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CHID down 32%....overreaction?
Niles/MKRS - They continue to deliver and management has indicated that they will begin to issues PRs in the near future, which should help the stock get more exposure....currently, the exposure is nil. I continue to accumulate and fully expect to double my money before yearend (and that doesn't include the double I already have since purchasing at $0.22).
KR
10K is out...excerpt:
2006 vs. 2005
Total contract revenues in 2006 were $2,274,868 compared to $1,549,669 in 2005, an increase of 46.8%. Contract revenues in both years were derived entirely from SBIR contracts. The increase was due to increased billings on the Phase III SBIR contract and revenues from the RWSE Phase II contract which was awarded in May 2006. Additionally and as a result of these contracts, our cost of sales increased from $932,717 in 2005 to $1,361,255 in 2006, an increase of approximately 45.9%.
General and administrative expenses were $429,391 in 2006 compared to $305,317 in 2005. These expenses increased due to higher costs incurred for administrative salaries and bid and proposal consultants, and related costs.
Engineering expenses were $324,357 in 2006 compared to $229,610 in 2005. The increase in engineering costs for the year ended December 31, 2006 was due to the RWSE Phase II contract and rental and related costs associated with the lease of our research and development office located in Fort Washington, Pennsylvania.
Income from operations increased to $159,865 in 2006 as compared to $82,025 in 2005. The increase resulted primarily from our revenue and cost of sales increasing approximately 46% and our operating expenses increasing only 41%. Net income remained essentially constant in 2006 as compared to 2005. Specifically, we realized net income of $129,800 in 2006 compared to net income of $134,525 in 2005. This was primarily attributable to the Company reversing a larger portion of its valuation allowance against its deferred tax assets associated with available net operating loss carryforwards during 2005 and 2006.
MKRS 10K out....excerpt:
2006 vs. 2005
Total contract revenues in 2006 were $2,274,868 compared to $1,549,669 in 2005, an increase of 46.8%. Contract revenues in both years were derived entirely from SBIR contracts. The increase was due to increased billings on the Phase III SBIR contract and revenues from the RWSE Phase II contract which was awarded in May 2006. Additionally and as a result of these contracts, our cost of sales increased from $932,717 in 2005 to $1,361,255 in 2006, an increase of approximately 45.9%.
General and administrative expenses were $429,391 in 2006 compared to $305,317 in 2005. These expenses increased due to higher costs incurred for administrative salaries and bid and proposal consultants, and related costs.
Engineering expenses were $324,357 in 2006 compared to $229,610 in 2005. The increase in engineering costs for the year ended December 31, 2006 was due to the RWSE Phase II contract and rental and related costs associated with the lease of our research and development office located in Fort Washington, Pennsylvania.
Income from operations increased to $159,865 in 2006 as compared to $82,025 in 2005. The increase resulted primarily from our revenue and cost of sales increasing approximately 46% and our operating expenses increasing only 41%. Net income remained essentially constant in 2006 as compared to 2005. Specifically, we realized net income of $129,800 in 2006 compared to net income of $134,525 in 2005. This was primarily attributable to the Company reversing a larger portion of its valuation allowance against its deferred tax assets associated with available net operating loss carryforwards during 2005 and 2006.
GACF - $0.61...30% haircut...400k volume so far
GACF/SkillZ - I'm glad I dumped it back then at a tiny loss at $1.06.....should have dumped it in PSL5 as well, but I care more about my 'real' money. Oh well.
KR
10K filing extended to April 16....
From filing:
The Company is in the process of completing its audited financial statements, and believes that the subject Annual Report will be available for filing on or before April 16, 2007.
sorry to disappoint, but that is old news....site has looked like that since December.
MKRS UPDATE from SI board
My Two Cents…
Myself and Dingdong (from the Raging Bull Board) were graciously given three hours of time with the powers that be at Mikros. They were finishing up their board of directors meeting so we also got some face time with three of the Directors, Admiral Meyer, Paul Cassner and Tom Schaffnit. It was very educational. Dingdong may have different impressions, but here are mine.
Both ADEPT and the Wireless Project are moving forward, and all involved are very excited about the prospects of each program. They were very constrained in talking specifics because of the pending 10k release. I can tell you there are a lot of very bright people involved with this company, and while they have not been very communicative in the past they have their reasons. There is some painful history with the Safeguard and Lucent deal that went south when they dabbled in the commercial side of development, and they have no intention of making those mistakes again. They recognize that they have not been very communicative (other than the website), and to a person said they are now in a position to provide more updates to the investment community via PR’s. Ding and I had the same message to each person that gave us the opportunity, COMMUNICATION and PR’s.
Their bread and butter is the DoD, and they are going to ride that horse. They believe they are doing the right thing. They have to have a viable product, and they are very close. Until now their resources (limited capital) were/are going to be spent on development. Without a product they have no sales, and ultimately the PPS will rise (and stay there) when their product meets the requirements of the Navy. I was surprised to learn that although you may get “approval” on your Phase II development the SBIR does not fund Phase III. Mikros has to go out and “find the money”. That is one helluva task, and Tom Meaney and Mikros management deserve kudos for navigating through this process. When they receive those monies they need to be very judicious in how those $$$ are spent as they go through development, and continue to look for more money. While no numbers were talked about it was my impression that they feel relatively confident they have more dollars lined up, and that combined with the developments of ADEPT will allow them to start marketing Mikros to the investment community.
