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Len,
Here's a link to the SEC EDGAR website that has their latest 10-Q on file.
http://www.sec.gov/Archives/edgar/data/885538/000110465906075165/a06-21745_110q.htm
Here's a link with the rest of their filings before the reverse merger with Aldabra:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000885538&owner=include&c...
Here is a link with the company's filings after the merger:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001372020&owner=include&c...
Good luck to all...
GLDD - Not sure if this one exactly matches the qualifications for the board. In their last quarter, they posted a slight loss on lower revenues, however, over the last twelve months they've posted a $3 million profit.
On January 4 they completed a reverse merger (IPO) with Aldabra Acquisition Corporation, a special acquisition corp.(SPAC) to become a public company. Here's a little blurb on what they do: Great Lakes Dredge & Dock Corporation provides dredging, and commercial and industrial demolition services in the United States.
Prior to their last quarter, they were growing revenues at a 20% growth rate. In their last quarter, revenues fell short of results posted from their previous quarters due to the timing of mobilizations to the company’s new project in Bahrain and several domestic projects, dry dockings on certain vessels and the inability to work on certain beach projects due to typical environmental window restrictions during this time of the year.
The outlook for the remainder of the year, though, was very positive:
- In addition the domestic bidding activity continued to strengthen in the third quarter and there is still work scheduled to be bid in the fourth quarter, including LNG work that should provide opportunities to add to backlog in the upcoming months. Currently, there is adequate backlog and contracts pending award at September 30, 2006 to produce a robust fourth quarter including the start up of Diyaar, environmental window work and the new LNG terminal project.
Here is some backlog information:
-Dredging backlog at September 30, 2006 was $350.3 million. This compares to $286.8 million at June 30, 2006 and $266.0 million at September 30, 2005.
- In addition, the Company’s September 30, 2006 recorded backlog does not reflect approximately $230 million of low bids pending award and other options pending on projects currently in backlog, including approximately $156 million for the second phase of the Diyaar contract in Bahrain.
Other financial stats:
-Based on LTM(last twelve month) results from March 31, 2005, Net Income margins have steadily improved from -5.1% to .6% currently. EBITDA margins have steadily improved from 7.6% to 12.7% and have historically reached levels of 15%.
-The company is heavily levered, with debt at $251.1 million at quarter end (9/30/2006). However, they used $50 million fo the merger proceeds to pay down long-term debt, which will also dramatically lower interest costs and improve profitability. They also have a history of paying down debt with cash flows earned from operations.
-After the merger, they have approximately 40 million shares of common stock outstanding
-Industry-wise, they should benefit from higher oil & gas activity with work on LNG terminal projects. They will also benefit from the expansions of ports across the world as well as the addition of new ports as global trade grows. They also provide maintenance to ports. They could also benefit from increased beach nourishment projects after storms hit coastline areas.
Overal, given their improving margins, backlog, debt situation, and the favorable industry outlook, I feel that this one should be seriously looked at. I am invested in the warrants, which trade which trade on the NASD as well with a $5 strike price and a February 17, 2009 expiration date. Currently the common stock trades at $6.88 with the warrant trading at $1.91, which in my opinion would be the better buy given the time left before expiration and the company's potential in the next few quarters. I'm in at an avg. of $1.93, so no better than whats available now. Also, the company is going to report year-end results this friday with the common stock trading strongly the past few days.
Let me know what you guys think. Good luck to all...
JACO - Wow, maybe I should've held on to my JACO shares instead of selling this morning. Up to $4.49 now. Thats a extremely strong move considering it only earned 2 cents a share... Oh well. Hopefully, all of our micro's will act this well or better when they announce results. Good luck to all...
Hweb - Picked up some JACO (2500 shares @3.35 avg.)the past two days after your post yesterday. Results tomorrow should be good. They've been improving margins steadily for the past several quarters and the new credit facility's rate is over 120 bp lower than their previous debt, which will result in annual saving to about .06 per share. Hopefully tomorrow morning will be exciting... Good luck to all...
I've also been adding some KRSL shares below $11.00 the past few days when available. Earnings should be out sometime next week. What kind of results are you expecting?
CNRD - Excellent news yesterday afternoon with the announcement of new contracts for several barges. Backlog is at $83 million, which is significantly higher than the $35.4 figure at December 31, 2005 and higher than $60.3 million at September 30, 2006, but down since their last contract announcement of $93 million on November 15, 2006. Seems to be a lot of volume here around $5.90 without any price movement which could indicate significant accumulation. I'm surprised the price didn't get over $6. Like hweb mentioned, Q4 and Q1 results should be very good. Good luck to all...
