They continue to guide for EPS of $0.53 to $0.56 for the year, which seems conservative given earnings to date. Just one of many bargains out there!
Another strong quarter from HRSH. Excellent balance sheet with about $13M in cash and a $13M market cap (?).
Hirsch Reports Continued Improvement In 2nd Quarter 2006
Thursday August 10, 8:30 am ET
Increases in Net Sales, Gross Profit, Net Income Drive Growth
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Aug. 10, 2006--Hirsch International Corp. (NASDAQ: HRSH - News), the leading provider of advanced embroidery systems and related support services in the United States, reported its financial results for the second quarter and five months ended June 30, 2006. Highlights of those results are as follows:
Net sales were $13.7 million for the quarter ended June 30, 2006, an improvement of $1.1 million or 8.7% over net sales of $12.6 million for last year's fiscal second quarter which ended July 30, 2005. For the five months ended June 30, 2006, net sales were $22.3 million versus $26.3 million for the prior six-month period which ended July 30, 2005.
For the quarter ended June 30, 2006, gross profit increased $0.2 million to $4.6 million from $4.4 million for the quarter ended July 30, 2005. For the five months ended June 30, 2006, gross profit was $7.6 million or 34.2% of net sales as compared to $8.6 million for the six months ended July 30, 2005 or 32.7% of net sales.
Selling, general and administrative expenses and overall operating expense increased $0.2 million from $3.8 million to $4.0 million for the quarter ended June 30, 2006 as compared to the fiscal quarter ended July 30, 2005 and decreased $1.2 million for five months ended June 30, 2006 as compared to the six months ended July 30, 2005. Included in the six months ended July 30, 2005, was a $147,000 charge for severance costs associated with the Company's continuing reorganization.
For the quarter ended June 30, 2006 the Company reported net income of $0.6 million, an improvement of $0.1 million from net income of $0.5 million for the quarter ended July 30, 2005. For the five months ended June 30, 2006, the Company reported net income of $0.9 million, an increase of $0.3 million from the net income of $0.6 million for the six months ended July 30, 2005.
"I am very proud of the entire Hirsch team and their continued dedication and focus on serving our customers, resulting in yet another positive quarter for the Company," said Paul Gallagher, President and Chief Executive Officer of Hirsch. "The Company continues to experience growth at both the top and bottom lines. In addition, the signing of our recent distribution agreement with MHM adds to our capacity, making us the exclusive distributor of the world's finest screen printing equipment throughout the U.S. and Canada. Our reach has now been expanded into a new, yet synergistic industry and we look forward to continue building value for the Company and our stockholders."
MOVI: OUCH! Unexpected given last quarter's blowout results and rosy conference call. Oh well - it was fun while it lasted.
SEC charges CEO of Epic Media with fraud:
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B1163E5D5%2D1682%2D4989%2D9AB4%2DEDB988281C8...
nelson-I had a similar problem w/ Ameritrade. I complained via email and they resolved the problem the next day. I scrutinize my accounts more closely now...see my message from May:
http://www.investorshub.com/boards/read_msg.asp?message_id=10927825
Looks like Bobwins isn't the only one buying PYR this morning. I just received an alert from RingTheRegister.com about the stock....
7-20-2006 – PYR – PYR Energy Corporation
CURRENT PRICE: $1.07
TYPE OF PLAY: EARNINGS GROWTH /TECHNICAL ANALYSIS/SITUATIONAL
PYR is an independent oil and gas exploration and production company. They are engaged in the exploration, development and acquisition of crude oil and natural gas reserves the Rocky Mountain, Texas and Oklahoma Panhandle, East Texas and Gulf Coast regions. In the most recent quarter (reported this past Monday), Oil and gas revenues increased a record 126% to approximately $3.7 million for the three months ended May 31, 2006. Additionally, PYR turned a net profit of .04 per share. In comments about the company’s outlook the CEO said:
“Overall, we are extremely pleased by our record results and the continued quarter over quarter and year over year growth that the Company has experienced in production and revenue. We expect continued increases as new wells are drilled and brought on line. The Scharff drilling in Oklahoma continues to add significant production and cash flow to the Company, and we are excited about the opportunity that our Smith County -- Rodessa project offers for future growth. At the Mallard project in Wyoming, we are excited about the current 3D seismic survey underway, and the possibilities to drill additional wells in the giant Whitney Canyon Carter Creek Field. “
This market has seen small-cap growing oil and gas companies like GEOI, BDCO and OMNI shoot to record levels in a short time after the revenue and income growth story is realized. We believe that should PYR continue on its current path, the beginning stages of a similar growth story will evolve and lead to a significant revaluation. Note that their record improvement in earnings was made despite the downturn in natural gas prices over the past year. We feel that the potential upswing in natural gas prices and continual global oil worries will be additive to future earnings growth. With no regard for earnings growth, the market has mercilessly taken this stock down almost 80% from yearly highs. We think that the disconnect between stock performance and proven earnings growth is a key opportunity to catch a small, relatively unknown company while at its lows.