Individually, my impression is TM is the guy that has the connections through the Navy and Congress to secure the funding. Dave Bryan strikes me as an extremely intelligent individual who is in charge of organizing the development of ADEPT and the RWSE project. They both have very close ties to their production partners at Lockheed and DRS Technologies. Director, Paul Cassner, is a bright man, who has already built a company from ground up that was eventually acquired by a large DoD contractor, and his experience will be invaluable as Mikros moves forward.
It was an honor to meet Admiral Meyer, and he is a very down to earth gentleman. There is no question he knows the AEGIS ships, and both the Navy and Congress respect his thoughts and ideas. We are lucky to have a man of his stature on the Board.
From a funding and development standpoint Mikros’ ADEPT™ took a long time to gain acceptance within the Navy, but that has grown continually as the company has explained and developed the technology. The snowball is rolling downhill and gaining momentum. The applications of ADEPT are outlined in the Success Story, and MY guess is this will represent $35MM in revenue from the Navy alone. Their plan appears to be to move horizontally through the other branches of the military after the Navy, but these are all my opinions.
The RWSE wireless project has not had these same hurdles as the need is very apparent. The Navy is looking for fixes, and while we are still early on in the process Mikros believes they have a viable solution. The company may only be six months away (my guess) from providing the solution, which would then lead to a Phase III award, and funding. The company has an expert in this field that also sits on the Board in Tom Schaffnit. The wireless project could ultimately be BIGGER than ADEPT.
In summary, I believe the company is doing an excellent job, and have been marshalling their resources the most effective way possible. However from an investors stand point they need more visibility. The company did make that commitment to us. While they will not become a PR machine, they said they are now ready to tell their story, and will begin releasing news via PR’s on a more consistent basis. Buckle up folks. This should be a very interesting 2007.
Just my two cents.
Tom
MKRS UPDATE from SI board
My Two Cents…
Myself and Dingdong (from the Raging Bull Board) were graciously given three hours of time with the powers that be at Mikros. They were finishing up their board of directors meeting so we also got some face time with three of the Directors, Admiral Meyer, Paul Cassner and Tom Schaffnit. It was very educational. Dingdong may have different impressions, but here are mine.
Both ADEPT and the Wireless Project are moving forward, and all involved are very excited about the prospects of each program. They were very constrained in talking specifics because of the pending 10k release. I can tell you there are a lot of very bright people involved with this company, and while they have not been very communicative in the past they have their reasons. There is some painful history with the Safeguard and Lucent deal that went south when they dabbled in the commercial side of development, and they have no intention of making those mistakes again. They recognize that they have not been very communicative (other than the website), and to a person said they are now in a position to provide more updates to the investment community via PR’s. Ding and I had the same message to each person that gave us the opportunity, COMMUNICATION and PR’s.
Their bread and butter is the DoD, and they are going to ride that horse. They believe they are doing the right thing. They have to have a viable product, and they are very close. Until now their resources (limited capital) were/are going to be spent on development. Without a product they have no sales, and ultimately the PPS will rise (and stay there) when their product meets the requirements of the Navy. I was surprised to learn that although you may get “approval” on your Phase II development the SBIR does not fund Phase III. Mikros has to go out and “find the money”. That is one helluva task, and Tom Meaney and Mikros management deserve kudos for navigating through this process. When they receive those monies they need to be very judicious in how those $$$ are spent as they go through development, and continue to look for more money. While no numbers were talked about it was my impression that they feel relatively confident they have more dollars lined up, and that combined with the developments of ADEPT will allow them to start marketing Mikros to the investment community.
Individually, my impression is TM is the guy that has the connections through the Navy and Congress to secure the funding. Dave Bryan strikes me as an extremely intelligent individual who is in charge of organizing the development of ADEPT and the RWSE project. They both have very close ties to their production partners at Lockheed and DRS Technologies. Director, Paul Cassner, is a bright man, who has already built a company from ground up that was eventually acquired by a large DoD contractor, and his experience will be invaluable as Mikros moves forward.
It was an honor to meet Admiral Meyer, and he is a very down to earth gentleman. There is no question he knows the AEGIS ships, and both the Navy and Congress respect his thoughts and ideas. We are lucky to have a man of his stature on the Board.
From a funding and development standpoint Mikros’ ADEPT™ took a long time to gain acceptance within the Navy, but that has grown continually as the company has explained and developed the technology. The snowball is rolling downhill and gaining momentum. The applications of ADEPT are outlined in the Success Story, and MY guess is this will represent $35MM in revenue from the Navy alone. Their plan appears to be to move horizontally through the other branches of the military after the Navy, but these are all my opinions.
The RWSE wireless project has not had these same hurdles as the need is very apparent. The Navy is looking for fixes, and while we are still early on in the process Mikros believes they have a viable solution. The company may only be six months away (my guess) from providing the solution, which would then lead to a Phase III award, and funding. The company has an expert in this field that also sits on the Board in Tom Schaffnit. The wireless project could ultimately be BIGGER than ADEPT.
In summary, I believe the company is doing an excellent job, and have been marshalling their resources the most effective way possible. However from an investors stand point they need more visibility. The company did make that commitment to us. While they will not become a PR machine, they said they are now ready to tell their story, and will begin releasing news via PR’s on a more consistent basis. Buckle up folks. This should be a very interesting 2007.
Just my two cents.
Tom
MKRS - Best volume in months and still early trading....vol 150K...40x42
KR
DLSL beware.....