CNRD - Added some more CNRD here at $5.40... Anyone else here buying at these prices? Good luck to all...
Nothing new. Took some time a week or two ago to reread their financials and I still like what I see. The growth has been incredible the past few quarters and the additions to backlog should support growth in the future. Their repair business seems to be where they make most of their operating income with their shipbuilding operations having really slim margins. I would like to see margins improve in that area, and I believe with the new contracts that they've been signing that adjust along with steel prices should help them improve their margins in the future. In the past they were hurt by increasing steel prices over the time of the shipbuilding process. In my opinion, if we see margins improve in this area, we could really be holding a gem...
I also wouldn't mind seeing them on a larger exchange, but I really dont see that happening considering they delisted in 2005... Good luck to all...
Swank (SNKI) hits $10.00!!! I've been waiting for this day for a while. I remember back in the day when Swank was trading below 3... Got a chance to build a nice position at that price but sure wished I had loaded up. Oh well, you live and learn. I'll be holding at least until the year-end number come out. It wouldnt be too suprising to see them post close to $1.00 a share for the quarter. If it does announce great results, this one might be one I hold for a while... Good luck to all...
Picked up some more KSW under 6.70 on the dip today. I feel its a little bit of an overreaction to the director resignation news. Just saw a bid of over 45k shares @ 6.70 so I think we'll see some support in this area. Also picked up some more SNKI and KHDH while I was at it. Good luck to all...
HIHO up 10% on strong volume to $4.22. Anyone know what the reason behind the strong move???
UVIH - Bought back some UVIH @ $2.70. Has fallen a bit from hitting 4 bucks last month. The end of this year and the first half of next year should be record quarters for the company. I believe they could hit $.15 a quarter fully taxed sometime next year. TCHC has rebounded a bit today, interesting to see that UVIH hasn't followed suit... Well, hopefully now that I'm back in.... Good luck to all...
Come on guys, I didn't expect you all to buy into it right away. I was hoping to pick up some more shares in the 5.20's...
Hopefully next time I'll be smart enough to load up all my shares before I mention something...
And mandjb, hope I didn't steal your thunder with this one, I'll give credit to the initial find to you. Hope everyone makes good money off this one. Good luck to all...
CNRD - Forgot to mention that after announcing contracts for two new tugboats, they reported a record backlog of $93 million.
Conrad Industries, Inc. (OTC Pink Sheets: CNRD - News) announced today the signing of two contracts for construction of two 98', Z-Tech 7500 Class Terminal/Escort Tugs with Bay-Houston Towing Co. and Suderman & Young Towing Company, L.P. These ABS classed tugs will provide harbor tug services for LNG vessels calling at the Freeport LNG terminal which is currently under construction in the Port of Freeport, Texas. G&H Towing Company of Galveston, Texas will operate the two tugboats.
Johnny Conrad, President and CEO, stated, "We are excited to add Bay- Houston and Suderman & Young as customers. These two new contracts are scheduled to be constructed at our Orange Shipbuilding facility which has constructed sixty-five tugs and towboats since 1974. With these additions, our current backlog is at a record high of approximately $93 million."
Good luck to all...
CNRD - Conrad Industries, Inc.
Came across this company searching for another SNKI-type investment.
Here's a little blurb on what they do: Conrad Industries, Inc. engages in the construction, conversion, and repair of various marine vessels for commercial and governmental customers in the United States. It also engages in the fabrication of modular components of offshore drilling rigs; and floating, production, storage, and offloading vessels. The company constructs various steel and aluminum marine vessels, including large and small deck cargo barges, single and double hull tank barges, lift boats, push boats, towboats, offshore tugboats, and offshore supply vessels.
They have had a lot of growth in the past year due to increased work with energy companies in the Gulf of Mexico and repair work resulting from Hurricane Katrina. However, they are listed on the pinks and dont report to the SEC. Their financial filings are available on www.pinksheets.com if you are interested.
The company earned $.19 a share last quarter with revenue growth of 97%. The stock is currently trading at $5.17... Check it out. Good luck to all...
Quick question with M F C A F... Could you share some of the details regarding its listing. I'm thinking about adding some M F C A F shares and I believe its trading at $2.60. Are those the shares that are going to be listed? or am I missing something??? Thanks in advance...
Good day for KHDH holders, up 8+% to $40.00!!!!