OT: I like their focus...
Planned ETF to fly stealth mission
Claymore funds designed to target undercovered stocks, insider buying
By John Spence, MarketWatch
BOSTON (MarketWatch) -- Another upstart is planning to list exchange-traded funds that push the line between active and passive management, including a "stealth" portfolio that invests in stocks largely ignored by Wall Street analysts and unloved by investors.
Claymore Advisors LLC, a subsidiary of Claymore Group Inc., has filed its first five ETFs with regulators to launch on the American Stock Exchange, pending regulatory approval.
The planned Claymore-Sabrient Stealth Portfolio ETF is designed to follow an index designed by investment-research firm Sabrient Systems LLC that tracks 250 U.S.-traded stocks and ADRs with little or no analyst coverage, according to regulatory documents.
The overall strategy is "to actively represent a group of stocks that are 'flying under the radar screen' of Wall Street's analysts, but which have displayed robust growth characteristics," a filing said. The ETF will seek to outperform, adjusted for risk, the Russell 2000 Index (RUT) and other small-cap benchmarks.
Scott Martindale, senior managing director at Sabrient, said there is substantial research in the academic world about the "neglected-stock effect."
"Stocks that are not heavily followed and not widely owned tend to be available at a lower price and outperform over time," he noted.
Most of the stocks will be culled from the small and microcap range with market capitalizations under $1 billion, according to filings. Martindale said companies in the index will have either one or no analysts covering the stock.
Aside from the so-called stealth fund, Claymore has filed a fund targeting insider buying and analyst upgrades, an ETF that shifts between sectors, a dividend portfolio and an emerging-markets offering tracking Brazil, Russia, India and China.
Lisle, Ill.-based Claymore already manages closed-end funds, unit investment trusts, mutual funds and separate accounts.
One of the ETF in the works called Claymore-Sabrient Insider Sentiment Portfolio intends to hold a basket of 50 companies compiled by Sabrient "reflecting favorable corporate insider buying trends and Wall Street analyst upgrades" with an eye on topping the S&P 500 (SPX) and other broad-market indexes, according to filings.
"We're looking for positive sentiment on a stock by the people closest to it -- the insiders who work within the company and their buying trends, and the analysts who follow the company," said Sabrient's Martindale. "Our work has shown these two factors seem to be a good predictor of future performance."
A spokesman for Claymore declined to comment on the ETFs in registration, citing a Securities and Exchange Commission quiet period. Fees for the ETFs have not yet been determined.
Most of the early popular ETFs such as SPDR 500 Trust "Spiders" (SPY) and Dow Jones Industrial "Diamonds" (DIA) tracked indexes that simply weighted companies by their market capitalization, but the recent trend is to "fundamental" or "intelligent" indexes that attempt to supply higher returns.
Sectors, hogs and BRICs
Claymore has tapped another market think tank, Zacks Investment Research, for the indexes behind two funds in registration that also seek to provide market-beating performance. Zacks is the benchmark provider for existing ETFs such as PowerShares Zacks Micro Cap (PZI) and PowerShares Zacks Small Cap (PZJ) .
The planned Claymore-Zacks Sector Rotation Portfolio will hold 100 stocks, while the index is programmed to overweight outperforming sectors in advance.
Zacks breaks the stock market into 16 sectors such as consumer staples, basic materials, finance, utilities and other industries. The weighting for any one sector can range between zero and 45% of the index, according to filings.
The methodology "strives to overweight cyclical sectors prior to anticipated periods of economic expansion and overweight noncyclical sectors prior to anticipated periods of economic contraction," according to documents registered with the SEC.
Another Claymore ETF in registration seeks to cash in on the dividend trend. The Claymore-Zacks Yield Hog Portfolio will focus on 125 to 150 companies with potentially high income and superior risk-return profiles. The index isn't confined to common stocks and can also include real estate investment trusts, master limited partnerships and closed-end funds, according to the initial prospectus.