From The Microcap Speculator
http://themicrocapspeculator.blogspot.com/2007/03/taking-profits-on-deli-solar-dlslob.html
Friday, March 16, 2007
Taking profits on Deli Solar (DLSL.OB)
The incredible rise might not be over in Deli Solar (DLSL.OB) (articles), but the risk profile shifted significantly yesterday when the company disclosed in an 8-K filing that three directors quit on March 9, 2007 "to pursue other interests."
That may be accurate, but it certainly sounds suspect. After all, serving as a director for a single microcap company usually only involves a couple board meetings per year -- hardly something that would preclude "other interests."
Given that the stock is up over 150% since the first of the year, and just under 100% since I opened a position exactly one month ago, I'm not going to wait until further information is revealed. I closed my entire position in Deli Solar and will now look to reposition those funds in a stock that did not suddenly lose the majority of its directors to "other interests."
DISCLOSURE: I have no position in DLSL.OB. Not a recommendation to buy or sell any security. For informational and educational purposes only.
My entries:
SWEET 16
FLORIDA
MARYLAND
NOTRE DAME
GEORGIA TECH
KANSAS
SOUTHERN ILLINOIS
PITTSBURGH
UCLA
NORTH CAROLINA
TEXAS
WASHINGTON ST.
GEORGETOWN
OHIO STATE
TENNESSEE
TEXAS A&M
MEMPHIS
ELITE EIGHT
FLORIDA
GEORGIA TECH
KANSAS
UCLA
NORTH CAROLINA
GEORGETOWN
OHIO STATE
MEMPHIS
FINAL FOUR
FLORIDA
KANSAS
NORTH CAROLINA
OHIO STATE
CHAMPIONSHIP GAME
OHIO STATE
KANSAS
WINNER
OHIO STATE 60-50
Website update: http://www.mikros.us/whatsnew.htm
March 13, 2007 - Mikros Engineers Ride USS Kearsarge Amphibious Ship
As part of the radar wireless program funded by the U.S. Navy SPAWAR, Mikros engineers sailed March 13th on USS Kearsarge (LHD-3) amphibious assault ship to conduct tests of the radio frequency environment on the ship and study the propagation and compartment penetration of wireless data networks. This is the 3rd ship Mikros has visited on this contract and is an important program in that, the U.S. navy is aggressively adding wireless equipment to its various ship classes. More information on the results of this ship testing and results from the previous ship visits will be posted on this website in the very near future.
Mike - What's your take on this? The stock isn't acting favorably, but that could be a reaction to the overall market today. I'm considering a re-entry.
Thanks, KR
QMRK.OB...picked up some more today...this is becoming very undervalued.
http://finance.yahoo.com/q?s=QMRK.OB
Industry leader in stress testing systems
Market cap: $12M
O/S: 9M shares (low float)
TTM revs: $16.5M
EPS: $0.11
Notes from recent conf call courtesy of Max Fletcher over on SI:
QMRK Conference Call: I thought their earnings release was somewhat underwhelming, but the conference call and outlook for 2007 very positive. A few notes:
- CEO on 2-week Asian sales tour at the moment
- 17 consecutive profitable quarters
- Q4 sales of $4.3M was a record
- 2006 sales of $16.4M a record
- Earning comparisons '06 vs '05 heavily and negatively impacted by the new requirements for reporting stock options as well as the deferred tax asset adjustment which doesn't necessarily make for a fair comparison
- On an apples to apples basis '06 earnings were 3% over '05 despite significant investments in infrastructure to support anticipated future growth
- Profits should rise exponentially now that the infrastructure is in place to support higher revenues
- Very diverse customer base both by industry and geographically
- CTO spoke of numerous improvements/enhancements that have been made and will be made to the units
- The tech is receiving greater & greater acceptance; for example the laptop battery recall and Toyota recalls have convinced Japanese manufacturers of the benefits of HALT/HASS
- Receiving upgrade orders for older units
- LING electromagentic division has even more potential than HALT/HASS; LING name very respected in the industry and the US military
- Have a $3.8M quote out to a USAF base plus over $1M overseas (China, E Europe)
- The export license finally received in late '06 will be important going forward
- New domestic sales force; large sales meeting in Jan. with reps from all over US and many countries
- Expect significant growth
- Goal to get on AMEX; meet everyting but the share price
- Hired IR firm
- New website coming on board by end of month
- Aware of the need for greater liquidity
- Can't comment on potential acquisitions
- HALT (R&D) converting to HASS (Production) so a customer who had 1 unit will now want a minimum of 4
- Several sales reps came over from a competitor
I plan to hold onto my shares and see if they can get some traction in 2007.
AML Communications Signs Letter of Intent to Acquire Controlling Interest in
Mica-Tech, Inc. ( BusinessWire )
CAMARILLO, Calif., Mar 07, 2007 (BUSINESS WIRE) --
AML Communications, Inc. (OTCBB:AMLJ) announced today that it
entered into a letter of intent to acquire a controlling position in
Mica-Tech, Inc. in a cash-for-stock transaction. Under the terms of
the agreement AML will purchase 51% of Mica-Tech's outstanding stock
for $800,000. The acquisition is subject to negotiation of a
definitive agreement.
Mica-Tech is a privately held corporation that designs,
manufactures, and markets an intelligent satellite communication
system that provides Supervisory Control And Data Acquisition (SCADA)
of the electric power grid. Mica-Tech has successfully deployed its
products with a leading utility company. Penetration into the
country-wide utility companies market is in initial phases. The
company website is located at http://www.mica-tech.com.