KHD Humboldt Wedag International Ltd. Completes US$257 Million Credit Facility
Thursday November 30, 7:30 am ET
- Also Sells Its Banking Subsidiary and Buys Back 790,000 Shares -
HONG KONG, Nov. 30 /PRNewswire-FirstCall/ -- KHD Humboldt Wedag International Ltd. ("KHD") (Nasdaq: KHDH - News) announces that it has obtained a US$257 million (EUR195 million) credit facility.
The credit facility was syndicated with the lead arranger, Raiffeisen Zentralbank Osterreich AG, Vienna, Austria. With this facility, KHD has the financial capacity to provide the guarantees and bonds required to capitalize on market dynamics and to continue with its growth plans.
Jim Busche, CEO of KHD, commented, "This is a major building block for our future. It was only two years ago that the company's credit facility amount was limited. We are extremely pleased as it allows us to pursue projects in all of our international markets. We thank all of the participating banks for their support, especially Raiffeisen Zentralbank Osterreich AG and its team."
KHD also announces the continuing monetization of its non-core assets. KHD has sold its banking subsidiary to Mass Financial Corp. ("Mass"), KHD's former subsidiary that was distributed to its shareholders in January, 2006. The sale price is at KHD's carrying value and will require certain regulatory approvals.
In addition, we repurchased, as part of the sale of the Bank, from Mass 790,000 of our common shares of KHD at the initial price of $34.88 a share, and will retire them, which has reduced our shares outstanding by 5.2 percent.
Michael Smith, Chairman of KHD, stated, "We are working to fulfill our goal of divesting ourselves of the legacy assets and having KHD with no significant amount of fixed assets. This business model will allow KHD to grow without substantial capital requirements."
KHDH - Chance to pick up some cheap KHDH shares. Traded down $1.25 to 36.96 on low volume...
EFUT - Has anyone looked at EFUT recently... I think someone here posted something about it when it was trading at $10 or so last week. Now its over $42... At this point is it a reasonable short candidate??? Good luck to all...
HURC - Here is a report that should bode well for HURC:
WASHINGTON, Nov 12 (Reuters) - U.S. September machine tool demand rose strongly from a year earlier and also increased from August, two trade groups said in a report released on Sunday.
The American Machine Tool Distributors' Association (AMTDA) and the Association for Manufacturing Technology (AMT) said total U.S. September machine tool demand stood at $407.21 million, up 43.1 percent from $284.47 million in September 2005.
September demand was also 31.9 percent higher than the $308.81 million estimate for August. August demand was revised upward from $300.15 million reported a month ago.
"Strong sales at September's International Manufacturing Technology Show pushed year-to-date consumption to its largest lead over 2005," AMTDA President John Healy said in a statement.
"It now looks likely that 2006 will post the best results for U.S. investment in advanced manufacturing equipment since 2000," Healy said.
Total U.S. machine tool demand in the first nine months of this year stood at $2.815 billion, up 26.2 percent from $2.231 billion in the same 2005 period.
September demand for machine tools surged 63.8 percent in the Midwest and rose 43 percent in the Central region. It increased by 22.6 percent in the Northeast and by 10.2 percent in the West. But September demand dipped 7.1 percent in the South, according to the report.
Demand for machine tools, which are used to shape metal for products such as car engines and refrigerators, can give a sense of pace of manufacturing, as it reflects how much industries are investing in production equipment.
Earlier this month the Labor Department said U.S. October factory jobs fell by 39,000, a fourth straight monthly decline, while the Commerce Department revised U.S. September durable goods orders to an 8.3 percent rise from 7.8 percent.
The machine tools report is generally based on a survey of about 200 manufacturers, distributors and importers of machine tools that represent 76 percent of the machine tool market.
HURC - What is everyone's opinion here on Hurco. I'm anticipating a strong fourth quarter from them benefiting from extra order from the IMTS show in Chicago this past September. I believe analysts are expecting around $.60 a share in earnings. Would not be surprised if they beat those numbers. For some reason, the stock has been quite weak lately, especially today. Any comments???
I sent them an email in May asking them if they were considering moving to a better exchange and I recieved this reply:
Thank you for your inquiry. We have considered listing on a different exchange but at present, it is unclear as to whether or not the company would satisfy the initial listing requirements for either AMEX or NASDAQ. There are other issues - for example, the costs associated with such an exchange listing - that also must be considered before we make any final decisions.
Thank you again. We appreciate your interest in the company.
Jerry Kassner
Swank, Inc.
656 Joseph Warner Boulevard
Taunton, MA 02780
Tel 508-977-4484
Fax 508-977-4403
Email jkas@swankinc.com
Just purchased some more after reading the results, which were much better than I could have imagined... Should see this one hit a new high today.