If approved, the ETF will square off against other dividend-oriented ETFs such as iShares Dow Jones Select Dividend (DVY) , WisdomTree Total Dividend (DTD) , PowerShares HighYield Dividend Achievers (PEY) , SPDR Dividend ETF (SDY) and Vanguard Dividend Appreciation ETF (VIG) .
Finally, Claymore is readying a BRIC ETF -- as emerging-markets funds that specialize in Brazil, Russia, India and China are known -- tied to an index managed by Bank of New York Co. (BK) .
Several fund companies have launched BRIC funds, a term first made popular by a 2003 Goldman Sachs Group Inc. (GS) report, in recent years as investors have piled money into outperforming emerging markets. And several index managers such as Standard & Poor's, Dow Jones & Co. (DJ) and Morgan Stanley Capital International have recently introduced BRIC indexes, which may signal more upcoming ETFs.
LOL. Thanks SSK.
Hey guys. Just noticed you list SSKILLZ1 as trading SIMC for SVL on 7/5/06 in the IBOX "TRADES AND FREEZES." That was actually my trade...and by SVL, I obviously meant ESCL. Thanks for fixing these errors ;)
Is there a good way to play the ups and downs of the NYMEX Henry Hub natural gas prices without buying individual stocks?
Please trade SIMC for SVL. Thanks
BLD looks like a good value @ $5 because of their low p/e, solid balance sheet, healthy backlog, and have experienced steadily increasing top and bottom lines. They will now join the Russell:
Baldwin Joins Russell Microcap Index
Thursday June 29, 8:57 am ET
SHELTON, Conn.--(BUSINESS WIRE)--June 29, 2006--Baldwin Technology Company, Inc. (AMEX: BLD - News), a leading global manufacturer of printing press accessories and control equipment, announced today that it will join the Russell Microcap(TM) Index when the Russell Investment Group reconstitutes its family of U.S. indexes on June 30, according to a preliminary membership list posted at http://www.russell.com.
Vice President and CFO Vijay C. Tharani said, "This is an important milestone for our company. Placement on the Russell Microcap Index will provide us with exposure to a new group of investors who previously may not have been introduced to Baldwin."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.8 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of members stocks according to that company's weighting in the particular index.
ACSEF getting hammered pre-market. They are losing a major customer...
ACS Motion Control Reports Loss of Major Application
PR Newswire - June 26, 2006 08:08
MIGDAL HA'EMEK, Israel, June 26, 2006 /PRNewswire-FirstCall via COMTEX/ -- ACS Motion Control Ltd., (Nasdaq: ACSEF - news), a developer and manufacturer of advanced motion control products, announces that the Company has been notified by one of its customers that due to a redesign of its system, as of the fourth quarter of 2006 it would no longer require the products that it has been purchasing for this application. Sales to this application accounted for 13% of the Company's revenues in 2005 and approximately 26% of its revenues in the first half of 2006.
In light of this development the Company intends to use Company resources that will become available to increase its marketing efforts in an attempt to compensate for the loss of revenues generated by the aforementioned application.
Picked up some HBMFF for $10.60. Quite a selloff some of these value stocks are experiencing! Ouch
Wade, Stocklemon already came out with a rebuttal to the last two HOM press releases this afternoon:
http://www.stocklemon.com/06_07_06.html
Love 'em or hate 'em, stocklemon does have a good track record.
I'm sure they profit off of selling short, but I also think they serve the public interest by being an effective independent watchdog. The timing of the insider sales, as well as the American Renaissance formation/contact announcement, do look a bit fishy to me.
ACLO renewed their contract w/ Samsung today. The company announced earnings of .01 last week. ACL expects income from operations to remain at the same level during the coming months in 2006. The stock closed at .20 today.
ACL Semiconductors, Inc. Renews Agreement with Samsung
Business Wire - May 24, 2006 07:30
HONG KONG, May 24, 2006 (BUSINESS WIRE) -- ACL Semiconductors, Inc. (OTCBB:ACLO) is pleased to announce the recent signing of a license renewal agreement with Samsung HK. The license agreement, which has been renewed annually since 1993, entitles the company to distribute Samsung-branded memory components to Original Equipment Manufacturers (OEM) assembly plants in Hong Kong and southern China. Amongst the many types of Samsung memory components distributed by the company such as DRAM, SRAM and Mask Rom for mainly the PC market, the company also distributes the latest Samsung-branded NAND Flash memory chips commonly used in digital and video cameras, cell phones and other popular consumer electronics.
