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lentinman-Thanks for the chart.
ZNCM-I don't own, but given all the discussion I decided to check this out. This is what I've found.
Based on the UPG prospectus. The first six months of 2006 generated 44,245k in sales with a reported operating profit of 1,633k.
ZNCM for the first 6 months of 2006 reported sales of 45,153k and an operating profit of 1,489k.
Thus, the business retained by ZNCM therefore generated revenues of 907k and an operating profit of (144)k.
Per the prospectus UPG had a proforma net income of 780k for the first six months of 2006. If you divide those earnings by 5M shares after the offering you have earnings per share of .156 for the first six months of 2006. The stock is trading at 7.25 which is a lofty valuation given the first six months earnings.
A balance sheet play could be argued based on the value of the stock retained by zncm as well as the cash, but you also have the negative impact of the operating losses of the subisidiary that was retained.
OT-Several months ago someone posted a chart that was a 12 month lag in the stock market versus the housing market. I remember the two charts were highly correlated.
I would like to see if that correlation has continued, but I'm not a member so I can't do a search. If someone could point me to that post it would be greatly appreciated.
abh3vt re:csstf-I'm long this one as well. You never know with these China stocks, but this one passes the test for me as well. I do pay close attention to the cash flows and DSO with these stocks. So far this one remains a viable investment.
Inventory growth is the most problematic issue for me, although as you point out, the inventory turn hasn't gotten out of hand. They have a nice cash balance. To characterize this stock as hemorrhaging cash is an overstatement, and leads one to question the credibility of the opinion.
WWMU.OB. 2m shares outstanding. Posted .22 eps in the most recent quarter. Uses factories in china to manufacture die castings, electronic components and air conditioning units for autos.
Has anyone looked into this stock?
stock_peeker-that makes sense.
stock_peeker-He must not be working with a very big portfolio if he can dump everything at the open.
crws.ob CC notes-
The Baby Mink line should be introduced in first part of 2007 and should have a bigger impact on the second half. I definitely got the impression that they are going to discontinue one of their unprofitable subs (Chruchill if I'm not mistaken). Future earnings could get a boost from divestiture and possible new channels with Baby Mink.
crws.ob I'm surprised by the response to earnings. I was satisfied with the quarter. I believe they will earn in excess of .52 fully taxed eps for the current fiscal year. Cash flow from operations is strong, and I believe at the current price this stock still has value.
nelson re:crws-not quite that good eps. of .16 net of gain.
obci sskillz1- I didn't bother to calculate because I decided not to buy based on the seasonality and industry. I just wanted to point it out.
OBCI There does appear to be an error in the quarterly report. They show income of 670k before foreign currency translation adjustment, and they have 1k of foreign currency adjustment. The total is 771k. It looks like earnings may be overstated by 100k.
msgi re:smtx
If you eliminate the restructuring recovery, gain on sale of assets and tax benefit, it isn't a very impressive earnings report.
QD-you all need to be careful about how they changed the calculation of eps. They decided to exclude preferred stock accreation from the calculation. The press release was very misleading in this regard. They actually earned .06 untaxed. The balance sheet is ok, but the eps numbers were very misleading.
bobwins re: cpne- I didn't take a position.
First, I'm always suspicious of Company's that only report basic eps in their press releases.
Second, they compared unconsolidated revenues in the first quarter to consolidated revenues from the prior year. The 9.7 million of revenues contained a significant portion of intercompany sales which are eliminated in the consolidated financials. That's very unprofessional, and I can't figure out why they would do that other than to promote a fictious growth rate.
The whole tone of this press release seemed like a pump and dump in my opinion. With that said, it may still turn out to be a good investment.
jaybird I just pulled it from the 20f that you linked. If they issued less than proposed, then it could be better than it appears.
EFUT 2005 earnings were $677,834 divided by the total shares after offering of 6,613,756 equals $.10 in eps for 2005. The stock is trading at $11+. I don't see anything to get excited about.
SILC came in with a record quarter. Could be a low float runner today.