Good luck to all...
Swank, Inc. (SNKI) breaking out today up to $4.70. Given the strength in the retail market and the additional product lines for Swank this year, this fiscal year in my opinion will easily see over $1 in EPS. It wouldn't even suprise me to see EPS of anywhere between $1.25 and $1.50. Glad I was able to load up some under $3... Good luck to all...
A lot of early buying in UVIH, looks like it wants to break out... Good luck to all
Wade, first off, congrats on your amazing run the past two years.
However, I have to disagree with your simplistic judgement of UVIH based on this past quarter's results. First, there was a $2.2 million dollar charge related to 2004's storms which is non-recurring. Without that charge, the company earned $.11 untaxed. With a 40% tax rate, that gives you about 6.5 cents a share in EPS. Another thing you need to recognize with UVIH is that they lowered their ceding percentage for reinsurance until June 2007, meaning they will have higher net premiums in the coming quarters. They basically took a gamble that this years hurricane season would be quiet. And to date, it has which should pay off for them in the coming quarters.
Another important factor to consider is that they have over $68 million in cash on the books with an increase of divident from 4 cents to 5 cents. At 1.57, their market cap is only $60 million.
Overall, given the lack of devastating hurricanes this season, UVIH is bound to rake in a ton of cash in the coming months. Thats my take at least... Good luck to all...
UVIH - What's with the huge sudden selloff in UVIH??? Anyone know what's up?
NGA - What is everyone's opinion of NGA at this point. They're main comparable company, AZZ, is within reach to hit a 52 wk high while NGA seems to be struggling to keep up. Based on AZZ's performance and strength, I have to believe that the galvanizing business has remained strong. With the $1 Million prepayment of the 10% note, they seem to be in better financial shape then before and must be generating enough cash from ops to do so. With $.18 eps last quarter, I feel there is support for a higher share price. What do you guys think???
What are the favorite mining stocks on this board? Which ones have the best opportunity for growth??? I know of HBM, EZM, and LIM; are there any others that have the same potential? Thanks in advance...
Chris
SNKI - Swank announced their 2nd quarter results yesterday afternoon and posted net income of about $1 million as compared to $90 thousand in 2005. This gives them a trailing twelve month EPS of about $0.93 for a $3.05 stock. Thats only a 3.3 PE. Earnings this full year should also be improved over last year with the addition of new product lines. Wouldn't be surprised to see full year earnings well over a dollar a share... Good luck to all...
NEW YORK, NY, Aug 08, 2006 (MARKET WIRE via COMTEX) -- John Tulin, President of SWANK, INC., (the "Company" or "Swank") (PINKSHEETS: SNKI), today reported net sales and operating results for the Company's second quarter and six months ended June 30, 2006:
The Company's net income for the quarter ended June 30, 2006 was $976,000 compared to net income of $89,000 for the corresponding quarter last year. For the six-month period, the Company's net income was $1,000,000 compared to a net loss of $782,000 for the six months ended June 30, 2005.
Net sales for the quarter ending June 30, 2006 were $26,447,000, an increase of $4,422,000 or 20% compared to the quarter ending June 30, 2005. For the six-month period ending June 30, 2006, net sales totaled $48,614,000, an increase of $7,346,000 or 18% compared to the corresponding period last year. The increase during both the quarter and six-month periods was principally due to increased shipments of the Company's jewelry and belt merchandise and a more favorable adjustment for customer returns, offset in part by increases in in-store markdown expenses. Net sales of the Company's men's jewelry merchandise increased 13% and 31% during the quarter and six-month periods ending June 30, 2006, respectively, compared to the corresponding prior year periods. These increases reflect the continued strong demand for both the Company's private label and branded jewelry collections that has been driven largely by men's fashion trends. Belt net sales increased 29% and 24% for the quarter and six-month periods, respectively, due mainly to increases in certain private label shipments in connection with both new business opportunities and expansion of market share associated with existing programs. During the quarter, we commenced significant shipments of our new Nautica collection of men's accessories and further enhanced our position at several major retailers, substantially increasing both private label and branded merchandise shipments to those accounts.
Included in net sales for both the quarter and six months ending June 30, 2006 and 2005, are annual second quarter adjustments to record 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 $1,248,000 for the three-month and six-month periods ended June 30, 2006, compared to $814,000 for the comparable periods in 2005. The Company's actual return experience during both the spring 2006 and spring 2005 seasons was better than anticipated principally due to lower than expected returns for men's belts and personal leather goods. During the past few seasons, the Company has reduced customer returns by assisting retailers in promoting excess and discontinued merchandise following the holiday season to accelerate retail sales of these goods.