"Samsung HK is the largest memory chip manufacturer in the world," stated CEO Alan Yang. "This marks the 13th consecutive year of the renewal of our license agreement together. The agreement underscores a solid working relationship that has helped foster our revenue to soar in excess of one hundred million dollars annually. As Samsung develops the next generation of memory components, they can depend on us to be one of their largest distributors in Asia. Since 1993 we have shared the vision with Samsung and have built our competitive market share by developing and distributing state-of-the-art memory and flash products," he concluded.
It is important to note that ACL Semiconductor is not just a standard reseller for Samsung Memory products. ACL has been a "total solution provider" for Samsung and its end users for many years. ACL has and will continue to hire engineers to assist in the development of the best-of-breed memory solutions for their own customers and those of Samsung.
Yang continued, "While we expect Samsung to be a big part of our future, given the recent surge in Flash Memory, DRAM and DDR markets, other memory manufacturers are approaching us to explore how we can help them achieve similar success within Asia."
About ACL Semiconductors, Inc.
ACL has been a leading distributor of Samsung and other memory chip products, including DRAM, Flash, SRAM and Mask ROM products, for the Hong Kong and southern China markets since 1991, and has achieved annual sales in excess of one hundred million dollars since 2004. ACL Semiconductors has been in business in Asia for the past 15 years and, during that time, has evolved as an integral part of southern China's development while serving the OEM and ODM manufacturing base for mobile phones, PDAs, digital cameras, laptop computers, MP3 players and other consumer electronics worldwide. The company has more than 200 customers in Hong Kong and southern China. ACL Semiconductors, Inc. trades on the OTCBB under the symbol "ACLO."
About Samsung HK
Samsung HK is one of the world's largest semiconductor manufacturers; Samsung is also South Korea's top electronics company. It makes many kinds of consumer devices, including DVD players, big-screen televisions, and digital cameras, computers, color monitors, LCD panels, and printers. It also manufactures semiconductors such as DRAMs, SRAMs, and flash memory, and communications devices ranging from wireless phones to networking switches.
LOL. Knowledge, my point is, obviously these "cactus nutraceuticals" CKGT manufactures are peyote/mescaline. That shareholder letter sounded like a Jim Morrison poem! Just kidding. And yes, I am prickly because I didn't buy it :)
Looks like EZM is turning green, just as PSL3 kicks off. Sheeps like me were hoping it stayed down until Monday, but I still think it will be a popular pick nonetheless....
CKGT - another great call, KIK. However, if I were long, I'd certainly hope they understand numbers and accounting better than they understand the English language. The fact that they would send out a shareholder letter to English-speaking investors that sounded like this would make me question their judgement:
"In the past few years, the company depend on the aim that for undertaking, inherited the idea of “diligent and practical , pioneered and invented " all the time, with the strong social sense and specialized operation mode , depend on the cooperation of the group, have made the achievement that attracting people's attention.
Facing the 21st century that coexist the challenge and opportunity, the group grows with the new system, under the energetically support of various circles of society and the masses of shareholders, through the making great efforts unanimously of the staff , give full play to her advantage , unite the strength of various fields of the whole society, absorb the internationally advanced technology and experience, further improving the competitive power of company by innovating, the company expects to offer high-quality and the whole range service for policymakers with the characteristic industry of cactus.
We believe firmly: Person that make contributions to the company, under the support from all walks of life, the staff of company must show their intelligence, wisdom, courage and insight, create brilliant tomorrow of Company."
http://www.biocactus.com/in_1.asp
Wow, IMOS is $6.30. This semiconductor testing company just reported revenue growth of 31% y/y and eps of .27 vs. .08. On Tuesday, they reported April sales were up 33%. Trailing p/e is 10, forward p/e is 6, with no debt and what looks like about $1.90 in cash on the balance sheet.
This might help our little public companies:
Republicans plan bill relaxing Sarbanes-Oxley law
Mon May 15, 2006 4:39 PM ET
By John Poirier
WASHINGTON, May 15 (Reuters) - A group of U.S. Republican lawmakers said on Monday they will introduce legislation this week to modify the landmark Sarbanes-Oxley corporate reform law and exempt small companies from some requirements that have been criticized as too costly.
At issue is a provision, known as Section 404, which requires companies to disclose more about their internal financial controls and outside auditors' opinions on the adequacy of the controls. The Sarbanes-Oxley law was passed by Congress in 2002 to help restore investor confidence after Enron Corp.'s accounting scandal and collapse.