AML Communications is a designer, manufacturer and marketer of
amplifiers and integrated assemblies that address the Defense
Microwave markets. The Company's Web site is located at
http://www.amlj.com.
AMLJ.OB: AML Communications Announces $4.3 Million Bookings
Monday March 5, 9:00 am ET
CAMARILLO, Calif.--(BUSINESS WIRE)--AML Communications, Inc. (OTCBB:AMLJ - News) today announced that bookings for the month of February exceeded $4.3 Million, an all time record for a single month. These bookings include orders from: Raytheon, Boeing, General Dynamics, Northrop Grumman, Lockheed Martin, L3 Communications and MiKES Microwave.
In preparation for the increased bookings, AML has invested in infrastructure to address increased capacity. The following are in process of implementation:
1. An automated microelectronic wire bonder utilizing the latest pattern recognition technology. Such equipment is expected to significantly increase thru-put while maintaining high yields.
2. An automated Test System that is expected to reduce test time and increase thru-put.
3. An advanced Bar-Code System to enable accurate product tracking on the production floor.
Management is pleased with the pace of recent orders announced during the month of February and believes the investment in new products during the last three years will continue to reward the Company.
AML Communications is a designer, manufacturer and marketer of amplifiers and integrated assemblies that address the
AML Communications Announces $4.3 Million Bookings
Monday March 5, 9:00 am ET
CAMARILLO, Calif.--(BUSINESS WIRE)--AML Communications, Inc. (OTCBB:AMLJ - News) today announced that bookings for the month of February exceeded $4.3 Million, an all time record for a single month. These bookings include orders from: Raytheon, Boeing, General Dynamics, Northrop Grumman, Lockheed Martin, L3 Communications and MiKES Microwave.
In preparation for the increased bookings, AML has invested in infrastructure to address increased capacity. The following are in process of implementation:
1. An automated microelectronic wire bonder utilizing the latest pattern recognition technology. Such equipment is expected to significantly increase thru-put while maintaining high yields.
2. An automated Test System that is expected to reduce test time and increase thru-put.
3. An advanced Bar-Code System to enable accurate product tracking on the production floor.
Management is pleased with the pace of recent orders announced during the month of February and believes the investment in new products during the last three years will continue to reward the Company.
AML Communications is a designer, manufacturer and marketer of amplifiers and integrated assemblies that address the Defense Microwave markets. The Company's Web site is located at http://www.amlj.com.
oasdihf - How did you learn about BioPhage? I learned about them from SI board and did my DD before jumping on board. Do you have any further insight into the company?
Thanks, KR
Do we have an earnings date yet?
I'm out (as disclosed in earlier post), but am still interested in their upcoming earnings report. As I mentioned, I may be a buyer again below a buck.
KR
La Nina's brewing, forecasters warn
By SETH BORENSTEIN, AP Science Writer
Tue Feb 27, 8:57 PM ET
WASHINGTON - Forecasters warned Tuesday that a La Nina weather pattern — the nasty flip side of El Nino — is brewing, bringing with it the threat of more hurricanes for the Atlantic.
Officials at the National Oceanic and Atmospheric Administration announced the official end of a brief and mild El Nino that started last year. That El Nino was credited with partially shutting down last summer's Atlantic hurricane activity in the midst of what was supposed to be a busy season.
"We're seeing a shift to the La Nina, it's clearly in the data," NOAA Administrator Conrad Lautenbacher said. La Nina, a cooling of the mid-Pacific equatorial region, has not officially begun because it's a process with several months with specific temperature thresholds, but the trend is obvious based on satellite and ocean measurement data, he said.
"It certainly won't be welcome news for those living off the coast right now," Lautenbacher said. But he said that doesn't mean Atlantic seaboard residents should sell their homes.
Forecasters don't know how strong this La Nina will be. However, it typically means more hurricanes in the Atlantic, fewer in the Pacific, less rain and more heat for the already drought-stricken South, and a milder spring and summer in the north, Lautenbacher said. The central plains of the United States tend be drier in the fall during La Ninas, while the Pacific Northwest tends to be wetter in the late fall and early winter.
Of special concern is west Texas which is already in a long-term drought, which during a La Nina will likely get worse, Lautenbacher said.
Historically, El Ninos and La Ninas are difficult to forecast, said National Center for Atmospheric Research senior scientist Michael Glantz, who studies how they effect humans.
"I don't see it as a useful forecast," Glantz said. "Every event since they've been looking at El Nino ... surprised scientists."
La Ninas tend to develop from March to June and reach peak intensity at the end of the year and into the next February, according to Vernon Kousky, NOAA's top El Nino/La Nina expert. La Nina winters tend to be warmer than normal in the Southeast and colder than normal in the Northwest.
Andrew Weaver, a meteorology professor at the University of Victoria in Canada, said NOAA's forecast looks good because the signs of a brewing La Nina are apparent just below the ocean's surface.
"La Nina is the evil twin sister of El Nino, so it's good or bad depending on where you live," Weaver said. However, in general La Ninas do not have as costly effects on humans as El Ninos do, he said.
The last lengthy La Nina, from 1998 to 2001, helped cause a serious drought in much of the West, according to NOAA drought specialist Douglas Lecomte.
"There are winners and losers, people tend to concentrate on the losers," Lautenbacher said.