Gross profit for the quarter ending June 30, 2006 increased $1,317,000 or 18% and for the six-month period, increased $2,500,000 or 18%, in each case as compared to the corresponding periods last year. Gross profit expressed as a percentage of net sales for the quarter was 33.3% compared to 34.0% last year and, for the six-month period, increased to 33.2% from 33.0% compared to the same period in 2005. The increase in gross profit during both the quarter and six-months ending June 30, 2006 was primarily due to increases in net sales, reductions in certain inventory-related expenses, and the annual returns adjustment, offset in part by lower average initial margins, principally for men's belts. The reduction in belt average initial margin is mainly associated with a number of certain new private label programs shipped during the quarter and six-month period which generally carried somewhat lower initial markups compared to branded merchandise. However, the net margins on these merchandise collections are typically comparable to that of other programs since such merchandise is frequently less promotional than branded products and is not subject to royalty or other license-related obligations. The decrease in inventory-control costs is due mainly to a reduction in markdowns associated with sales of out of line belts, as well as lower import-related costs associated with the Company's efforts to reduce shipping and other inventory procurement expenses.
Commenting on the results for the quarter and year to date periods, John Tulin, President, said "The Company's positive results for the quarter and year reflect stronger sales stemming from the growth of our business through exciting new brands and merchandise collections, as well as from market-share gains with established customers. During the second quarter, we began shipping our new Nautica collection of men's accessories, and we expanded our position with certain retailers, particularly in our belt product line. We also look forward to shipping our new Donald Trump collection of men's jewelry, our Ted Baker collection, and our Chaps line of men's jewelry and gifts later this fall. While we are cautiously optimistic with regard to the upcoming holiday season, we are planning conservatively as we remain concerned over the effects that higher energy prices and the ongoing conflicts in the Mideast could have on consumer spending later this year."
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, belts and personal leather goods. 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", "Geoffrey Beene", "Nautica", "Claiborne", "Guess?", "Chaps", "Pierre Cardin", "Field & Stream", "City of London", "Ted Baker", and "Swank". Swank also distributes men's jewelry and leather items to retailers under private labels.
SOURCE: Swank, Inc.
MEA -
Second quarter results should be out tomorrow morning. Based on the strong results announced by other metal recycler such as CMC, SCHN, MTLM, this quarter should be strong for them as well. Just today, IDSA announced 90% revenue growth over 2005 in their metal recycling segment.
This quarter's earnings will also contain a gain from the sale of Gulf Coast, one of their subs which should make the earnings look even better compared to last year's. So it should be interesting to see how the stock reacts tomorrow after results, so keep it on your radar screens. Good luck to all...
MEA - I'm surprised to see that MEA's share price hasn't performed very strongly since their last earnings report. I think it will be important to see how SCHN does when they report on Monday. It should give us another look into how metal recyclers have been doing lately. In late June CMC posted strong metal recycling results with revenues increasing 61% in that division. Based on those results, I could see MEA having a very strong quarter.
Keep in mind they will also be recording a gain on the sale of their Gulf Coast Recycling subsidiary this quarter according to their last 10-Q. That should make earnings even better than normal. Last year they earned about $.05 a share in the second quarter which means they should have an easy comp for this quarter based on first quarter's $.11 a share.
Hweb, I know you have some shares but does anyone else here own any MEA??? Unfortunately a large portion of my portfolio is already in MEA otherwise I'd definitely be picking up more shares in the low 5's...
Good luck to all
re-SIMC:
It's blown past $10 surprisingly quickly. Was expecting it to fall back down to $8.50 or so after that quick runup it had earlier this week. Had planned on adding more shares at that level after selling half around $9.50. Glad to see that so many took advantage of my earlier post about good old "Note 13" right after the 10-Q came out. Good luck to all.
SIMC's quarterly results only include a portion of the operations from their latest acquisitions of Litton and SNAI. According to note 13 of their 10-Q, they estimate that had the acquisitions occured at the beginning of 2006, sales would have been $31,500,000 with eps of .22! Add that to the fact that last year's 2nd Q only had sales of $14 million and eps of .034, I feel that SIMC still has plenty of room to go before the year is up.
I've been a long-time follower of this board and this is my first post. I must say I enjoy reading this board and it has provided a nice boost to my portfolio the past year or so. Good luck to all...