The planned House bill would allow companies with market capitalization of less than $700 million and revenues of less than $125 million to opt out of complying with Section 404, the lawmakers said.
Critics of the law say the costs of Section 404 outweigh the benefits for smaller companies and may be forcing some companies to list their stock overseas due to compliance costs.
"Many of these costs were spent by companies that pose little risk to investors or companies where the cost of the compliance burden is clearly not with it for investors," Rep. Tom Feeney of Florida said in a statement.
Feeney and two other House lawmakers, Candice Miller of Michigan and Pete Sessions of Texas, plan to introduce the bill on Wednesday. In the Senate, Republican Jim DeMint of South Carolina is expected to soon propose a similar bill.
"There will be a companion bill in the Senate simultaneously," said DeMint's spokesman, Wesley Denton. "Senator DeMint believes we need to make America the best place in the world to do business and one of the ways to do that is to reform Sarbanes-Oxley."
The bill marks another step in a movement challenging the Sarbanes-Oxley law, which was passed by Congress after Enron Corp.'s accounting scandal and collapse.
An advisory panel to the U.S. Securities and Exchange Commission last month recommended exempting smaller companies from Section 404 requirements. Last week, SEC Chairman Christopher Cox said some changes were needed in the Sarbanes- Oxley law but gave no indication of what the agency might decide to do.
A SEC spokesman declined comment on the proposed House and Senate legislation .
The new bill would also call for less frequent external audits for companies that do not seek the Section 404 exemption after the first year in which attestation is required. Under the planned bill, at least 10 percent of those publicly traded companies that do no opt-out of complying with Section 404 would be subject to random external audits by the stock exchanges.
It would also set the threshold at which a transaction or process is considered "material" weakness for investors to know at 5 percent of the company's net profits.
http://today.reuters.com/investing/financeArticle.aspx?type=governmentFilingsNews&storyID=2006-0...
HBMFF (HBM) - my GTC limit order at $13 was filled today. I think someone mentioned they were seeking to be dually listed on the AMEX? I received this clarification today:
"Thanks for your note.
I must clarify something though, the Company does NOT intend to list its stock
on the Amex or any other US stock market in the immediate future. I responded to
a similar inquiry earlier today and stated that the Company MAY take a look at
the possibility of such a listing sometime this year, but that nothing was
imminent and there is no "timetable" for this. The Company will kwwp all of its
options open and this could be one of them. However, to repeat, this is not
something we anticipate undertaking anytime soon.
Sincerely,
Don Bain
Director, Investor Relations
HudBay Minerals Inc.
Tel. 204-949-4272
Fax. 204-949-8177
E-mail: don.bain@hbms.ca"
SIMC earnings out. First glance, they look very strong
Simclar, Inc. Announces Results for First Quarter 2006
Business Wire - May 15, 2006 12:04
HIALEAH, Fla., May 15, 2006 (BUSINESS WIRE) -- Simclar, Inc. (NASDAQ:SIMC), a multi-plant electronics contract manufacturer reported its results for the three months ended March 31, 2006.
Revenue for the three months ended March 31, 2006 was $21,945,161, up 78% from $12,356,600 in the same period in 2005. Approximately $6,390,000 of the growth was as a result of the acquisitions in May 2005 of Simclar (North America), Inc, and of Simclar Interconnect Technologies, Inc. in February 2006; the balance was attributable to additional business from existing and new customers.
Pre-tax income for the three months ended March 31, 2006 was $1,199,889 compared to $479,795 for the same period in 2005. The major contributors were the increased sales volumes and improvements in gross margins.
Net income for the three months ended March 31, 2006 was $719,934 or $0.11 per share, compared to $292,674 or $0.05 per share in the same period in 2005.
Simclar Chairman, Sam Russell, commented: "I am very pleased with the continued improvements in performance we started to see in the fourth quarter of 2005. Our commitment to grow organically and through strategic acquisitions is generating excellent results in sales and profitability. The recent addition of Simclar Interconnect Technologies has been well received by our customers and we anticipate significant opportunities from the added production capabilities. We are now able to provide our OEM customers with a one-stop shop for metal fabrication, cabling solutions, printed circuit board assemblies, advanced backplane interconnect solutions and higher level assemblies."
Simclar, Inc., with five North American manufacturing locations, and two regional Sales/NPI locations has been engaged in contract manufacturing of electronic and electro-mechanical products for OEMs for 30 years.
AVSO - good quarter and bullish comments. Earnings .11 basic, .07 diluted.