QMRK:Qualmark Corporation Reports Fourth Quarter and Fiscal Year 2006 Financial Results
Wednesday February 28, 7:50 am ET
DENVER--(BUSINESS WIRE)--Qualmark Corporation (OTCBB: QMRK - News) a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing), HASS (Highly Accelerated Stress Screening) and electrodynamic systems, today reported operating results for the fourth quarter and year ended December 31, 2006.
ADVERTISEMENT
For the year (twelve months ended December 31, 2006):
Revenue-
The Company reported total revenue for the year of $16,427,000 versus total revenue of $14,845,000 from 2005. Charles Johnston, Qualmark's President & CEO, stated, "Qualmark achieved record revenue in 2006 that was well balanced across our geographies, product services, customer and new business segments. Our Electrodynamic business unit (Ling Electronics) experienced 37% revenue growth for the year. The consolidated results illustrate the value of our products and the leverage in our business model. The strength of our products was demonstrated as we expanded our business in several markets, including: the international automotive markets (specifically the key Japanese and European auto makers), consumer electronics, power supplies, aerospace, communications, wireless and flat panel displays. We continue to gain market share with new customers, especially in the consumer product manufacturing and government sectors and we expanded into 35 countries."
Income-
The Company reported net income of $1,151,000, which included an additional $114,000 expense related to the fair value of stock options and a deferred tax benefit of $135,000, versus net income of $2,088,000, which included a deferred tax benefit of $780,000, for 2005. Throughout 2006, the Company recorded non-cash expenses related to the fair value of stock options for the first time. These changes from 2005 reflect the Company's adoption of SFAS 123R in 2006. "Through the focused expansion in our sales, marketing and customer support infrastructure, we continue to ensure that our customers meet the critical and growing challenges they face. We believe our worldwide investments in the Electrodynamic business unit (Ling Electronics,) which experienced a 37% growth rate, will provide long term shareholder value," concluded Mr. Johnston.
Earnings per share-
The Company reported diluted income per share for the year of $0.11, which included an additional $114,000 expense related to the fair value of stock options and a deferred tax benefit of $135,000, as compared to diluted income per share of $0.25, which included a deferred tax benefit of $780,000, for 2005. The Company does not anticipate any additional dilution at this time. However, the Company may enter into financial transactions to assist with financing additional acquisitions or provide capital for future growth, which may further impact dilution.
Balance sheet-
During 2006, the Company executed initiatives to continue to strengthen its balance sheet.
Throughout 2006, the Company has increased its cash position through close management of its working capital.
During the third quarter of 2006, the primary holder of the Company's preferred stock elected to convert all of the outstanding preferred shares into common shares. This conversion resulted in a more transparent equity structure and eliminated the continuous preferred stock dilution, dividend cost and debt overhang. This also elevates the Company's stockholders' equity to a level that meets the listing requirements of a major stock exchange.
On February 20, 2007, the Company entered into a three-year; interest only, convertible subordinated debt agreement totaling $500,000. The subordinated debt agreement was used to pay down a portion of the outstanding commercial bank debt, which will allow the Company to refinance its commercial bank debt and significantly lower its monthly cash payments and increase revolving line of credit flexibility.
For the quarter (three months ended December 31, 2006):
Revenue-
The Company reported total revenue for the three months ended December 31, 2006 of $4,302,000 versus total revenue of $3,909,000 from the comparable period in 2005.
Income-
For the three months ended December 31, 2006, the Company reported net income of $451,000, which included a deferred tax benefit of $113,000, versus net income of $1,104,000, which included a deferred tax benefit of $780,000, for the comparable period in 2005.
Earnings per share-
For the three months ended December 31, 2006, the Company reported diluted income per share of $0.05, as compared to diluted income per share of $0.12 for the three months ended 2005.
A Conference call to further discuss 2006 results will be held today, February 28 at 11:00 a.m. Eastern Time. To participate via conference call dial 888-318-6430 no later than 10:50 a.m. EST. The security code to access this earnings call is QUALMARK.
Quarter Ended Year Ended
December 31 December 31
2006 2005 2006 2005
-----------------------------------------------------
HALT/HASS
segment revenue $3,481,000 $3,354,000 $13,366,000 $12,613,000
Electro-dynamic
segment revenue 821,000 555,000 3,061,000 2,232,000
-----------------------------------------------------
Total revenue 4,302,000 3,909,000 16,427,000 14,845,000
-----------------------------------------------------
Gross profit 1,862,000 1,819,000 6,958,000 6,701,000
Gross profit
margin 43.3% 46.5% 42.4% 45.1%
-----------------------------------------------------
Income from
operations 393,000 366,000 1,379,000 1,477,000
Pretax income 308,000 327,000 1,060,000 1,337,000
=====================================================
Net income (1)429,000 (2)1,104,000 (1)1,151,000 (2)2,088,000
=====================================================
(1) Includes $135,000 for a deferred tax benefit
(2) Includes $780,000 for a deferred tax benefit
Earnings Per
Share:
Basic:
Net income 429,000 1,104,000 1,151,000 2,088,000
Preferred stock
dividends -- (59,000) (156,000) (230,000)
Accretion of
redeemable
preferred stock -- (37,000) (183,000) (264,000)
-----------------------------------------------------
Net income
available to
common
shareholders 429,000 1,008,000 812,000 1,594,000
=====================================================
Basic earnings
per share $0.05 $0.23 $0.14 $0.37
=====================================================
Basic weighted
average shares
outstanding 8,776,000 4,417,000 5,981,000 4,266,000
=====================================================
Diluted:
Net income 429,000 1,104,000 1,151,000 2,088,000
Interest expense
from
convertible
debt 14,000 20,000 75,000 80,000
-----------------------------------------------------
Net income
available to
common
shareholders -
Diluted 443,000 1,124,000 1,226,000 2,168,000
=====================================================
Diluted earnings
per share $0.05 $0.12 $0.11 $0.25
=====================================================
Diluted weighted
average shares
outstanding 9,427,000 9,178,000 10,758,000 8,851,000
=====================================================
Qualmark Corporation, headquartered in Denver, Colorado, is the leader in designing, marketing, and manufacturing accelerated life-testing systems (HALT and HASS) providing the world's largest corporations with solutions that improve product reliability and allow them to get to market faster. The Company has installed more than 600 of its proprietary testing systems in 35 countries. The Company operates and partners with ten testing facilities worldwide.