OT - I love firefox. It has the added security advantage of fewer spyware attacks.
researcher59 don't let anyone tell you that you don't know JAKK. I hesitated on this one due to the sector, and I'm now regretting it.
ypnt-my guess is that they will amortize the cost of these options over the three year vesting period.
I failed to get my picks in due to too many distractions last week. I would have liked to help lower the curve again. There's always next time.
aagh-there are some issues with the financials of this stock. My gut tells me to stay away from this one, but that doesn't mean it's not a good investment. Anyone that bought in the teens is obviously pretty happy. Good luck to all the longs, and don't be surprised to see a dilutive financing around the corner. They need to come up with the final payment for the acquisition at the end of September.
If they start collecting their receivables, I might be willing to consider this one.
beigledog-How about Infinium receiving exclusive FDA notice that the rules for a generic Vancocin were changed.
Wade I was just giving you a hard time. Lately, it's been far easier to make the wrong call.
Wade-You said researcher was the only one to see past the manipulation on VPHM.
Wade-You mean this didn't qualify?
http://investorshub.com/boards/read_msg.asp?message_id=12088141
IGII.OB - I contacted investor relations about the error in the press release regarding eps. I will be curious to see if the company issues a correction, and if they do how the stock will react.
IGII.ob - They posted a pretty strong quarter. They had .014 fully taxed eps. Revenues were up 117% year over year. Stock is currently trading at .2.
They definitely need help in writing a PR. They incorrectly reported that they had 0.00 in eps for the quarter as opposed to the .014 that they actually reported in their 10q.
cleverrox re: AAGH-They don't have cash. The majortiy of their sales for the quarter are in Accounts Receivable and as a result they have a negative cash flow from operations of (570k).
The stock has been trading big volume over the last three trading days. Based on the share count and the volume, it is surprising the stock price has moved higher.
HRBN's 1st quater included some one time items. If you exclude those items, the first quarter eps were .19. .21 in the current quarter represents a 10% seqential gain from the first quarter.
researcher59-it would only be speculation on my part as to why the stock price is in decline. Based on last years 10k the Company's oil reserves declined by 10% from 559k to 504k whereas gas increased from 842k to 1,345k. Based on current prices oil is their most valuable asset and it is in decline.
Absent a sustained increase in oil prices or a future discovery, I not sure that a premium to it's reserves makes sense. From my perspective, I not sure either of those is a high probability.
Wade-I can't speak for most companies, but TVOC sells at a discount to it's reserves. I have no interest in owning any oil company that trades at a premium to its reserves unless they have a promising portfolio of undeveloped property and a history of new discoveries.
PYR-Absent new discoveries, I'm not sure it is that surprising the stock is falling. At 12/31/05 the discounted value of their reserves was $28.8M using an oil price of 66.95 and a gas price of 11.74.
The current market capitalization of the company is $38.75M. Absent new discoveries or higher future prices of oil/nat. gas this stock is trading at a premium to it's reserves
Footwedge-That's excellent news. Do you have any more details?
berliet-I may be wrong, but after looking at the 10k it still appears the Company is using the same misleading advertising technique that placed them at odds with several state attorney generals.
If I'm not mistaken they send out a check to the prospective business, and if the business cashes the check that is confirmation that they agreed to an account. It appears they are still facing complaints of misleading advertising. If this isn't the case let me know.
berliet-I assume your numbers are correct. I was looking at the year to date comparisons for the first nine months of the curent fiscal year compared to the first nine months of the prior fiscal year. I wouldn't be too alarmed yet, but with this Company's past it is something I would keep a close eye on.
hiho-added some shares. With .09 of operating eps in the last quarter and 2.21 per share in cash, cash equivalents and short term investments, this one looks like a good value.
berliet-That can be construed as a negative if the receivable balance is growing too rapidly. It may be an indication that the Company is under reserving the allowance.
Receivables have grown 54% whereas sales have increased by 39%. This is causing cash flows from operations to lag considerably relative to operating profits. This may resovle itself over time, but it is something to watch.
hweb re: tssw - I agree. There is a lot to like about this Company. 100% growth rate, high margins, low share count and an upgrade cycle in PC's on the horizon can make for an explosive situation for this Company.