Avatech Solutions Reports Third Quarter Results; Record Revenues and Sixth Consecutive Profitable Quarter
Business Wire - May 15, 2006 08:00
BALTIMORE, May 15, 2006 (BUSINESS WIRE) -- Avatech Solutions, Inc. (OTCBB:AVSO.OB), the recognized leader in design and engineering solutions, product lifecycle management, and facilities management, today announced earnings for its third quarter ended March 31, 2006. Total revenues for the quarter were approximately $11 million, a 5.5% increase over the third quarter of 2005 and revenues for the nine months ended March 31, 2006 increased 17.0% over the same period in 2005. Excluding the one-time sale of developed software to a major supplier in 2005, third quarter revenues increased 29.0% from 2005 to 2006 and year to date revenues were 26.5% higher.
Net income for the quarter ended March 31, 2006 was $1,277,000 ($0.11 per share), compared with $2,025,000 ($0.18 per share) for the same period in 2005. Excluding the one-time software sale in 2005, net income for the same period last year would have been $184,000, or $0.02 per share, and for the nine months ended March 31, 2005, the company would have incurred a loss of $620,000 or ($0.06) per share. Year-to-date net income was $2,287,000 ($0.19 per share) as compared with $1,221,000 ($0.11 per share) in 2005.
"Our record revenues and improved profitability reflects the success of our strategy," said Avatech CEO Scotty Walsh. "Product sales, the core of our business, grew over 28% from the third quarter in 2005 to 2006, our services business revenues increased by 19% and our commission revenues were 40% higher than last year," continued Walsh. "Our bottom line for the quarter was exceptional due to our revenue growth and the higher profit margins from increased sales incentives from our leading supplier, Autodesk."
The Company earns sales incentives based on reaching regional sales targets provided by Autodesk and those incentives increase significantly when sales exceed 115% of target. Due to strong sales for this period, the Company earned incentives approximately $700,000 higher for the quarter ended March 31, 2006 than in the first two quarters of the current fiscal year.
"We are planning to complete our previously announced acquisition of Michigan-based Sterling Systems and Consulting during our fourth quarter of this fiscal year and expect that this transaction will significantly add to our growing revenues and profits," said Walsh. "In addition, the capital expected to be provided by our private equity partner will be sufficient to fund the Sterling acquisition and the acquisition of other similar companies to fuel our growth and expansion plans."
Avatech Solutions, Inc.
Summary Consolidated Financial Data
Three Months Ended Nine Months Ended
December 31, March 31,
----------------------------------------------------------------------
2006 2005 2006 2005
----------------------------------------------------------------------
Revenues-
Product sales $ 6,926,000 $ 5,396,000 $18,871,000 $15,028,000
Service revenue 1,836,000 1,537,000 5,563,000 4,275,000
Commission
revenue 2,251,000 1,605,000 5,258,000 4,174,000
Sale of developed
software - 1,900,000 - 1,900,000
------------ ------------ ------------ ------------
Total revenues 11,013,000 10,438,000 29,692,000 25,377,000
------------ ------------ ------------ ------------
Cost of revenues-
Cost of product
sales 3,827,000 3,173,000 11,029,000 9,778,000
Cost of service
revenue 1,308,000 1,157,000 3,706,000 3,288,000
Cost of developed
software - 59,000 - 59,000
------------ ------------ ------------ ------------
Total cost of
revenues 5,135,000 4,389,000 14,735,000 13,125,000
------------ ------------ ------------ ------------
Gross margin 5,878,000 6,049,000 14,957,000 12,252,000
Operating income 1,149,000 2,163,000 2,447,000 1,650,000
Net income 1,277,000 2,025,000 2,287,000 1,221,000
Earnings per share:
Basic $ 0.11 $ 0.18 $ 0.19 $ 0.11
============ ============ ============ ============
Diluted $ 0.07 $ 0.14 $ 0.14 $ 0.09
============ ============ ============ ============
Weighted average
common shares
outstanding:
Basic 11,585,455 10,865,042 11,231,776 10,188,717
============ ============ ============ ============
Diluted 17,338,249 14,092,635 16,610,646 13,531,523
============ ============ ============ ============
michael t-MOVI does look interesting. EPS of 1.27 v analyst estimates of .15, and a stock price of $4.78. From what I can see, earnings have been very erratic in the past. I guess management largely attributed their earnings improvement this quarter to cost cutting initiatives which have started to pay off. Management went on the record today as saying they would entertain a buyout offer from Blockbuster, etc, if it were in the shareholder's interest. Seems to me w/ over 2 billion/yr in rev and a market cap of only 150 million, MOVI would be an attractive brick and mortar acquisition for either Blockbuster or Netflix. If the company can maintain this type of profitability, MOVI could see $20+ again. However, the balance sheet is weak, and brick and mortar rental is deemed "unsexy" and in decline by the street, even though MOVI begs to differ by planning on opening 140 stores this year. Anyone have any thoughts on MOVI?