The Company also offers electrodynamic vibration solutions through its subsidiary, Ling Electronics.
Ling Electronics, headquartered in West Haven, Connecticut, is the leader in supplying electrodynamic systems, components, and service to the worldwide vibration test equipment market.
Qualmark Corporation Reports Fourth Quarter and Fiscal Year 2006 Financial Results
Wednesday February 28, 7:50 am ET
DENVER--(BUSINESS WIRE)--Qualmark Corporation (OTCBB: QMRK - News) a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing), HASS (Highly Accelerated Stress Screening) and electrodynamic systems, today reported operating results for the fourth quarter and year ended December 31, 2006.
ADVERTISEMENT
For the year (twelve months ended December 31, 2006):
Revenue-
The Company reported total revenue for the year of $16,427,000 versus total revenue of $14,845,000 from 2005. Charles Johnston, Qualmark's President & CEO, stated, "Qualmark achieved record revenue in 2006 that was well balanced across our geographies, product services, customer and new business segments. Our Electrodynamic business unit (Ling Electronics) experienced 37% revenue growth for the year. The consolidated results illustrate the value of our products and the leverage in our business model. The strength of our products was demonstrated as we expanded our business in several markets, including: the international automotive markets (specifically the key Japanese and European auto makers), consumer electronics, power supplies, aerospace, communications, wireless and flat panel displays. We continue to gain market share with new customers, especially in the consumer product manufacturing and government sectors and we expanded into 35 countries."
Income-
The Company reported net income of $1,151,000, which included an additional $114,000 expense related to the fair value of stock options and a deferred tax benefit of $135,000, versus net income of $2,088,000, which included a deferred tax benefit of $780,000, for 2005. Throughout 2006, the Company recorded non-cash expenses related to the fair value of stock options for the first time. These changes from 2005 reflect the Company's adoption of SFAS 123R in 2006. "Through the focused expansion in our sales, marketing and customer support infrastructure, we continue to ensure that our customers meet the critical and growing challenges they face. We believe our worldwide investments in the Electrodynamic business unit (Ling Electronics,) which experienced a 37% growth rate, will provide long term shareholder value," concluded Mr. Johnston.
Earnings per share-
The Company reported diluted income per share for the year of $0.11, which included an additional $114,000 expense related to the fair value of stock options and a deferred tax benefit of $135,000, as compared to diluted income per share of $0.25, which included a deferred tax benefit of $780,000, for 2005. The Company does not anticipate any additional dilution at this time. However, the Company may enter into financial transactions to assist with financing additional acquisitions or provide capital for future growth, which may further impact dilution.
Balance sheet-
During 2006, the Company executed initiatives to continue to strengthen its balance sheet.
Throughout 2006, the Company has increased its cash position through close management of its working capital.
During the third quarter of 2006, the primary holder of the Company's preferred stock elected to convert all of the outstanding preferred shares into common shares. This conversion resulted in a more transparent equity structure and eliminated the continuous preferred stock dilution, dividend cost and debt overhang. This also elevates the Company's stockholders' equity to a level that meets the listing requirements of a major stock exchange.
On February 20, 2007, the Company entered into a three-year; interest only, convertible subordinated debt agreement totaling $500,000. The subordinated debt agreement was used to pay down a portion of the outstanding commercial bank debt, which will allow the Company to refinance its commercial bank debt and significantly lower its monthly cash payments and increase revolving line of credit flexibility.
For the quarter (three months ended December 31, 2006):
Revenue-
The Company reported total revenue for the three months ended December 31, 2006 of $4,302,000 versus total revenue of $3,909,000 from the comparable period in 2005.
Income-
For the three months ended December 31, 2006, the Company reported net income of $451,000, which included a deferred tax benefit of $113,000, versus net income of $1,104,000, which included a deferred tax benefit of $780,000, for the comparable period in 2005.
Earnings per share-
For the three months ended December 31, 2006, the Company reported diluted income per share of $0.05, as compared to diluted income per share of $0.12 for the three months ended 2005.
A Conference call to further discuss 2006 results will be held today, February 28 at 11:00 a.m. Eastern Time. To participate via conference call dial 888-318-6430 no later than 10:50 a.m. EST. The security code to access this earnings call is QUALMARK.