Len, what did Cramer say about EZM? I noticed it was way up a/h and decided to sell my shares for $3.22. I think this 20% jump will be short-lived
Hweb's TRCI up pre-market. 4Q EPS .21 v .15, Revs down 3.2% to 15M v 15.5M, but sees FY07 rev up 10%-15%.
Technology Research Corporation Reports Financial Results Including Record Annual Revenues and Record Fourth Quarter Earnings
Business Wire - May 05, 2006 08:30
CLEARWATER, Fla., May 05, 2006 (BUSINESS WIRE) -- Technology Research Corporation ("TRC"), (NASDAQ:TRCI), today announced revenues and earnings for its fourth quarter and fiscal year ended March 31, 2006.
Fourth quarter revenues were $15.0 million, a decrease of $.5 million or 3% from the $15.5 million reported in the same quarter last year. Net income for the fourth quarter increased $.4 million to $1.2 million compared with $.9 million for the prior year. Diluted net income per share increased $.06 to $.21 per share for the fourth quarter compared with $.15 per share for the same quarter last year.
For the full fiscal 2006 year, revenues were a record $45.6 million, an increase of $6.2 million, or 16%, over the $39.4 million of revenues in the prior fiscal year. Net income was $2.1 million for the fiscal year ended March 31, 2006, an improvement of $.1 million from fiscal 2005 results. Diluted net income per share increased $.02 from $.34 to $.36 in fiscal 2006.
Robert S. Wiggins, Chairman, President & CEO said, "Our excellent fourth quarter performance, including an all time TRC quarterly earnings record, combined with our strong third quarter, allowed the Company to overcome a slow start in the first two quarters of the fiscal year. This outstanding second half achievement resulted in the Company exceeding last year's net income as well as contributing to our significantly improved balance sheet. We were able to achieve these results in spite of incurring more than $.3 million in legal fees related to the patent infringement lawsuit, which was initiated during fiscal 2006. Our strong performance in fiscal 2006 generated significant cash flow from operations. Cash and short-term investments increased $1.8 million over our balances at the close of our previous fiscal year, while total debt declined $2.4 million to $3.0 million during the same period." Wiggins added, "Our financial results are a reflection of the Company's dedication and commitment to controlling costs despite the intensely competitive nature of the markets in which our business operates, as well as the increases in our raw material costs we experienced, especially the 60% increase in copper prices over this past year. Improved operating efficiencies helped us to maintain our gross profit percentage within 1% of the previous year."
With respect to fiscal 2007, TRC is forecasting revenues to increase 10 to 15% from fiscal 2006 levels with the largest increases in the international and U.S. commercial markets. Military revenues are expected to remain steady but slightly lower than our outstanding fiscal 2006 results. Room air conditioner revenues are forecasted to be at approximately the same level as in fiscal 2006, however, the Company plans to introduce a lower cost technology for the room air conditioner market that should improve our competitive position. Operating expenses are estimated to grow at approximately the same rate as our revenues reflecting increased investments in new products and markets that are expected to accelerate growth in fiscal 2008. Based on these forecasts, net income should increase at a rate at or above our revenue growth rate. From a balance sheet perspective, we are planning to generate positive cash flow from operations that will allow us to continue paying down our debt as well as funding strategic growth for our future. TRC intends to introduce several new products in fiscal 2007 that will not only advance our leadership in electrical safety products with additional features and functionality but will also provide us with new, competitive low-cost alternative solutions that the market is demanding. In summary, fiscal 2007 is expected to be a year where the Company makes key investments for the future while achieving sustainable growth in revenues and earnings. This guidance will not be updated during the year unless there is a significant change in forecasts. From a quarterly perspective, as many investors are aware, TRC's revenues tend to be seasonal in nature, mostly as a result of the seasonal nature of our room air conditioner business. The highest demand for most of our room air conditioner products runs from November through March when manufacturers are preparing for building units for the upcoming season. The Company's fiscal third and fourth quarters are the highest revenue quarters while the first and second quarters usually have relatively lower revenues. TRC believes that the best measure of our success is from year-to-year rather than from quarter-to-quarter.