Quarter Ended Year Ended
December 31 December 31
2006 2005 2006 2005
-----------------------------------------------------
HALT/HASS
segment revenue $3,481,000 $3,354,000 $13,366,000 $12,613,000
Electro-dynamic
segment revenue 821,000 555,000 3,061,000 2,232,000
-----------------------------------------------------
Total revenue 4,302,000 3,909,000 16,427,000 14,845,000
-----------------------------------------------------
Gross profit 1,862,000 1,819,000 6,958,000 6,701,000
Gross profit
margin 43.3% 46.5% 42.4% 45.1%
-----------------------------------------------------
Income from
operations 393,000 366,000 1,379,000 1,477,000
Pretax income 308,000 327,000 1,060,000 1,337,000
=====================================================
Net income (1)429,000 (2)1,104,000 (1)1,151,000 (2)2,088,000
=====================================================
(1) Includes $135,000 for a deferred tax benefit
(2) Includes $780,000 for a deferred tax benefit
Earnings Per
Share:
Basic:
Net income 429,000 1,104,000 1,151,000 2,088,000
Preferred stock
dividends -- (59,000) (156,000) (230,000)
Accretion of
redeemable
preferred stock -- (37,000) (183,000) (264,000)
-----------------------------------------------------
Net income
available to
common
shareholders 429,000 1,008,000 812,000 1,594,000
=====================================================
Basic earnings
per share $0.05 $0.23 $0.14 $0.37
=====================================================
Basic weighted
average shares
outstanding 8,776,000 4,417,000 5,981,000 4,266,000
=====================================================
Diluted:
Net income 429,000 1,104,000 1,151,000 2,088,000
Interest expense
from
convertible
debt 14,000 20,000 75,000 80,000
-----------------------------------------------------
Net income
available to
common
shareholders -
Diluted 443,000 1,124,000 1,226,000 2,168,000
=====================================================
Diluted earnings
per share $0.05 $0.12 $0.11 $0.25
=====================================================
Diluted weighted
average shares
outstanding 9,427,000 9,178,000 10,758,000 8,851,000
=====================================================
Qualmark Corporation, headquartered in Denver, Colorado, is the leader in designing, marketing, and manufacturing accelerated life-testing systems (HALT and HASS) providing the world's largest corporations with solutions that improve product reliability and allow them to get to market faster. The Company has installed more than 600 of its proprietary testing systems in 35 countries. The Company operates and partners with ten testing facilities worldwide.
The Company also offers electrodynamic vibration solutions through its subsidiary, Ling Electronics.
Ling Electronics, headquartered in West Haven, Connecticut, is the leader in supplying electrodynamic systems, components, and service to the worldwide vibration test equipment market.
Len: spot on....I tip my hat
Daily Performance
Value Microcap Index: -4.99%
Value Microcap Index Rebalanced: -4.49%
True. Interesting to note, however, how well the BBs held up relative to the larger cap stocks.
AMLJ.OB another $1.5M order...that makes $4.9M new orders announced in past 2 months....next earnings could be very interesting.
AML Communications Receives $1.5 Million Export Order
Monday February 26, 9:00 am ET
CAMARILLO, Calif.--(BUSINESS WIRE)--AML Communications, Inc. (OTCBB:AMLJ - News) today announced it has received a $1.5 Million order from the MiKES Microwave Electronic Systems of Turkey for amplifiers and integrated assemblies designed for the SPEWS II program.
ADVERTISEMENT
The SPEWS II Program is an updated Electronic Warfare suite for the SPEWS I system installed on the F-16 fighter.
As reiterated in recent releases, the Company has invested significant resources during the last three years to diversify the composition of orders by developing products that target long term, high value added contracts. These investments and associated strategy have, in management's opinion, reached maturity. The Company stands to benefit from the investments made as the programs enter their production phases.
AML Communications is a designer, manufacturer and marketer of amplifiers and integrated assemblies that address the Defense Microwave markets. The Company's Web site is located at http://www.amlj.com.
Out of XPO
Just got back from vacation. In the interest of full disclosure to this board, my XPO stop limit order triggered while away on the disappointing earnings guidance...got lucky with an exit at $1.46. SKILLZ would have advised me not to hold into earnings....perhaps I'll heed that next time, especially considering the significant rise into earnings.
XPO chart is not so pretty any more.
KR
AMLJ.OB another $1.5M order
AML Communications Receives $1.5 Million Export Order
Monday February 26, 9:00 am ET
CAMARILLO, Calif.--(BUSINESS WIRE)--AML Communications, Inc. (OTCBB:AMLJ - News) today announced it has received a $1.5 Million order from the MiKES Microwave Electronic Systems of Turkey for amplifiers and integrated assemblies designed for the SPEWS II program.
ADVERTISEMENT
The SPEWS II Program is an updated Electronic Warfare suite for the SPEWS I system installed on the F-16 fighter.
As reiterated in recent releases, the Company has invested significant resources during the last three years to diversify the composition of orders by developing products that target long term, high value added contracts. These investments and associated strategy have, in management's opinion, reached maturity. The Company stands to benefit from the investments made as the programs enter their production phases.
AML Communications is a designer, manufacturer and marketer of amplifiers and integrated assemblies that address the Defense Microwave markets. The Company's Web site is located at http://www.amlj.com.
Anyone here follow DLSL.OB?
Recent writeup from Microcap Speculator....
Posted: 16 Feb 2007 02:09 PM CST
Chinese solar companies are hot. It seems that every week a new solar equipment IPO raises several hundred million dollars or more, largely spurred by government incentives in the PRC and some European countries. There are a number of microcaps in this industry. After initial review, I bought shares in one of them yesterday, Deli Solar (DLSL.OB).
Look past the funny name. Deli Solar makes solar-powered water heaters and a range of coal and alternative-energy fired boilers, not pastrami on rye. Deli Solar primarily sells into rural Chinese markets, where basic electrical and gas utilities are often unreliable if available at all. It sells through a network of 585 distributors and 2000 retailers in 27 Chinese provinces. The Company says that new laws encourage sales and give it tax incentives:
The National People's Congress, the equivalent of the parliament of the PRC, passed the China Renewable Energy Act, effective January 1, 2006. This law creates new opportunities for the growth of the solar power industry in that it promotes the installation of both solar hot water and space heating systems, the integration of these systems into new construction, the application of solar energy in rural China and affords certain financial incentives to these projects. The National Development and Reform Commission will develop a data base of renewable resources energy projects that are supported by the government. If a company's project is on this list, it can apply for preferential treatment including loan and tax incentives. The Chinese Government hopes that this law will boost the renewable energy sector's share from negligible to about 10 % of total energy supplied. Deli Solar, which focuses on the development and commercialization of renewable energy resources, will be important to China's future economic growth.
Deli is profitable. Last quarter it earned $.07 per share (fully diluted) on $6.56M in revenues. Annualized, that would be $.28 on approximately $26M in revenues, giving the company a P/E ratio on the run rate of under 5, and a P/S of under 0.5.
The numbers get even more amazing when you consider the cash on the balance sheet. At the end of last quarter, Deli had almost $4.6M in cash and no debt, or almost $.60 per fully-diluted share.
approximately 6.2 million common shares and 1.8 million warrants outstanding.
There are a few caveats. The company's tax rate will increase in the coming year as a 100% exemption is scaled back to 50%. The exemption will remain at 50% through 2010, when it expires. The company is also growing rapidly (including building two major production lines). A failure to execute could be costly. Also, Deli Solar has entered into Memoranda of Understanding to purchase two other Chinese companies. These acquisitions, if completed, would utilize much of the company's cash hoard. I don't know whether the targets are currently profitable, or whether the proposed acquisitions would be accretive or dilutive to Deli Solar shareholders. More information is available in the latest 10-QSB.
Biophage Pharma increases private placement
02-12-2007
Montreal, February 12, 2007 - (TSX.V: BUG). Biophage Pharma Inc. ("Biophage") is pleased to announce that it has increased to $600,000 the maximum amount of its $500,000 private placement of units announced on December 22, 2006 (the "Private Placement"). Biophage also extends to February 28, 2007 the $0.13 per unit price protection period. Each unit is composed of one common share of the share capital of Biophage and one non‑transferable warrant. Each such warrant entitles the holder thereof to purchase one common share of the capital of Biophage for a price of $0.17, at any time for a period of two years after the date of its grant. The common shares to be issued at a price of $0.13 per share and the common shares underlying the warrants have a four-month resale restriction.
Dr Rosemonde Mandeville, President and CEO of Biophage commented: "We believe that the road shows we are presently doing and the good news that we have announced have increased demands for this private placement. The attendance in Quebec City and in Montreal was impressive and interest high. In addition to the revenues generated by our service division ImmunoTox Labs, we started the sales of Listex to cheese producers and our biosensor is in the last stages of its development, which lead to the fact that our three divisions should be generating income in 2007 and attract more and more attention. We are very proud to continue these developments and increase the value of our company for our shareholders."
The private placement is subject to the necessary approvals of the TSX Venture Exchange and the securities authorities.
EGLE: Eagle Bulk Shipping, Inc. Declares Dividend
Thursday February 15, 9:13 am ET
NEW YORK, Feb. 15, 2007 (PRIME NEWSWIRE) -- Eagle Bulk Shipping Inc. (NasdaqGS:EGLE - News) today announced that its Board of Directors has declared a cash dividend on its common stock for the fourth quarter of 2006 of $0.51 per share payable on or about March 2, 2007, to all shareholders of record as of February 28, 2007.
The Company's expected dividend calendar is April, July and October 2007, and February 2008.
XPO closed at new 52wk high today of $1.51. Prettiest chart around.
KR
AMLJ - I took a starter position on this announcement. While earnings announcement last week was timid, this Raytheon deal validates the CEO's message:
...the Company has invested significant resources during the last three years to diversify the composition of orders by developing products that target long term, large contracts. These investments and associated strategy have, in management's opinion, reached maturity. The Company stands to benefit from the investments made as the programs enter their production phases.
swan/MKRS - Yes, even though we won't get to see this document, it looks like good things are happening behind the scenes here....posted today from credible poster on RB:
In-progress review" is correct. Just received an Email response from Holly at MKRS. The pass-worded message was for subcontractors who were unable to attend a meeting. It enabled them to get the info that was being presented. Content and location not disclosed. They have removed it from the site and apologized if it caused any confusion. I guess things are happening
I took a starter position with this latest PR....things are heating up.
Decided to bail on GACF. Earnings may be good, but I'm concerned about visibility going forward. It has been too quiet and it doesn't look like they'll get much from Delta. Might re-enter if it drops below $1.
KR
Decided to bail. Earnings may be good, but I'm concerned about visibility going forward. It has been too quiet and it doesn't look like they'll get much from Delta. Might re-enter if it drops below $1.
KR
Looks like CRT Capital reduced their holdings. Previously they held 2.5M shares (9.56% of outstanding)....now only 780,000 shares (2% of outstanding)