The fourth quarter dividend of $.015 per share was paid on April 21, 2006 to shareholders of record on March 31, 2006.
TRC is an internationally recognized leader in electrical safety products that prevent electrocution and electrical fires and protect against serious injury from electrical shock. Based on its core technology in ground fault sensing, products are designed to meet the needs of the consumer, commercial and industrial markets worldwide. The Company also supplies power monitors and control equipment to the United States Military and its prime contractors.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Some of the statements in this report constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. These statements are related to future events, other future financial performance or business strategies, and may be identified by terminology such as "may," "will," "should," "expects," "scheduled," "plans," "intends," "anticipates," "believes," "estimates," "potential," or "continue," or the negative of such terms, or other comparable terminology. These statements are only predictions. Actual events as well as results may differ materially. In evaluating these statements, you should specifically consider the factors described throughout this report. We cannot be assured that future results, levels of activity, performance or goals will be achieved.
TECHNOLOGY RESEARCH CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three months ended Year ended
March 31 March 31 March 31 March 31
2006 2005 2006 2005
---- ---- ---- ----
Operating revenues:
Commercial $10,926,096 12,191,321 32,250,339 27,022,170
Military 4,100,984 3,255,177 13,369,478 12,269,581
Royalties - 81,583 - 141,596
---------- ---------- ---------- ----------
15,027,080 15,528,081 45,619,817 39,433,347
---------- ---------- ---------- ----------
Operating expenses:
Cost of sales 11,309,616 12,530,375 34,977,728 29,618,620
Selling, general,
and administrative 1,723,886 1,484,888 5,967,076 5,138,838
Research,
development and
engineering 511,094 501,062 1,955,345 2,034,387
---------- ---------- ---------- ----------
13,544,596 14,516,325 42,900,149 36,791,845
---------- ---------- ---------- ----------
Operating income 1,482,484 1,011,756 2,719,668 2,641,502
Interest and sundry
income (expense) (51,296) (37,188) (195,655) (17,465)
---------- ---------- ---------- ----------
Income before
income taxes 1,431,188 974,568 2,524,013 2,624,037
Income tax expense 193,485 116,687 412,050 611,528
---------- ---------- ---------- ----------
Net income $ 1,237,703 857,881 2,111,963 2,012,509
========== ========== ========== ==========
Net income per common
share:
Basic $ .21 .15 .37 .35
Diluted $ .21 .15 .36 .34
Weighted average
number of common
shares outstanding:
Basic 5,805,637 5,762,563 5,786,129 5,754,816
Diluted 5,859,660 5,891,856 5,833,947 5,954,052
Dividends paid $ .015 .015 .060 .060
TECHNOLOGY RESEARCH CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(a)
March 31 March 31
ASSETS 2006 2005
---- ----
Current assets:
Cash and cash equivalents $ 2,607,011 815,411
Short-term investments 500,415 487,072
Accounts receivable, net 10,729,579 13,114,548
Inventories 9,632,873 11,460,302
Prepaid expenses and other current
assets 210,274 514,922
Deferred income taxes 445,262 488,413
---------- ----------
Total current assets 24,125,414 26,880,668
---------- ----------
Property, plant and equipment 14,284,279 13,560,106
Less accumulated depreciation 9,345,604 8,089,950
---------- ----------
Net property, plant and equipment 4,938,675 5,470,156
---------- ----------
Other assets 69,807 96,004
---------- ----------
$29,133,896 32,446,828
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $ 1,000,000 3,000,000
Trade accounts payable 4,848,934 7,970,920
Accrued expenses 1,296,271 1,327,944
Dividends payable 101,111 100,175
Income taxes payable 357,432 112,239
---------- ----------
Total current liabilities 7,603,748 12,511,278
Long-term debt, less current portion 2,000,000 2,350,000
Deferred income taxes 244,058 378,143
---------- ----------
Total liabilities 9,847,806 15,239,421
---------- ----------
Stockholders' equity:
Common stock 2,982,811 2,955,641
Additional paid-in capital 8,770,246 8,483,237
Retained earnings 7,573,178 5,808,674
Treasury stock, 21,500 shares at cost (40,145) (40,145)
---------- ----------
Total stockholders'
equity 19,286,090 17,207,407
---------- ----------
$29,133,896 32,446,828
========== ==========
Knowledge, nice timely alert on IMOS' earnings yesterday. Up 65 cents to $8 today...